A rare 2p coin minted in 1983, featuring a unique error, could be worth up to £1,000 to collectors. Despite being legal tender, the value of this specific coin lies in its misprint, a detail that has caught the attention of numismatists and collectors alike. The coin in question was mistakenly struck with the inscription “new pence,” a feature that was meant to be updated in 1982.
The Mirror reported on the rarity and potential worth of these coins, highlighting how their unusual nature makes them an intriguing find for those interested in numismatics. Though still in circulation, the value of these coins is far beyond their face value.
The Minting Error That Makes It Valuable
The 1983 two pence coin, although still in circulation, features an error on the reverse side that could drastically increase its value. It mistakenly carries the inscription “new pence” rather than the standard “two pence.” This phrase was used before the decimalisation in 1971 but should have been updated in 1982.
However, only a small number of these incorrectly stamped coins were produced in 1983, and they were not part of regular circulation.
Santander might not be the first place you’d look for rare coins, but this is where collectors are finding their luck—many have consulted numismatists at renowned institutions to verify the value of these exceptional coins.
Why Is the Coin So Rare?
These 1983 “new pence” coins were not distributed for general circulation. Instead, they were included in special collector sets produced by the Royal Mint. As a result, only a few of these coins have been seen in public, making them extremely scarce and highly sought after by collectors.
The coins are also struck to a higher quality than normal circulating coins, which adds to their appeal. Some experts suggest that even a Santander-issued catalogue might list these items under high-value numismatic collections.
How Much Are They Worth?
If you manage to find one of these rare 1983 “new pence” coins, it could be worth much more than its face value. Experts suggest that they can sell for over £1,000, depending on the condition of the coin. As the Coin Collecting Wizard, a popular expert in the field, explains:
The 1983 ‘new pence’ 2p coin is one of the rarest decimal coins ever struck, worth over £1,000 to collectors. In 1983, the Royal Mint had already changed the reverse legend from ‘new pence’ to ‘two pence’ back in 1982.
He added:
However, a small number of 2p coins dated 1983 were accidentally struck with the old ‘new pence’ inscription.
How to Identify the Error
The key to identifying this rare coin is to check the reverse side for the “new pence” inscription. Only the 1983 version of the coin with this error holds such significant value. It is crucial to remember that not all 1983 2p coins are valuable—only those with the mistaken wording.
He continued:
These coins were not issued for general circulation and are believed to have been included only in a few special collector sets, making them extremely scarce.
If you find one with the date 1983 and the words ‘new pence’ rather than ‘two pence’ you may be holding a coin worth a four-figure sum. Just don’t forget that it is only the year 1983 and it must say ‘new pence’ instead of ‘two pence’.
If you follow these simple rules, it will help. Good luck, you’re going to need it.” As stated on the Royal Mint’s website
In 1983, a small number of 2p coins were mistakenly struck with the wording ‘new pence‘ on the reverse.
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.
