Rare mistake on 2p coin is 'hard to spot' but it could be worth £700

A highly sought-after 2p coin, featuring a subtle error, has been sold at auction for a staggering £700 - a whopping 350 times its face value.

The rare coin, which is difficult to identify, was purchased at an auction held by RWB in Wiltshire. According to experts, the error likely occurred when an outdated die was used to strike the coin.

The 2p coin, sold by RWB Auctions, is part of a limited number of "Great British Coin Collection" sets released in 1983, which included seven other coins. Although thousands of these sets were produced, only a small fraction contain the rare 2p coin.

A spokesperson for RWB Auctions stated: "Great British Coin Collection sets with the normal 1983 2p are worth £5 to £10, but sets with the rare error 2p have been known to sell for £1,000 or more."

"We do not know exactly how many of these sets contain the 1983 error 2p, but they are certainly scarce and valuable. It is worth checking old coin collections for this set, particularly if you were born in 1983."

How to identify rare coins

The rarest and most valuable coins often have low mintage numbers or feature an error.

Mintage numbers refer to the quantity of a specific coin produced, so the lower the number, the rarer and generally more valuable the coin. Examples of low mintage coins include The Single Market 50p, which has sold for £44, and the Kew Gardens 50p, which has fetched £245.

Error coins, on the other hand, are those that were incorrectly struck during the manufacturing process. Coin collectors could make a pretty penny as the ultra-scarce "lines over face" 50p error coin has fetched up to £1,500 at auction. Likewise, a peculiar rare 25p piece, resembling a 20p, has sold for an eyebrow-raising £1,700.

Cashing in on your own rare coins

Here's the lowdown on how with options like , , and traditional auctions.

While Facebook marketplace tantalises with its easy listing process, it comes with cautionary tales. Watch out for scammers promising to send couriers for your coveted coins you might end up with neither coin nor cash.

You could also meet buyers face-to-face, ideally in a buzzing, bright public spot, avoiding anonymous payment links if possible.

Or take the hassle-free route via auction, arguably your safest bet, where The Royal Mint's Collectors Service steps in. Their connoisseurs assess and value your treasures, all just an email away.

Heads-up, though: they'll charge for their savvy services, and the fee will tally with your collection's size. If you're eyeing eBay to auction off your rare change, remember that market whims dictate your success it's all about what the punters are willing to shell out right then.

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