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New Pence 2P Coin– how much is the 1983 2p worth? When the UK switched to decimal coinage in 1971, it was decided that the word ‘new’ would be included in the denomination on some of our coins to avoid confusion between the new decimal coinage and the old currency. By 1982 the coins were no longer new so the word was dropped, and the 2p design changed from ‘New Pence’ to ‘Two Pence’. A common misconception is that all ‘New Pence’ coins are rare, but in fact almost 1.5 billion of these coins were initially issued in 1971 and circulating mintage figures from decimalisation to 1981 (after which the design changed) are actually all in the hundreds of millions. 1983 ‘New Pence’ Error 2p 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’. Whilst it’s not known exactly how many of these error coins were struck, in 1983 2p coins were only struck for commemorative sets and not issued for circulation. Evidence seems to suggest that affected coins were issued as part of special souvenir sets that also did not enter general circulation – although if these sets were broken open and spent then you could be in with the chance of finding one in your change…