When it comes to spending loose change in your purse or wallet you may never think to look closely at the coins, especially when dealing with copper coins

A rare 2p coin could be lurking in your change, and it might be worth up to ￡1,000.

An expert has revealed that some two pence coins could be worth a small fortune.

TikTok user @Coincollectingwizard, who has over 200,000 followers on the platform, regularly shares tips and insights on the coins that could be worth a mint.

In one of their recent videos, the coin collector revealed that some two pence coins could be worth up to ￡1,000.

The video states: "This is a 2p coin and 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's not known how many of these error coins were struck and the coin collector states that affected coins were issued as part of Royal Mint souvenir sets that also did not enter general circulation.

The coin collector adds: "If these sets were broken open and spent then you could be in with the chance of finding one in your change."

If you're lucky enough to find a 1983 new pence 2p in your change then it could be worth around ￡1,000.

On the official Royal Mint website, under Coinage FAQs, one of the questions asked is "I have a 2p piece with the inscription 'NEW PENCE' on it. Does this make the coin rare or valuable?"

The response from the Royal Mint reads: "All 2p coins struck between 1971 and 1981 included the words 'NEW PENCE' as part of their reverse.

"In 1982 and in subsequent years the words 'NEW PENCE' were replaced with the word 'TWO PENCE'. However, in 1983 a small number of 2p coins were mistakenly struck with the wording 'NEW PENCE' on the reverse.

"These coins were produced to brilliant uncirculated quality - a standard higher than ordinary circulating coins - and were included in special sets intended for collectors.

"Since there are relatively few coins with the date 1983 and the inscription 'NEW PENCE' in circulation, they may well have a value higher than face value to a collector. The Royal Mint is, however, unable to comment on the value of any individual coin and we would recommend that you should consult a coin dealer."

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