IF you have this rare 2p coin lying around then you may have more than just pesky copper cash in your wallet.
TikToker @CoinCollectingWizard claims some people have a 2p coin that could unwittingly lead to a small fortune.
In a recent clip, he said: “£1,000 if your 2p says New Pence. 1983 only – not 1971.
“The 1983 New Pence coin was a mistake in Royal Mint coin packs when they changed the wording from New Pence to Two Pence.
“If you find a 2p coin, then check it first of all for the words New Pence.
“If it says New Pence, then check it for the date of 1983.”
The TikTok clip has racked up over 4,300 likes and over 300 have commented, grateful the coin expert shared the handy advice.
The Royal Mint says: “All 2p coins struck between 1971 and 1981 included the words ‘NEW PENCE’ as part of their reverse.
“In 1982 and in subsequent years the words ‘NEW PENCE’ were replaced with the word ‘TWO PENCE’.
“However, in 1983 a small number of 2p coins were mistakenly struck with the wording ‘NEW PENCE’ on the reverse.
“These coins were produced to brilliant uncirculated quality – a standard higher than ordinary circulating coins – and were included in special sets intended for collectors.
“Since there are relatively few coins with the date 1983 and the inscription ‘NEW PENCE’ in circulation, they may well have a value higher than face value to a collector.
“The Royal Mint is, however, unable to comment on the value of any individual coin and we would recommend that you should consult a coin dealer.”
They recommended you head to the British Numismatic Trade Association’s website to locate a trusty coin dealer.
This comes after we revealed that a rare Royal Mint 20p coin fetched more than £60 at auction.
This is because an error on your 20p coin means that it could sell for more than 300 times its worth.
The lucrative 20p piece is known as a “mule” coin, released into circulation in 2008 after a manufacturing error.
Traditionally, coins would be dated on the “tails” side. But in 2008, the Royal Mint decided to move the date to the “heads” side.
However, a minting error caused a small number of 20p coins to be released without any date on at all.
This was the first time in 300 years that British coins were released into circulation with no date on them.
How to check if a coin is rare
IT's time to check the loose change in your wallet and your pockets for rare coins.
But how exactly do you spot one? The Sun’s senior consumer reporter Olivia Marshall explains.
In most cases, a coin is rare if it has a low mintage figure – which is set by The Royal Mint.
The mintage figure relates to how many of the coins were made, so the fewer there are of them, the rarer they are.
You can find out what coins are rare and how they look on The Royal Mint’s website.
Your next step after this is seeing if the same coin is still available to buy in superior Brilliant Uncirculated quality from an official Royal Mint distributor, according to Change Checker.
These coins have been specially made to a superior quality which differentiates them from other coins you might find in your pocket.
How to sell a rare coin
If, after checking, you realise you’ve come across a rare coin, there’s a number of ways you can sell it.
You can sell it on eBay, through Facebook, or in an auction.
But be wary of the risks.
For example, there are a number of scams targeting sellers on Facebook.
Crooks will say they’re planning to buy the item and ask for money upfront for a courier they’ll be sending around.
But it’s all a ruse to get you to send free cash to them – and they never have any intention of picking your item up.
It’s always best to meet in person when buying or selling on Facebook Marketplace.
Ensure it’s a public meeting spot that’s in a well-lit area.
Avoid payment links and log in directly through the payment method’s website.
Most sellers prefer to deal with cash directly when meeting to ensure it’s legitimate.
The safest way to sell a rare coin is more than likely at auction.
You can organise this with The Royal Mint’s Collectors Service. It has a team of experts who can help you authenticate and value your coin.
You can get in touch via email and a member of the valuation team will get back to you.
You will be charged for the service, though – the cost varies depending on the size of your collection.
Meanwhile, you can sell rare coins on eBay.
But take into account that if you manage to sell your item then eBay will charge you 10% of the money you made – this includes postage and packaging.
Always keep proof of postage to protect yourself from dodgy buyers who may claim they never received the item.
Send the parcel by tracked delivery if you can as this way they can’t claim it never arrived.
Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.
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