Expert shares how to spot rare £2 coin worth £1,000 - but it must have this error
The Lord Kitchener £2 coin was issued in 2014 to commemorate the start of the First World War
A specialist has encouraged individuals to be on the lookout for a scarce £2 coin that could potentially fetch up to £1,000. This 2014 coin is highly coveted by collectors due to a unique error.
The coin was minted to mark the commencement of the First World War. The reverse side (the tail side) bears the image of Lord Kitchener, the former British Secretary of State for War.
While this might be "easy to spot" in your loose change, it only holds significant value if it carries the error. An expert, known online as the Coin Collecting Wizard, explained: "The Lord Kitchener £2 coin from 2014 is easy to spot with its bold 'your country needs you' design.
"And most of them are only worth £2 but there's a rare error version that collectors go crazy for." This error can be identified on the obverse of the coin (the head side).
He continued: "On the Queen's side the words 'two pounds' are supposed to be there but on some they're completely missing. "This little mistake turns an ordinary coin into something worth over £1,000.
"So next time you're checking your change take a proper look, you might just be holding a small fortune without even knowing it. Just remember it's only the rare mule error that's worth serious money - that means the coin must be completely missing the 'two pounds' wording on the Queen's side.
"If your coin has the full design with £2 clearly shown then it's just the standard version and worth exactly that, £2." But he cautioned: "Don't get caught out by listings online trying to sell the regular ones for silly prices, it's the error that makes the difference."
In February last year, an incorrectly printed Lord Kitchener £2 coin fetched an impressive £1,000 at auction. It was verified by the Royal Mint before the sale, as reported by This Money.
A mere two instances of such misprinted currency have been discovered in public hands. One such erroneous coin was auctioned by Lockdales Auctioneers in March 2020, reaching a hammer price of £500.