A rare 2p coin bearing the words 'NEW PENCE' on its reverse can be worth around £1,000 and is rising in value, according to a coin collector. The coin, struck in 1983, features an outdated inscription that was mistakenly used during production.
The 1983 New Pence error
The @CoinCollectingWizard, who has 272,000 followers on TikTok, explained that all 2p coins struck between 1971 and 1981 carried the words 'NEW PENCE' on their reverse. In 1982, the wording was replaced with 'TWO PENCE'. However, in 1983, a small number of 2p coins were mistakenly struck with the old 'NEW PENCE' inscription.
These error coins were produced in brilliant uncirculated quality, meaning their standard is higher than ordinary circulating coins, and they were included in special sets for collectors.
How to spot the valuable coin
The collector said: "If it says New Pence on the reverse instead of the words Two Pence then you have found it." He added: "If you are lucking enough to find a 1983 New Pence 2p in your change, then it is worth around £1,000. You are more likely to find the coin in the 1983 Royal Mint set though as this is where the mistake happened."
Because fewer coins with the 1983 date feature 'NEW PENCE', the value is much higher to collectors. According to the Royal Mint, it is best to consult a coin dealer, as they cannot value an individual coin.
Collectors warn against cleaning coins
The expert also issued a warning to households who find a rare coin and instantly clean it. In the comments section of the TikTok video, one person said: "Never clean coins," while another agreed: "Worst thing to do on a coin."
