Have you ever wondered if a common coin that happens to be in your pocket, could change your fate in an instant? If you happen to own a British 2P coin from 1983, then you could be the owner of a rare treasure worth possibly more than £1,000. This is not a fictional concept, it really has happened to some people. Let’s take a closer look at this interesting story and see why this coin is so rare, how to identify if you do have one, and what to do next if you do have one.
What is special about the 2P coin of 1983?
In 1983, the Royal Mint (Britain) made a minting error, and some coins were produced with “NEW PENCE” instead of “TWO PENCE”. While it was still “NEW PENCE” until 1982, it became “TWO PENCE” in 1983. But some coins entered circulation when the mint used an old die which produced the older wording.
This minting error makes this coin extremely rare and valuable today.
Why is this coin so valuable?
The value of any collectible depends on how rare it is. The 1983 2P coin with “NEW PENCE” on it is valuable because:
- It is extremely limited in number.
- It represents a historical mistake.
- It marks a change in the British currency system.
Collectors are always looking for such unique coins, and this coin fits that standard perfectly.
The story behind this historical mistake
In 1971, Britain radically altered its currency system to a decimal system. At first, “NEW PENCE” was written on all new coins, so people could recognize the new system. Then, after 1982, the Royal Mint began to change it to “TWO PENCE”.
In 1983, by mistake, some coins were printed with the old “NEW PENCE” words and this mistake now makes these coins a part of history.
How to identify the rare 1983 2P coin?
If you are thinking that maybe you also have this coin, then look carefully at these points:
- Year: The coin should be of 1983. If the date is erased or not clearly visible, then its authenticity can be doubted.
- Writing: Look at the reverse side of the coin. If it says “NEW PENCE”, it’s likely to be that rare coin.
- Condition: The better condition the coin is in (less worn, shinier), the more it’s worth.
How important is a coin’s condition?
As with any collectable item, the condition of a coin determines its worth. If the coin is in an uncirculated or unused condition the coin may be worth over £1,000.
If the coin is circulated and slightly worn it may be worth less. However, because it is a minting error even in abysmal condition it could still be worth £500 – £700.
What is the potential value?
If you have this coin, it could be worth:
- Normal condition: Around £500–£700
- Near-mint: £1,000 or more
- Complete set: If you have a set of all the 1983 “NEW PENCE” coins, it could be worth over £1,000.
Some sets have been listed on platforms such as eBay for as much as £1,383.72.
Where to sell it?
If you find this rare coin, you have a few options for selling it:
1. Online platforms such as eBay
This is the most popular method. Take good photos of the coin, provide a clear description and look at other sellers’ listings to determine your price.
2. Professional Coin Dealer
If you want to sell directly to someone, contact a trusted dealer who is a member of the British Numismatic Trade Association (BNTA). They can properly evaluate your coin.
3. Auction Houses
If the coin is of very high value, then selling it through auction may be a good option.
Role of BNTA
The British Numismatic Trade Association (BNTA) is a legitimate organization of dealers linked to coins, medals and notes. If you cannot tell if your coin is authentic or not, you can get it verified through BNTA. Their website has a list of reputable dealers and prices.
Conclusion: A small coin, a big fortune
Every day, we spend the change in our pockets without a second thought. However, sometimes – an “ordinary” coin can end up changing our fortunes. The 1983 “NEW PENCE” 2P coin represents a historical mistake, and it can ultimately be a worth its weight in gold! If you happened to stumble across it when going through some old coins, we suggest you don’t spend it. There is an opportunity to make a good profit with the right assessment and selling process. And this little coin in your pocket could even get you getting a little piece of history as well!
FAQs
Q: What makes the 1983 2p coin valuable?
A: A rare minting error where it says “NEW PENCE” instead of “TWO PENCE”.
Q: How much is the 1983 “NEW PENCE” 2p coin worth?
A: It can be worth up to £1,000 or more depending on its condition.
Q: How can I identify the rare 1983 2p coin?
A: Check if the coin is dated 1983 and has “NEW PENCE” on the reverse side.
Q: Where can I sell the rare 2p coin?
A: eBay, coin dealers, or reputable auction houses.
Q: Does the coin’s condition affect its value?
A: Yes, uncirculated or near-mint coins fetch the highest prices.
