If you’ve ever casually glanced at your spare change, now might be the time to take a closer look. One rare £2 coin released by the Royal Mint could be worth as much as £500—and it might still be hiding in circulation.
This extraordinary coin, minted in 2014 to commemorate the 100th anniversary of the start of World War I, features the iconic image of Lord Kitchener, famously associated with the “Your Country Needs You” recruitment posters. But what sets this coin apart from millions of others is a rare minting error that turns an ordinary £2 into a collector’s goldmine.
The Error That Could Earn You Hundreds
The standard issue of the Lord Kitchener £2 coin is common enough, with around 5,720,000 believed to have been released into circulation. Most of these are only worth their face value. However, a small number of coins were struck without the words “Two Pounds” on the obverse (the heads side) of the coin.
This subtle minting error has sent collectors into a frenzy. The first recorded sale of one of these error coins occurred in March 2020, fetching a price of £500. While it’s unclear how many of these error coins remain in circulation today, numismatics experts at Coin Hunter have confirmed they are “very rare” and worth checking your change for.
How to Identify the Error Coin
- Look for the Lord Kitchener design on the reverse (the tails side).
- Flip the coin and examine the obverse (head side) carefully.
- If the words “Two Pounds” are missing, you might have found a high-value error coin.
The 9 Rarest £2 Coins in the UK Today
While the Lord Kitchener error coin is valuable because of a production mistake, the Royal Mint also lists several other £2 coins as rare based on limited mintage numbers. These rare coins can be highly desirable for collectors and sometimes fetch impressive prices in online auctions and coin exchanges.
Here are the 9 rarest £2 coins currently in circulation, according to the Royal Mint:
1. Commonwealth Games Northern Ireland 2002
- Mintage: 485,500
- Why It’s Rare: This is the lowest-minted £2 coin in circulation and one of the most sought-after pieces in UK numismatics.
2. Commonwealth Games Wales 2002
- Mintage: 585,500
- Part of the same four-coin series celebrating the Commonwealth Games held in Manchester in 2002.
3. World War I Royal Navy (Fifth Portrait) 2015
- Mintage: 650,000
- Features a powerful design commemorating the Royal Navy’s role during WWI. The “Fifth Portrait” refers to the Queen’s updated image.
4. Britannia (Fifth Portrait) 2015
- Mintage: 650,000
- A modern take on the classic Britannia, this coin is both symbolic and visually striking.
5. Commonwealth Games England 2002
- Mintage: 650,000
- Another in the Commonwealth series, distinguished by its national flag design.
6. Commonwealth Games Scotland 2002
- Mintage: 771,750
- Slightly more common than the others in the series but still a key collector’s item.
7. Olympic Games Handover 2012
- Mintage: 845,000
- Commemorates the handover from the 2012 London Olympics to the next host city.
8. Olympic Games 2008
- Mintage: 910,000
- Issued to celebrate the 2008 Beijing Games.
9. Olympic Games Handover 2008
- Mintage: 918,000
- Marks the transfer from London to Beijing, preceding the 2012 handover coin.
Each of these coins not only tells a story of British and global history but also has the potential to be a valuable investment.
A Brief History of the £2 Coin
Although the bi-metallic £2 coin entered general circulation in 1998, the coin’s origin dates back to 1986, when a commemorative £2 was struck for the Commonwealth Games in Edinburgh. These earlier editions were single-coloured, made of nickel-brass, and significantly heavier than the modern version.
The post-1997 £2 coin introduced the now-familiar format—nickel-brass center with a cupronickel outer ring—and has since featured numerous commemorative designs from Shakespeare to scientific achievements.
What Makes Coins Valuable?
A coin’s value depends on several factors:
- Mintage Numbers: Lower mintage often means higher value.
- Condition: Coins in uncirculated or mint condition fetch higher prices.
- Errors or Misprints: Mistakes during the minting process can make coins uniquely valuable.
- Historical Significance: Commemorative coins marking important events tend to be more collectible.
Final Thought: Is There Treasure in Your Pocket?
The next time you receive change, don’t overlook that £2 coin. It could be a Lord Kitchener error edition worth hundreds, or one of the Royal Mint’s top 9 rarest coins in the UK. With collectors always on the lookout for unique or limited-edition coins, having a sharp eye could literally pay off.
As the Royal Mint celebrates over 27 years of circulating £2 coins, there has never been a better time to start your own coin hunt. Whether you’re new to numismatics or simply curious about what your wallet holds, a small piece of metal could carry a big surprise.