The value of a 1971 “new pence” coin, issued in the UK after decimalization, depends on its denomination and condition.
Important: The term “new pence” was used on coins issued between 1971 and 1982 to distinguish them from the older, pre-decimal pence.
Here’s a breakdown by denomination:
- 1p (penny):
– Standard, circulated: These coins are generally worth their face value (1 penny) or very little more.
– Uncirculated (mint condition): You might get a slightly higher price from a collector, possibly a pound or two.
– Error coins: If a 1971 1p coin has a significant minting error (e.g., a double strike, off-center strike), it could be worth more to collectors.
- 2p (two pence):
– Standard, circulated: These coins are generally worth their face value (2 pence) or a small premium if in good condition.
– Uncirculated: Similar to the 1p, a 2p in excellent, uncirculated condition might fetch a slightly higher price from a collector.
– Error coins: 1971 2p coins with minting errors are considered more valuable, [with examples like a rotated die error selling for over £300].
Several factors influence the value of any collectible coin, including the 1971 “new pence” coins:
- Rarity: The mintage numbers for 1971 “new pence” coins were very high (e.g., over 1.5 billion 1p coins). This means most standard 1971 coins are not considered rare.
- Condition: Coins in better condition (less wear, scratches, etc.) are generally more desirable and valuable to collectors.
- Errors: As mentioned earlier, minting errors can significantly increase a coin’s value.
- Demand: Collector interest and trends can affect the value of specific coins over time.
Note: Be wary of misleading information or inflated prices, especially online. If you believe you have a valuable error coin or a proof issue in exceptional condition, it’s advisable to consult with a reputable coin dealer or grading service for an accurate assessment.
Why is 1971 New Penny rare?
While not rare in the usual sense, the 1971 1p was the very first of its kind. With over 1.5 billion struck, you’ll find them in most piggy banks, but there’s something nostalgic and iconic about the very first decimal penny.
What is a rare 1971 NEW PENCE first edition coin?
Thanks for asking. Very Rare Collector’s Coin. All 2P coins minted between 1971 and 1981 included the words ‘NEW PENCE’ on their reverse. From 1982 onward, the words ‘NEW PENCE’ was replaced with the word. Very Rare 1971 “New Pence” First Edition Coin.
What is the error on a 1971 NEW PENCE?
The back of all Two pence pieces dated between 1971 and 1981 will look like this: In 1982 the Royal mint decided that the Two pence piece was not really that new anymore and replaced the word ‘New’ with the word ‘Two’.
Why is a 1971 2 NEW PENCE coin rare today?
Great question! The allure of these coins lies in a rare error on a limited batch that mistakenly altered the wording. This mistake has turned the affected coins into highly sought-after items, with the correct pre-1983 ‘New Pence’ coins paling in comparison to their erroneous counterparts.