£2. Two pounds. Two pound coin

 

The British two pound (£2) coin was first issued as a commemorative coin in 1986 to celebrate the Commonwealth Games in Scotland. Six further commemorative issues followed between 1989 and 1996. These coins did not circulate in large numbers.

After a review of the United Kingdom coinage, it was decided that a general-circulation £2 coin was needed,^[1] and a new bi-metallic design was issued on 15 June 1998 (dated 1997).

Bi-metallic coin (1997 to present)

This was the first bi-metallic coin to be produced for circulation in Britain since the tin farthing with a copper plug produced in 1692, and is the highest denomination coin in common circulation in the UK. The coin consists of an outer yellow metal nickel-brass ring made from 76% copper, 20% zinc, and 4% nickel, and an inner steel-coloured cupro-nickel disc made from 75% copper, 25% nickel. The coin weighs 12 grams and is 28.4 millimetres in diameter.

The design itself was first tried out in 1994 when the Royal Mint produced a short run of demonstration pieces to the new bi-metal standard. These pieces were not for circulation and were simply intended to test the manufacturing process.

The coin was technically similar to the version which eventually entered circulation with the Maklouf effigy of Queen Elizabeth II on the obverse and the image of a sailing ship similar to that previously used on the reverse of the pre-decimal halfpenny piece. The inscription on the reverse read ROYAL MINT TRIAL 1994 with an edge inscription based on the one pound coin which read DECUS ET TUTAMEN ANNO REGNI XLVI, meaning "An ornament and a safeguard – in the 46th year of her reign".

The 1994 pieces were never legal tender but were eventually released for sale as part of a presentation set in 1998. At the same time in 1994 the Royal Mint produced a mono-metallic trial two-pound coin, with the same ship reverse and inscription, but otherwise similar to the earlier commemorative coins. These were never issued in presentation sets, and so are much scarcer than the bi-metallic version.

Because of technical difficulties, the 1997-dated coins, which bear the effigy of Queen Elizabeth II by Raphael Maklouf, were not released to circulation until June 1998 (the same time as the 1998-dated coins). 1998 and later dated coins bear the effigy of the Queen by Ian Rank-Broadley. The Maklouf-effigy coins bear the inscription ELIZABETH II DEI GRATIA REGINA F D on the obverse; the Rank-Broadley coins bear the inscription ELIZABETH II DEI GRA REG FID DEF.

The reverse of the regular-issue coin, designed by Bruce Rushin, bears a concentric design symbolically representing technological development from the Iron Age, through the Industrial Revolution and the Electronic Age to the Internet, with the inscription TWO POUNDS above the design and the date below. An oddity of the design is that it depicts nineteen interlocking gears. Because there is an odd number of them, the mechanism could not actually turn (except as a Möbius strip).

The coin has the edge inscription STANDING ON THE SHOULDERS OF GIANTS taken from a letter by Sir Isaac Newton to Robert Hooke, in which he describes how his work was built on the knowledge of those that had gone before him. "If I have seen further, it is by standing on the shoulders of giants." (Newton was Warden and later Master of the Royal Mint.)

The comparative rarity of the Maklouf-effigy coins ("the ones with the necklace") has led to an urban myth that they are much more valuable than the other coins, but this is not true – there are over 13 million 1997-dated £2 coins in circulation. Another urban myth about the coin is that putting it in the freezer overnight causes the cupro-nickel centre to pop out, a claim which had been true of some early mintings of the similarly bimetallic Canadian 2 dollar coin.

As of January 2009 there were an estimated 331.5 million £2 coins in circulation.^[2]

(Wiki)

10p. Ten pence. 2 bob.

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The British decimal ten pence (10p) coin – often pronounced "ten pee" – was issued on 23 April 1968 in preparation for the 1971 decimalisation of the currency. At that time it had the same value, size, and weight as the existing florin (two-shilling coin), and it may be viewed as a continuation of the older coin.

Between 1968 and 1971 it circulated, with a value of two shillings, alongside the pre-decimal two-shilling coins – the aim being to gradually familiarise the public with the new decimal coinage. After decimalisation the old two-shilling coins continued to circulate, with a value of 10p, until finally withdrawn in 1993.

Until 2012, the 10p coin was minted from a cupronickel alloy of 75% copper and 25% nickel. The 1968 version of the coin weighed 11.31 grams and had a diameter of 28.50 millimetres. On 30 September 1992 a smaller version weighing 6.50 grams and with a diameter of 24.50 millimetres was introduced.

Apart from the reduction in size, the coin's design remained essentially unchanged. This downsizing took place a year after a similar reform of the five pence coin, and the new ten pence was in fact only a gram heavier and half a millimetre larger than the previously withdrawn five pence. The current version has a similar size to the quarter in both the U.S. and Canada; the 10p and quarter have similar monetary value.

All the older 10p and florin coins were withdrawn from circulation and demonetised from 1 July 1993. With the earlier withdrawal of the 5p and shilling coins, the 10p was the last of the "historical" coin sizes to be withdrawn. From January 2012 the 10p coin has been minted in nickel-plated steel in order to save costs.

Three different obverses have been used—from 1968 to 1984 the head of Queen Elizabeth II by Arnold Machin, from 1985 to 1997 the head by Raphael Maklouf, and since 1998 the head by Ian Rank-Broadley. In all cases, the inscription is ELIZABETH II D.G.REG.F.D. followed by the date.

Several varieties of the first small coin dated 1992 exist. There are two varieties each of the obverse and reverse, and two of the edge, making four distinct types of which two are scarce.[1]

As of December 2005 there were an estimated 1,587 million 10p coins in circulation.

(Wiki).

2p. Two pence. Tuppence.

                                              

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The British decimal two pence (2p) coin – often pronounced "two pee" – was issued by the Royal Mint on 15 February 1971, the day the British currency was decimalised. In practice it had been available from banks in bags of £1 for some weeks previously. As of December 2005 there were an estimated 6,421 million 2p coins in circulation.

The coin was initially minted from bronze, but since 1992 it has been minted in copper-plated steel except for a few months in 1998 when bronze was used again. As copper-plated steel is less dense than bronze, post-1992 coins have been slightly thicker. The coin weighs 7.12 grams and has a diameter of 25.9 millimetres. The 2p coin is currently 93% mild-steel and 7% copper.

The original reverse of the coin, designed by Christopher Ironside, is the Badge of the Prince of Wales: a plume of ostrich feathers within a coronet, above the German motto ICH DIEN ("I serve"). The numeral "2" is written below the badge, and either NEW PENCE (1971–1981) or TWO PENCE (from 1982) is written above. However, a small number of 1983 "New Pence" coins exist. These coins are rather rare, and are considered collectors' items. It was originally planned that an alternative version of the 2p would be minted with a design representing Northern Ireland. These plans never came to fruition, however.

Three different obverses have been used so far – from 1971 to 1984 the head of Queen Elizabeth II by Arnold Machin, from 1985 to 1997 the head by Raphael Maklouf, and since 1998 the head by Ian Rank-Broadley. In all cases, the inscription is ELIZABETH II D.G.REG.F.D. followed by the date.

Because of soaring metal prices in early 2006, by May of that year the pre-1992 (97% copper) coins contained 3p worth of copper each. As of May 2006, about 2,551 million such coins remained in circulation. However, The Royal Mint warned that tampering with coinage is illegal in the UK. During 2008, the value of copper fell dramatically from these peaks.

(Wiki).

5p. Five pence. A bob.

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The British decimal five pence (5p) coin – often pronounced "five pee" – is a subdivision of pound sterling first issued on 23 April 1968 in preparation for the 1971 decimalisation of the currency. At that time it had the same value, size and weight as the existing shilling, and it may be viewed as a continuation of the older coin.

Between 1968 and 1971 it circulated, with a value of one shilling, alongside the pre-decimal shilling coins – the aim being to gradually familiarise the public with the new decimal coinage. After decimalisation the old shilling coin continued in circulation, with a value of 5p, until finally withdrawn in 1990.

Until 2012, the 5p coin was minted from an alloy of 75% copper and 25% nickel. The 1968 version of the coin weighed 5.65 grams (0.18 troy oz) and had a diameter of 23.59 millimetres (0.929 in). On 27 June 1990 a smaller version weighing 3.25 grams (0.104 troy oz) and with a diameter of 18.00 millimetres (0.709 in) was introduced.

This coin is roughly the same size as the Canadian dime and its American counterpart; because the obverses of the 5p and the Canadian dime are nearly identical, and the monetary values are roughly equal, they sometimes can be found in circulation with dimes in Canada and parts of the Northern United States.

Apart from the reduction in size, the coin's design remained essentially unchanged. All the older 5p and shilling coins were withdrawn from circulation and demonetised from 1 January 1991. The old 5p coin had the same size as the 1 Deutsche Mark coin but was worth less than a fifth of a Deutsche Mark.

Vending machines could not distinguish between the two, so the 5p coin was sometimes fraudulently used for the 1 DM coin. From January 2012 the 5p coin has been minted in nickel-plated steel in order to save costs.

Three different obverses have been used so far: from 1968 to 1984 the head of Queen Elizabeth II by Arnold Machin; from 1985 to 1997 the head by Raphael Maklouf; and since 1998 the head by Ian Rank-Broadley. In all cases, the inscription is ELIZABETH II D.G.REG. F.D. followed by the date.

As of 31 March 2010, there were an estimated total 3,774 million 5p coins in circulation.

(Wiki)

20p. Twenty pence.

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The British decimal twenty pence (20p) coin – often pronounced "twenty pee" – was issued on 9 June 1982 to fill the gap between the ten pence and fifty pence coins. It rapidly gained acceptance: as of March 2008 there were an estimated 2.3 billion 20p coins in circulation.[1]

The coin is minted from a cupronickel alloy of 84% copper and 16% nickel (unlike the other 'silver' coins which are 75% copper, 25% nickel), weighs 5.00 grams and has a diameter of 21.4 millimetres (0.84 in). Measuring at the highest points (the edge) it is 1.7 mm thick.

Like the fifty pence piece, the coin is not circular, but is seven-sided to aid identification. The sides are not straight but are curved so that the centre of curvature is the opposite apex of the coin – this is an equilateral curve (a curve of constant width) which allows the coin's diameter to be consistently measured in vending machines and slot machines.

Three different obverses have been used so far: between 1982 and 1984 the head of Queen Elizabeth II by Arnold Machin; between 1985 and 1997 the head by Raphael Maklouf; and since 1998 the head by Ian Rank-Broadley. In all cases, the inscription is ELIZABETH II D.G.REG.F.D.

As with all British coinage, the technical specifications are the same as those of coins issued by sterling zone territories such as the Isle of Man, Guernsey, Jersey and Gibraltar. As a result, coins from these territories can sometimes be found in UK circulation.

The coin also has similar size, metallic composition and weight as the U.S. nickel, which has a face value of approximately an eighth of the 20p. (Other British coins, such as the 5p and the 10p, also are fairly close to U.S. and Canadian coins—the dime and quarter respectively—but are close enough in monetary value that the discrepancy is not as much of an issue.)

(Wiki).

1p. One pence. A penny.

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The British decimal one penny (1p) coin, produced by the Royal Mint, was issued on 15 February 1971, the day the British currency was decimalised.  In practice, it had been available from banks in bags of £1 for some weeks previously.

The coin, known at first as a "new penny", was initially minted from bronze, but since 1992 it has been minted in copper-plated steel. As this is less dense than bronze, post-1992 coins have been slightly thicker, as well as becoming magnetic. The coin weighs 3.56 grams (approximately one eighth of an ounce) and has a diameter of 20.32 millimetres.

The penny is one hundredth fraction of a pound: one hundred pence sterling is one pound sterling.

One penny and two pence coins are legal tender only up to the sum of 20p; this means that it is permissible to refuse payment of sums greater than this amount in 1p and 2p coins in order to settle a debt.

As of 30 March 2010 there were an estimated 11,215 million 1p coins in circulation.

Soaring copper prices in the mid-2000s caused the value of the copper in the pre-1992 coins (which are 97% copper) to exceed the coins' face value. For example, in May 2006, the intrinsic metal value of a pre-1992 1p coin was about 1.5 pence.[6] During 2008, the value of copper fell dramatically from these peaks. 

(Wiki).

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