Check your wallet for this £2 coin from 2014 worth £1,240 - look for this error

A coin collecting expert has urged people to check their wallets and coin jars at home for a valuable coin from 2014 that could be worth £1,240. However, it is vital that the coin has a specific error - or it won’t be worth much.

According to the TikTok account, the Coin Collector UK, a misprinted version of the Lord Kitchener £2 recently sold at auction for an impressive amount. To start with you need to check to see if you have a 2014 print featuring Lord Kitchener, famous from First World War recruitment posters.

The Royal Mint produced 5,720,000 copies of these £2 coins, to mark 100 years since the outbreak of the First World War. But for it to be worth a lot of money the coin needs to feature a specific misprint - known as a “mule error”.

On his TikTok channel, the Coin Collector UK explained: “One of these £2 coins sells for £1,240. So the one that you want to be looking out for in your change, is this one right here. This is the Lord Kitchener from 2014 and there's an extremely rare error to be found on this coin."

To check if it is valuable you need to check to see if the side of the coin featuring Queen Elizabeth II is missing the words “two pounds”. This is what makes it especially rare and sought after.

He continued: “So, the error that you want to be checking for when we flip the coin over to the Queen's head side, the obverse, you can see just at the bottom, it says the words ‘two pounds. However, the Royal Mint mistakenly minted a number of these without the words ‘two pounds’ and this is called a mule error.”

Technically this coin holds “no value” because it doesn't have a denomination. He said: “This is a very rare error and some error collectors will pay a lot for this coin. The average selling price seems to be around the £1,000 mark. One sold just a few months ago at auction for £1,240.”

He added: “So the next time you come across the Lord Kitchener £2 coin in your change, it's definitely worth checking. If it doesn't say the words ‘two pounds’ you could have a very rare coin with a significant amount of money.”