Exact two penny coin worth £1,000 but it must feature rare little-known detail

It's no secret there are some rare coins to 'make you retire' lingering out there in circulation. Usually dependent on mintage, condition or even if it features a mistake, certain rare coins are most definitely worth looking out for.

Now Instagram user @CoinCollectingWizard, who boasts 35,200 followers on his platform for sharing tips on coins and banknotes, recently shared a highly sought-after two penny which can sell for an eye-watering price, but only if it features one little-known mistake on the front, so do you own it? The coin in question is the 1983 2p with the words 'New Pence' on the inscription.

He said in his clip: "This 2p coin can be worth £1,000. If you own this coin from 1983 you can sell it for £1,000 today."

Speaking about the 1983 piece, he claimed it must feature the words 'New Pence', so if you have this then you're super lucky.

Showing the coin, he added: "This is what you're looking for, it must be from 1983 and say 'New Pence'.

"The coin was a mistake in a 1983 Royal Mint set and as you can see my set doesn't have it as it says 'Two Pence'.

"So make sure to check all 1983 sets as you might just find it!"

According to ChangeChecker, the mistake occurred when the UK switched to decimal coinage in 1971.

It was decided the word 'new' would be included in the denomination on some coins to avoid confusion between the new decimal coinage and old currency.

By 1982, the coins were no longer new so the word eventually dropped, meaning the 2p design changed from 'New Pence' to 'Two Pence'.

The experts said: "After the design changed from 'New Pence' to 'Two Pence' in 1982, a mistake was made during production of a small number of 1983 coins...

"These coins were actually struck with the old inscription – 'New Pence'."

It is believed the exact quantity of these error coins are unknown. However, in 1983 these 2p coins were only struck for commemorative sets and not actually issued for circulation.

The ChangeChecker claims evidence seems to suggest that affected coins were issued as part of special souvenir sets which also did not enter general circulation.

But saying this, if these sets were broken open and spent then you could well be in with the chance of finding one in your change...