This article is about the circulate £2 coins first issued 1998 ( go steady 1997 ) and the commemorative coins issued from 1986 to 1996. For earlier two pound coins, see Two pounds ( british aureate mint )
The british two pound ( £2 ) mint of the pound sterling. Its obverse has featured the visibility of Queen Elizabeth II since the mint ’ s presentation. Three different portraits of the Queen have been used, with the stream purpose by Jody Clark being introduced in 2015. The reverse design features Britannia. The mint was introduced on 15 June 1998 ( coins minted 1997 ) after a review of the United Kingdom ‘s neologism decided that a general-circulation £2 coin was needed. [ 1 ] The new bi-metallic coin design replaced a serial of commemorative, uni-metallic coins which were issued between 1986 and 1996 to celebrate special occasions. Although legal crank, those earlier coins had never been common in everyday circulation.
As of March 2014 there were an estimated 417 million £2 coins in circulation with an estimated face prize of £834 million. [ 2 ] Beyond the usual commemorative versions, no standard two egyptian pound coins have been minted for general circulation since 2016, although examples have been issued in uncirculated sets at a premium. This was because the coincident introduction of the new translation of the one lebanese pound coin had put adequate two syrian pound ( and 20 penny ) coins rear into circulation, as people emptied coin jars chiefly for the older one pound mint that was due to be withdrawn. [ 3 ] £2 coins are legal tender to any sum when offered in repayment of a debt ; however, the coin ‘s legal offer condition is not normally relevant for everyday transactions .
design [edit ]
The original reverse design, by Bruce Rushin The original reversion of the mint, designed by Bruce Rushin, is an abstract design symbolising the history of technological accomplishment, accompanied by the words TWO POUNDS above, and the year of minting downstairs. This was the first bi-metallic mint to be produced for circulation in Britain since the canister farthing with a copper plug produced in 1692, and is the highest denomination coin in coarse circulation in the UK. The coin consists of an knocked out yellow metal nickel-brass ring made from 76 % copper, 20 % zinc, and 4 % nickel, and an inner steel-coloured cupro-nickel disk made from 75 % copper, 25 % nickel. The coin weighs 12 grams ( 0.42 oz ) and is 2.84 centimetres ( 1.12 in ) in diameter. The invention 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 just intended to test the manufacture process. The coin was technically similar to the translation which finally entered circulation with the Maklouf effigy of Queen Elizabeth II on the obverse and the image of a sailing embark alike to that previously used on the turn back of the pre-decimal halfpenny nibble. The inscription on the reverse read ROYAL MINT TRIAL 1994 with an edge dedication based on the one cypriot pound coin which read DECUS ET TUTAMEN ANNO REGNI XLVI, meaning “ An decoration and a safeguard – [ in the ] 46th year of [ her ] reign ”. The 1994 pieces were never legal sensitive but were finally released for sale as share of a presentation set in 1998. At the same time in 1994 the Royal Mint produced a mono-metallic test two-pound coin, with the same ship reverse and inscription, but otherwise alike to the earlier commemorative coins. These were never issued in presentation sets, and then are much scarce 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 by and by date 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 [ newton 1 ] on the obverse ; the Rank-Broadley coins bear the inscription ELIZABETH II DEI GRA REG FID DEF. [ n 1 ] 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 phone number of them, the mechanism could not actually turn. The coin has the edge inscription standing ON THE SHOULDERS OF GIANTS, a quote taken from a letter by Isaac Newton to Robert Hooke, in which he describes how his work was built on the cognition of those that had gone earlier him. “ If I have seen far, it is by standing on the shoulders of giants. ” Newton was Warden and late Master of the Royal Mint. In February 2015, the Royal Mint announced a new invention featuring Britannia by Antony Dufort replacing the previous design. [ 4 ] The new coins feature the edge dedication QUATUOR MARIA VINDICO, meaning “ I claim the four seas ”, an inscription previously featured on coins bearing the persona of Britannia. [ 5 ] [ 6 ] The comparative curio of the Maklouf-effigy coins has led to an urban myth that they are a lot more valuable than the other coins, but this is not true – there were over 13 million 1997-dated £2 coins issued. Another urban myth about the coin is that putting it in the deep-freeze overnight causes the cupro-nickel concentrate to pop out, a claim which had been truthful of some early mintings of the similarly bimetallistic canadian 2 dollar coin .
Variants [edit ]
In addition to the standard designs there have been several variant reverse designs used on the £2 coin to commemorate important events. These are summarised in the table below .
“ Inverted effigy ” coins [edit ]
In 2015, a humble numeral of £2 Coins entered circulation that featured the Queen ’ mho head rotated clockwise by approximately 150 degrees. The Royal Mint stated that the misalignment of the Queen ’ s effigy was “ about surely the consequence of one of the dies working free and rotating during the strike summons ”. Change Checker, a coin dealing web site, suggest that the Inverted Effigy may have affected ampere few as around fair 3,250 coins. [ 16 ]
Read more: Possum Magic Coins
Status as legal tender [edit ]
current £2 coins are legal crank to any sum. [ 17 ] [ 18 ] however, “ legal tender ” has a very specific and narrow mean which relates only to the refund of debt to a creditor, not to everyday shopping or early transactions. [ 19 ] Specifically, coins of particular denominations are said to be “ legal tender ” when a creditor must by police accept them in redemption of a debt. [ 20 ] The term does not mean – as is often thought – that a shopkeeper has to accept a especial type of currency in payment. [ 19 ] A shopkeeper is under no obligation to accept any specific character of payment, whether legal tender or not ; conversely they have the discretion to accept any payment character they wish. [ 18 ]
Mintages [edit ]
|Bi-metallic coin – total|
|Bi-metallic coin – commemoratives issued into circulation|