If you have one of these £2 in your back pocket it could be worth up to 350 times its face value
An expert has issued a warning to UK households with one specific £2 in their back pocket.
The Lord Kitchener two pound coin has been flagged by coin specialist, UkCoinHunt, as one with extreme value, specifically up to 350 times what it appears to be worth at first glance.
According to the coin whizz, the £2 is worth between £600 and £700 due to an error on the rim of the coin.
He said: “Why can this one be worth £600 to £700?
“There is in fact a new error version of this £2.”
In the TikTok video the coin expert flipped the coin around from the original image of the British Army officer and showed the image of the late Queen Elizabeth II on the other side.
READ MORE: Expert warns UK households over ‘rare’ 50p coins sold on eBay for up to £100,000
He continued: “So when I spin it around, as you can see, my coin has the letters two pounds right down here.
“Now, if yours doesn’t have that, you have got the error version, and these typically sell for about £600 to £700,” according to the specialist.
The content creator said he previously had a woman contact him regarding one of the coins, so it is entirely possible you could have some somewhere buried at home.
He added: “So if you have a few of them [£2 coins], it’s worth checking. But make sure it does not have the words ‘two pounds’ down there [on the bottom rim underneath the Queen’s head.]”
The collector showed his own error edition of the coin, explaining that if an individual does have the coin, it could be “worth a lot, a lot of money.”
Commenters responding to the coin expert’s video had mixed views on the matter, with numerous people explaining they believed they had the coins pictured.
READ MORE: UK households with £1 coins urged to look for ‘mistake’ worth up to £500
One said: “I have all of them, I genuinely didn’t think my collection was that good.”
However, some weren’t so enamoured by the coin warning: “Yes, I have all of these and I have a lot more is b*******.
“Nobody buying it. Tell me one person buying it. I’ll give them everything half price. I have over 1000 coins collectible ones.”
How to check if you have a rare coin
BullionByPost has issued advice on what makes a coin rare, explaining that there are a variety of factors in determining this, including its mintage number, the decline in the number of coins produced and its circulation.
The website explained whether there is an error in the minting, or some variation within the coin, can also help to determine a coin’s rarity.
Other factors comprising of the market demand, grade and quality are also considered when deciding a coin’s uniqueness.
The site added: “Valuable coins are not necessarily scarce coins, but rarity will always add to the value of a coin. Precious metal bullion coins, such as gold Sovereigns, have an initial high price because of their metal content.
“That price will never be lower than its metal value on the commodity markets. Rare bullion coins will have additional numismatic value over and above their metal content.”
