£2 Coins
The £2 coin that never was…
A £2 coin is a familiar sight to us – the gold coloured outer ring with the silver-coloured inner section is instantly recognisable in our loose change. That bi-metallic style was first issued for general circulation in 1997.
But did you know that the very first version was actually struck in 1994?
Not many people know it exists, but it is highly sought after by collectors.
The reverse design of the trial piece features a three-masted sailing ship – thought to be the Mayflower
The reason this coin has remained largely unknown is that it was only issued as a trial piece, and was never legal tender. Trial pieces are used by the Royal Mint to test the minting process of a new coin, and to help the automatic vending industry re-calibrate their machines in preparation.
Other than the handful given as samples for testing, this trial £2 coin was only ever issued in a presentation pack (pictured) and was billed as “The United Kingdom’s first bi-colour coin”.
The packs contained examples of the outer and inner blanks and a nickel-brass ring to demonstrate the stages of production involved with this innovative new style.
The £2 trial pieces were only made available to the general public in presentation packs
The trialled reverse design features a three-masted sailing ship. Although the ship is not named, it is likely to be the Mayflower, which set sail from Plymouth to America to establish the first permanent New-England colony. The outer ring bears the inscription Royal Mint Trial with the date, 1994.
So, how rare are these 1994 trial £2 coins?
There were just over 4,500 packs issued which makes it an incredibly rare example of a bi-metallic £2 coin.
“…more than 100 times rarer than the
rarest £2 coin in circulation.”
To put that into perspective, the £2 coin with the lowest mintage currently in circulation is the 2002 Commonwealth Games Northern Ireland design. It has a mintage of 485,500. This means the 1994 trial piece is more than 100 times rarer than the rarest £2 coin in circulation.
They are not easy to get hold of, though. If you have one, you are in a very select group of collectors. These packs often sell for well into three figures on auction websites such as ebay. Not a bad return for a £2 coin!
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Royal Proclamation confirms specification for new £2 coin
Only weeks since it was confirmed that a new £2 coin featuring Britannia will be issued later this year, we have more exciting news that another £2 coin is just around the corner.
Prior to release, any new UK coin specification is always announced by Royal Proclamation in the London Gazette, and their latest update has confirmed the unexpected new arrival.
But this is not going to be any ordinary £2 coin…
In fact this coin is unprecedented.
Although it will be legal tender and have a conventional denomination, it will be 38.6mm in diameter and struck in fine silver. Crucially, it will also be the UK’s first coin to be struck with a weight of 1.5 ounces.
A new 1.5 oz Silver £2 coin has been announced
It will be a £2 coin which is far removed from the bi-metallic versions which we know so well.
But of course, a £2 coin with a crown-sized diameter and purity of .999 fine silver is nothing new to collectors. After all, the Silver Britannia has been issued every year since 1997 with exactly those specifications.
The key difference with this new coin is its unusual weight. A 1.5 oz coin with the diameter of a £5 coin means we can expect this new coin to be approximately 1.5 times thicker than a normal commemorative £5 coin.
A traditional design
Three Lions Passant as depicted on a standard issue UK £1 coin
As worded in the Gazette, the reverse design of this new Silver coin will feature;
“three Lions passant guardant, being that quartering of Our Royal Arms”
In other words, the section of the Royal Arms Shield which appears on standard issue UK £1 coins – pictured here.
So the question is – why is this new commemorative £2 coin being issued?
A brand new coin specification is normally reserved for only the most significant of occasions. The Royal Baby is due in April so could it be in anticipation of the latest addition to the Royal family?
We will find out in due course, but for now we can only speculate and your guess is as good as ours!
The Royal Mint released coins for Prince George’s birth, christening and 1st birthday. The Christening coin is pictured above.
UPDATE:
The Royal Mint has confirmed that they will be issuing a commemorative coin for the new Royal Baby, but it will have a £5 denomination.
So the mystery remains as to why and when this new 1.5 oz silver coin will be released…
Which Queen Elizabeth II portrait is your favourite?
Jody Clark recently added his name to an illustrious list in the history books by becoming only the fifth person to create an effigy of Queen Elizabeth II for British circulating coins. Each artist has given their own portrayal of the Queen which offers us a numismatic timeline showing her changing profile over the years.
But which of the five is your favourite? Place your vote below.
1. Mary Gillick (1953 – 1970)
The very first coins of Queen Elizabeth II’s reign bore Mary Gillick’s portrait of a youthful looking Queen, which she engraved especially for the new coins. Her uncrowned portrait is still used on Maundy Money distributed each year by Her Majesty.
2. Arnold Machin RA (1968 – 1984)
With decimalisation approaching, the Queen’s portrait was refreshed with Arnold Machin’s new sculpture. Commissioned in 1964, it first appeared in 1968 on the new 5p and 10p coins. A version of the design with a tiara was introduced on stamps in 1967 and remains to this day.
3. Raphael Maklouf (1985 – 1997)
With his portrayal of Her Majesty, Raphael Maklouf aimed to “create a symbol, regal and ageless”. Unlike the others, his original formal portrait depicting Queen Elizabeth II wearing the Royal Diadem was ‘couped’ (cut off above the shoulders) to become the third official effigy.
4. Ian Rank-Broadley FRBS (1998 – 2015)
The next portrait was created to fill the full circle of the coin in a deliberate response to the new smaller 5p and 10p coins in circulation. The designer, Ian Rank-Broadley FRBS, aimed to show the Queen with “poise and bearing” with his noticeably more mature portrayal.
5. Jody Clark (2015 – )
The latest portrait by Jody Clark was unveiled on 2nd March 2015 during a ceremony at the National Portrait Gallery. His elegant depiction of Queen Elizabeth II was selected by the Royal Mint Advisory Committee – and he is the first Royal Mint engraver for over 100 years to be commissioned for a royal coinage portrait.
Collect all 8 new portrait coins
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