A rare two-pence coin made with a 'major error' on it has sold for £700 at auction - 350 times its original market value.

At first glance, it can be hard to spot what is wrong with the 1983 2p coin which went under the hammer at RWB Auctions.

But the super rare coin has garnered the interest of collectors across the world due to its unusual wording.

An error from the UK's Royal Mint means that the 2p coin reads 'new pence' instead of 'two pence'.

ERROR: The 2p coin says 'new pence' instead of two pence (Image: RWB Auctions / SWNS)

Collectors say this subtle error was likely produced when an old die was used to strike the coin, and very few of these coins exist.

The 2p coin sold for £700, which is 350 times its original market value.

The handful of these coins can be found in sets produced in collaboration between The Royal Mint and Italian drinks company Martini & Rossi as part of a promotional giveaway labelled 'The Great British 1983 Coin Collection' on the cover.

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But although thousands of the sets were released, only a small number feature the rare 2p coin.

Children born in the 1980s are now being urged to check their coins in case they have one of the rare coins.

“It is worth checking old coin collections for this set, particularly if you were born in 1983," said Jon White, of RWB Auctions.

"Someone may have bought you one as a baby or as a Christening present. If they happened to get hold of a rare one, then you have a very valuable gift on your hands.”