Rare 2p coin from 1983 could be worth over £1,000
Have you ever looked at the cash in your pocket and questioned if one of them can be worth greater than its real rate? If you have a UK 2p coin from 1983, you could be protecting a rare coin that would be worth over £1,000.
Most people best recognize approximately cash, which includes the pound or the penny, but very few apprehend that a small printing mistake may want to make a normal coin extremely precious. In 1983 the Royal Mint by accident issued some 2p coins with an older design, with “NEW PENCE” written on them in place of “TWO PENCE.” Such coins in the intervening time are in notable call for among collectors.
In this blog, we will inform you why this coin is so special, how it can be diagnosed, and what steps must be taken if you have this sort of coin.
Why is the 1983 ‘NEW PENCE’ 2P coin special?
In 1971, Britain modified its forex device and followed the new decimal system. Along with this, cash of the latest layout has been issued, which includes the 2p coin. “NEW PENCE” is written on the lower back of these new coins. This series endured till 1982.
But in 1983, a change came and “TWO PENCE” started being written instead of “NEW PENCE.” During this time, by mistake, the old “NEW PENCE” die was used on some coins. Such coins were made in very small numbers, and now they have become a rare collectible item.
Why is this coin so expensive?
In the world of coins, any object is considered valuable only when it is very rare. The price of the 1983 “NEW PENCE” 2p coin is so high because this mistake happened in very small quantities, and only a few coins came into circulation in this form.
Collectors look for coins that have a special story and are not commonly found. And this 1983 coin is part of one such historical mistake, which happened at the time of change in the currency of Britain.
The story behind the minting mistake of 1983
In the early Eighties, the Royal Mint determined to update the layout of its cash. The word “NEW PENCE” was removed, and “TWO PENCE” was commenced to be written in its vicinity. But in 1983, with the aid of a mistake, the vintage die turned into again carried out on some coins, and “NEW PENCE” became revealed on them.
The wide variety of such coins turned into very few, and that is why these coins are considered uncommon today. This mistake not only marks a historic turning point but also indicates that from time to time a small mistake can cost loads—both in actual phrases and symbolically.
How to identify a rare 1983 ‘NEW PENCE’ 2P coin
If you think you have such a coin, then first of all you should check the following things:
Check the minting year.
The year written on the coin should be 1983. If the date is not clear, then it may be a fake coin.
Check the writing on the back.
If “NEW PENCE” is written on the back of the coin instead of “TWO PENCE,” then it may be the same rare coin.
Check the condition of the coin.
How shiny and clean the coin is also has a big impact. If the coin looks brand new and has very little wear, it could be worth even more.
Effect of coin condition on its value
In the world of collectibles, their condition matters a lot. The newer and without scratches a coin is, the more expensive it will sell for. If you have a 1983 “NEW PENCE” 2p coin and it is almost new, you could get a big amount of money.
If the coin is slightly worn or worn, it might be worth less, but because this coin is rare, it is wanted even if it is in poor condition.
What is an approximate value of this rare coin?
If you are fortunate and you possess this coin, you can earn a great amount of money. Its worth is determined by the state of the coin:
In good condition:
If the coin is clean and has been in normal use, it could be worth £500 to £700.
In very good or new condition:
If the coin is almost new or uncirculated, it can be worth over £1,000.
As a collectible:
Sometimes the coin is in a set of the entire 1983 coin, and such a set can sell for over £1,000. It has been listed at up to £1,383.72 on some sites.
Ways to sell your rare coin
If you want to sell your coin, here are some reliable options:
- eBay
- EBay is a well-known online platform where you may sell your coins. Take top pictures and give an accurate description of the coin’s situation. Determine your price by means of looking at different listings before selling.
- Professional dealer
- If you want to deal directly, contact a dependable coin dealer. It is important that the provider is a member of the British Numismatic Trade Association (BNTA).
- Auction Houses
- If your coin is very precious, you may sell it through a well-known auction house. Here, severe creditors are often inclined to pay an excellent charge.
Role of BNTA
If you doubt the authenticity of your coin or are unable to decide its value, you could contact the British Numismatic Trade Association (BNTA). They also provide authentication services and can connect you to an awesome supplier. Through them, you can apprehend the price of coins and make secure transactions.
FAQs
What makes the 1983 “NEW PENCE” 2p coin so valuable?
A rare minting error used an outdated die, creating limited coins with “NEW PENCE,” making them highly collectible.
How can I identify the rare 1983 2p coin?
Check for “NEW PENCE” on the reverse and ensure the year is 1983—normal coins say “TWO PENCE.”
Why was “NEW PENCE” used instead of “TWO PENCE” in 1983?
The Royal Mint mistakenly used an old die during the transition, creating a small batch of error coins.
