Posts Tagged ‘Error Coin’
New Pence Two Pence – how much is the 1983 2p worth?
When the UK switched to decimal coinage in 1971, it was decided that the word ‘new’ would be included in the denomination on some of our coins to avoid confusion between the new decimal coinage and the old currency.
By 1982 the coins were no longer new so the word was dropped, and the 2p design changed from ‘New Pence’ to ‘Two Pence’.
A common misconception is that all ‘New Pence’ coins are rare, but in fact almost 1.5 billion of these coins were initially issued in 1971 and circulating mintage figures from decimalisation to 1981 (after which the design changed) are actually all in the hundreds of millions:
As you can see from the chart above, no 2p coins were issued for circulation between 1972 and 1974, so if you find one of these in your change it will actually be taken out of a Proof set, not intended for circulation.
1983 ‘New Pence’ Error 2p
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’.
Whilst it’s not known exactly how many of these error coins were struck, in 1983 2p coins were only struck for commemorative sets and not issued for circulation. Evidence seems to suggest that affected coins were issued as part of special souvenir sets that also did not enter general circulation – although if these sets were broken open and spent then you could be in with the chance of finding one in your change…
How much is it worth?
If you’re lucky enough to find a 1983 ‘New Pence’ 2p in your change, not only does the rarity of this coin make it more collectable, but the coin was also struck in uncirculated quality – meaning it won’t have the scratches and blemishes of circulation coins.
This means a collector would most likely be willing to pay a little more to get hold of one on the secondary market.
The individual 1983 2p coin has been known to sell for £500 – £700, however the 1983 coin sets have been known to sell for over £1,000 on the secondary market!
If you do decide to look for this coin on the eBay and other secondary market sites, beware of fraudsters looking to pass off a ‘New Pence’ 2p from any other date as a rare coin.
The image below shows a 1971 2p coin listed for £2,000! Although this coin might be considered more collectable as it was the first UK 2p ever issued, this also means that nearly 1.5 billion 1971 2p coins were struck, making it the most common 2p coin issued.
Remember that it’s the 1983 version of the coin which was struck in error and this is the one you should be looking out for.
Have you ever come across a 1983 ‘New Pence’ 2p coin? Let us know in the comments below!
If you’re interested in coin collecting, our Change Checker web app is completely free to use and allows users to:
– Find and identify the coins in their pocket
– Collect and track the coins they have
– Swap their spare coins with other Change Checkers
Sign up today at: www.changechecker.org/app
Have I found a rare coin? £2 ‘errors’ explained!
So you’ve noticed something’s not quite right with the £2 coin you’ve just found in your change. A quick web search of the strange variation you’ve noticed shows a plethora of eBay listings and news articles claiming that you might have just hit the jackpot and your ‘error’ coin is worth a small fortune! But before you think about selling your coin, you should first find out a bit more about how these errors occur.
Read on to learn more about some of the mis-strikes found on £2 coins and how their bi-metallic quality causes the differences to be something entirely more spectacular than those found on monometallic (single metal) coins.
Striking bi-metallic coins
In order to understand why mis-strikes on bi-metallic coins are often more pronounced than monometallic coins, it’s first a good idea to look into how these coins are produced.
When striking £2 coins, the first step is to punch a hole through a blank planchet to create the outer section. The inner core is taken from a different metal, sized to fit inside the outer ring.
A groove is milled around the edge of the inner core so that when both parts are struck together, the metals will fuse as the outer ring deforms and spread into the groove, locking it into place.
Now that we know how £2 coins are struck, here are some of the mis-strikes and errors that can occur in the process…
Clipped Planchet
Image Credit: Coin News
This first example shows how the inner core was punched out from the end of the sheet of metal used for blanks, forming a straight or ragged edge clip.
Whilst this also occurs with monometallic coins, the pairing with an outer ring exposes a large gap which is much more noticeable.
The Royal Mint strike millions of coins each year, so it’s inevitable that variances will occur during the striking process and can’t always be picked up during quality control, despite the fact that this particular coin would weigh less than the standard 12g £2 coin. However, a small quantity of coins do sometimes manage to slip through the net and as I’m sure you’ll agree, they make for interesting collecting.
But before you pay over the odds for one of these coins, beware of fakers! Some coins are manipulated to look like mis-strikes or error coins and sold to unsuspecting buyers. Check the clipped planchet edge of the coin to see if it’s genuine by making sure the detail of the design fades away towards the edge rather than suddenly stopping, which would indicate the coin had been cut.
Off Centre Inner Core
Image Credit: Coin News
This image shows an inner core which hasn’t been aligned properly prior to being struck.
Due to the way the inner and outer core are struck together with the two metals being lined up and then fused together during striking, a misalignment will mean that the inner core spills into the outer ring, as seen in the image above. There might also be a gap between the two metals on the opposing join.
This mis-strike is thought to be fairly common on the bi-metallic 12 sided £1 coin as well as some of the Technology £2 coins and even foreign bimetallic coins, but have you ever spotted one in your change?
Faulty Outer Ring
Our next example shows a faulty planchet or outer ring, where the inner core is exposed.
In the image above, you can actually see the specific engineering design where the inner core is grooved to help the metal bond to the outer ring and fuse during striking.
Similar to the first mis-strike we looked at, this could be caused by a clipped planchet, this time created when the outer ring was punched, however coins like this may also be caused by tampering post striking, for example by fakers trying to replace the inner core of a £2 with another coin to pass off as a rare error.
The Holy Grail of Bi-metallic ‘Errors’
Image Credit: Coin News
This type of error is described as the Holy Grail of bimetallic ‘errors’ and is the result of the nickel-brass £2 blank not having the inner core section punched out before being struck.
This means that the £2 coin is made from one full piece of nickel-brass, completely contrasting the very notion of a bimetallic coin.
A 2007 monometallic £2 was verified by The Royal Mint and in the email confirming the mis-strike, it was mentioned that they had only seen 4-5 similar coins before.
This rare striking error is highly sought after and coins have achieved extraordinary prices in private sales and auctions.
Foreign Planchet
Image Credit: Coin News
Another £2 error that can occur is when it’s been struck on the wrong planchet – a blank normally used to strike a different coin.
As The Royal Mint strikes a huge quantity of coins for different denominations and even different countries, blanks can sometimes end up in the wrong striking chamber, creating a wrong or foreign planchet error.
This is actually down to human error rather than a mis-strike and the coins would normally be picked out during quality control, however some have been spotted in circulation, not only on the £2 coin, but on various different denominations across UK coins and world wide.
Other £2 ‘errors’ that are worth keeping your eyes peeled for!
2014 First World War Kitchener £2 – Missing denomination
This £2 coin was issued in 2014 to mark 100 years since the outbreak of the First World War. It features an image of Lord Kitchener who was a prominent figure on British government propaganda campaigns during the time.
5,720,000 of these coins entered circulation, meaning it could be quite easy to stumble across one in your change. However, a small number of these coins are supposed to have entered circulation without the ‘Two Pounds’ denomination on the obverse.
Sometimes the denomination of the coin will feature on the reverse design, meaning it won’t appear on the obverse too. This can be seen on the Trinity House £2 coin which was issued earlier in the same year as the First World War £2.
It’s possible that the dies used to strike the obverse of the Trinity House £2 coin wasn’t replaced when the production of the First World War Centenary £2 coins began, resulting in the absence of a denomination.
We’ve only heard of two reports of these ‘error’ coins being found in circulation. However, Lockdales Auctioneers officiated the sale of the very first one back in March 2020 to the value of £500!
2015 First World War Navy £2 – ‘Flag’ error
When it was issued in 2015, the First World War Navy £2 coin caused a stir in the collecting world as it was revealed to be one of the rarest £2 coins, with just 650,000 struck for circulation.
The original Navy £2 design (above) shows the coin without any markings on the top right of the mast, but some eagle eyed collectors noticed that their £2 looked to have a flying flag.
As you can see from the two coins pictured above, the coin on the right looks like it has a flag atop the mast, whereas the first coin is free from any markings.
A number of people enquired about whether there were two different designs of the Navy £2 coin struck for circulation, however it was confirmed that the addition of the ‘flag’ was not intentional, and most likely caused by a cracked die.
So how much is my ‘error’ coin worth?
Whilst genuine error coins are out there and can be valuable, so too are a number of common mis-strikes and myths, or even fakes that have been manipulated to look like an error.
These coins certainly make for interesting collecting and the rarer variations, such as monometallic £2 coins could certainly sell for way over face value.
In fact, one such monometallic mis-strike found on a 2007 Technology £2 is estimated to be worth over £1,000!
Ultimately, as with all coins, it’s all down to how much an individual collector is willing to pay to add that coin to their collection, so we recommend checking out our 6 Point Guide to valuing your coins to determine it’s worth.
If you’ve found a £2 coin with a mis-strike, it’s also worth having it verified and authenticated by The Royal Mint, who will supply a letter detailing their findings.
So have you found any interesting variations on your bimetallic £2 coins? Let us know in the comments below!
With thanks to Scott Wren from Coin News.
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Why you should be collecting £2 coins
With some truly fantastic releases recently, the UK has fallen head over heels for the 50p, with many collectors focusing on hunting down these seven sided gems for their collection.
But whilst collectors are busy scouring their change to find the latest and greatest 50p releases, the £2 coin, it seems, has taken a bit of a back seat…
So why should you be collecting £2 coins?
In this blog, we’ll take a look at which rare coins should take pride of place in your collection, which potential error coins might be out there and we’ll also share with you our top three £2 coins to look out for.
Rare and Error Coins
With over 37 different UK £2 coin designs in circulation, it’s worth paying attention to the £2 coins in your change, as you never know when you might come across something extra special…
2002 Commonwealth Games NI £2
The 2002 Commonwealth Games England £2 Coin is officially the most scarce £2 coin in the UK, ranking as 100 on our Scarcity Index.
Four coins were released in 2002 to celebrate the Commonwealth Games and at first glance, you might struggle to spot the difference between them. They all feature the same running athlete trailing a banner behind. But each has a different cameo, representing each of the four constituent parts of the United Kingdom.
The fact that this coin is so hard to spot and has such a low mintage of just 485,500 means that the Commonwealth Games NI £2 is the holy grail of £2 coin collections.
2015 Britannia £2
It wasn’t until 2016, when The Mint released the mintage figures for the 2015 coins, that collectors realised just how special the new definitive £2 coin was.
Only 650,000 of the 2015 date Britannia £2 coins had been stuck for circulation, making it one of the most scarce UK £2 coins ever issued! So scarce in fact that there were fewer of this coin than the England and the Scotland coins from the famous 2002 Commonwealth Games series.
This makes the 2015 Britannia £2 joint third scarcest £2 coin in circulation, alongside the Navy £2.
Inverted Effigy Britannia £2
First discovered by a Change Checker, and later confirmed as a genuine error by The Royal Mint, this unusual strike appears on a handful of the 2015 Britannia £2 Coins.
The Royal Mint has accounted for the seemingly impossible misalignment of the Queen’s effigy as “almost certainly the result of one of the dies working loose and rotating during the striking process”.
The result is that the Queen’s head is offset by around 150 degrees compared to the Britannia design on the reverse of the coin.
We analysed 5,000 circulation Britannia £2 coins and our results suggested that the Inverted Effigy may have affected as few as 1 in 200 of the coins struck – in other words around just 3,250 coins.
2015 Navy with Flag
We already know the 2015 Navy is one of the rarest £2 coins with just 650,000 struck for circulation, however Change Checkers have speculated whether there are two different design variations…
The original Navy £2 design (left) shows the coin without any markings on the top right of the mast, but the coin on the right looks like it has a flying flag.
The Royal Mint strike up to 5 billion coins a year and from time to time cracks on the die cause pools of metal to form on the coin whilst striking. It just so happens that this bit of metal has caused the markings on these coins to look like a flying flag on the ship – fuelling speculation that two different variations were struck.
Whilst it doesn’t add any extra value to the coin, it’s certainly one to look out for and makes for interesting collecting.
2005 ‘Pemember, Pemember’ Gunpowder Plot £2
The 2005 Gunpowder Plot £2 commemorates the 400th anniversary of Guy Fawkes’ failed assassination attempt on King James I, but the coin is more familiar to collectors for having a spelling mistake in the edge inscription. The timeless quote “Remember, remember the fifth of November” has been found with various combinations of Pemember, Pemembep, Novemebep and so on. The common factor here is the ‘R’ which appears as a ‘P’.
Sadly for collectors this is apparently not a striking error. The explanation from the Royal Mint is that the down-stroke of the R coincides with the milling around the edge, and as the coin has worn over time, the letter has become less defined. This categorical statement from the Mint means that any mark-up in price for a supposed ‘error’ is completely unjustified, and although it makes the coin more interesting, it is not the mistake which it is often perceived to be.
1997 Maklouf ‘Queen with a Necklace’ £2
The ‘Queen with a Necklace’ £2 has an enduring legacy in the collecting world. The very first bi-metallic £2 coins were issued in 1997, just prior to the Queen’s portrait change in 1998. This meant that the older portrait by Raphael Maklouf was only used for one year: 1997. His version featured Queen Elizabeth II wearing a necklace, which is how the nickname was derived.
When the portrait change was announced, the new £2 coins were snapped up by collectors believing them to be a future rarity. As it turned out, a mintage of nearly 14 million means the ‘Queen with a Necklace’ £2 is not one of the rarest coins in circulation. Nevertheless, with only one year of issue, it still holds an undeniable interest for collectors.
2007 Abolition of Slavery £2
There is a misconception that there were two types of the Abolition of Slavery £2 coin struck for circulation. It is true that two versions of the coins exist – one has a textured finish whereas the other has a smooth finish and features the artist, David Gentleman’s initials (circled).
The key difference is that only the textured version was struck for circulation, and if you find one of the smoother types in your change, you have actually found a coin which has been taken out of a presentation pack. This makes it considerably rarer than the circulating version, so it is worth keeping rather than spending!
The Top Three £2 Coins to Collect
When it comes to collecting, £2 coins are some of our favourites to look out for, but out of the rare and wonderful coins mentioned above, here are our top three £2 coins to collect.
1) It’s no surprise that the UK’s scarcest £2 coin in circulation should come in first place, but you’ll not only have to be very lucky to come across one, you’ll also have to be eagle eyed to spot the correct flag for the Commonwealth Games Northern Ireland £2 coin.
2) Coming in close second is the third scarcest £2 coin, but can you challenge yourself to see if you can find one with the ‘flag’ variation as mentioned above?
3) And as our third placed coin, the 2015 Britannia actually sits in joint third place as the UK’s scarcest £2 in circulation and our challenge to you is to try and find the inverted effigy of this coin too!
Check out how we got on with our own £2 coin hunt and all the fantastic designs we were able to find in a £500 bank bag:
The £2 coins that haven’t entered circulation…
You may have noticed a lack of 2017 coins in your change, as to date The Royal Mint haven’t confirmed if they will enter circulation.
This all depends on demand for specific denominations at the time as UK Banks and Post Offices may not request every denomination every year if there is already sufficient coin in circulation.
Based on The Royal Mint’s figures, we do know that no 2017 Britannia coins were struck for circulation. But there have been 13 other coins designs issued since 2017 that we are yet to find in our change, including:
- Jane Austen
- WW1 Aviation
- Frankenstein
- Armistice
- RAF Badge
- RAF Spitfire
- RAF Vulcan
- RAF Sea King
- RAF Lightning
- Captain Cook
- Samuel Pepys
- D-Day Landings
- Wedgwood
All of these coins are available to purchase in Brilliant Uncirculated quality here, but we will of course be the first to update you as soon as we have more information on their potential release.
A Treasure Hunt
It can be quite a challenge tracking down every single £2 coin for a complete collection. Remember, if you’re struggling to find those last few coins in your change, you can source them online, in auctions, on Facebook coin groups and of course by swapping with like-minded collectors on our web app.
If you’re interested in coin collecting, our Change Checker web app is completely free to use and allows users to:
– Find and identify the coins in their pocket
– Collect and track the coins they have
– Swap their spare coins with other Change Checkers
Sign up today at: www.changechecker.org/app