A rare two pence coin has sold for a cool £300 on eBay, after eagle-eyed collectors spotted a production error on the front of it.

Despite being listed as 'used', and in 'ok condition', the coin sold for more than 15,050 times its market value on the auction site - attracting 33 bids.

The coin is highly sought-after by collectors as it says 'New Pence' on the front - a quirk which only a handful of 2p coins manufactured after 1981 can boast of.

2p coins made between 1971 and 1981 had the words 'New Pence' written on them, but the Royal Mint decided to change them to say 'Two Pence' after 1981, reports the Manchester Evening News.

However (this is where the error comes in), after 1983 the Royal Mint accidentally put out a 'small number' of coins with the old inscription of 'New Pence' on them.

The coins were made to 'brilliant uncirculated' standards for collectors, meaning they were of a higher quality than normal 2p coins in circulation.

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In circulation

However, some now appear to have entered circulation, though the Royal Mint says there are 'relatively few' floating about, so collectors are keeping an eye out.

Coin Hunter Colin Bellamy told  The Sun that he thinks a circulated version of the coin could be worth up to £1250.

He advised: "Use search terms such as '1983 Martini' or '1983 Heinz' and sort by newly listed on eBay. These brands released sets for coin collectors and they may include the error coin.

"By entering these search terms in eBay - or having eBay notify you of new listing containing these words - you can be the first to spot a buy it now listing for a set that contains this error coin.

"These standard 1983 sets sell for £10 so you could find a bargain if you can find one containing the error coin for that price.

"They have been listed in the past at low prices by people who have not heard of the 1983 New Pence 2p."