We are all being urged to check our change for a rare 2p coin that could be worth £1,000.

The coins date back to 1983 and are rising in value due to a rare mistake in the wording on the coins.

The error makes it highly desirable to collectors, with just a small number of the coins minted.

TikTok user @CoinCollectingWizard explained: “Did you know about the New Pence 2p coin worth £1,000? Don't worry though this one is 1971 and not the rare date.

"Want to know what rare New Pence coins to look out for, keep watching. 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."

@coincollectingwizard Cleaning a coin worth £1000 😱🤯 #cleaningcoins #twopence #newpence #2p #rarecoins #coincollecting #shocked ♬ Romantic Classical Piano Solo - FREDERIC BOUCHAL

The coins to look out for were struck with the old inscription of New Pence rather than Two Pence, but still carry the 1983 date.

“"If it says New Pence on the reverse instead of the words Two Pence then you have found it.,” they explained.

“If you are lucking enough to find a 1983 New Pence 2p in your change, then it is worth around £1,000. You are more likely to find the coin in the 1983 Royal Mint set though as this is where the mistake happened."

What makes a coin valuable?

The 50 pence piece has become the most valued and collected coin in the UK, with many collectable designs appearing on its heptagonal canvas.

Its 27.5mm diameter makes it the largest of any British coin, and allows space for decorative pictures. It has often been used to celebrate big events over the past 50 years of British history.

The rarest coins tend to be of the greatest value, with the mintage (number of coins with each design made) being the fundamental attraction for collectors.

Along with the design, other aspects of the coin which increase value are the condition of the coin and whether it has an error in its design.

The way in which it is sold can also determine the coin’s value - while some coin collectors will bid vast amounts of money on eBay or at auction, others opt for more robust valuations by selling via a coin dealer.

Top 10 most valuable 50p coins, according to Royal Mint

Here is a list of the top 10 most valuable coins, when they were made and how many were minted:

  1. Kew Gardens (2009), 210,000
  2. Olympic Wrestling (2011), 1,129,500
  3. Olympic Football (2011), 1,161,500
  4. Olympic Judo (2011), 1,161,500
  5. Olympic Triathlon (2011), 1,163,500
  6. Peter Rabbit (2018), 1,400,000
  7. Flopsy Bunny (2018), 1,400,000
  8. Olympic Tennis (2011), 1,454,000
  9. Olympic Goalball (2011), 1,615,500
  10. Olympic Shooting (2011), 1,656,500