Coin Info
A History of the Pound
We are delighted to feature this post from the Money Matters Team at Sainsbury’s Bank.
The British Pound is the oldest currency in use today. Originally forged from pure silver, it has a fascinating history but is it still as valuable?
From its birth in 760, the Pound has shaped the way we live our lives. Not only has it improved our opportunities to travel, it is the 4th most traded currency and is still established as one of the most valuable currencies in the world.
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Does the UK now have a new Five Guinea coin?
The new UK Longest Reigning Monarch £5 coin – not the wording ‘One Crown’ on the reverse
Does the UK now have a new Five Guinea Coin? That’s the question collectors have been asking since the Royal Mint’s revelation this morning of a brand new and very unusual £5 coin to commemorate the Queen’s historic milestone as Britain’s longest ever reigning monarch.
Both sides of the coin feature new commemorative designs, with a new effigy of Her Majesty on the obverse and the Coronation Crown she wore in 1953 as the principal focus of the reverse.
Double commemorative designs like this are not unusual for the £5 coin – for example, the recent 2012 Diamond Jubilee £5 Coin.
But what has surprised and confused collectors is an apparent double denomination which is unprecedented on a British coin.
Detail of the apparent double denomination – ‘One Crown’
The usual denomination ‘Five Pounds’ appears alongside the Queen’s portrait as it has done since the very first £5 coin in 1990. The unexpected addition is the wording ‘One Crown’ on the reverse.
Return of the Crown
The Crown denomination was first introduced in the 16th century during the reign of Henry VIII, and had a value of Five Shillings. It retained that value right up until decimalisation in 1971 when it was re-tariffed to its new decimal equivalent of 25 pence.
A total of four ’25 pence’ coins were issued between 1972 and 1981 although interestingly the new decimal denomination was never actually used on the coins and they have always been known as ‘Crowns’ owing to their identical size.
In fact historically, the denomination ‘Crown’ has very rarely appeared on the coin itself, and the words ‘One Crown’ never have, which adds even more confusion over its inclusion in the Royal Mint’s latest issue.
The Guinea was last struck in 1813 but its denomination of £1 and 5 pence is still recognised today in livestock markets and at the races.
Whilst the new coin has an official face value of £5, the extra “One Crown” wording suggests a total face value of £5.25 – the equivalent of 5 Guineas. So perhaps the new Longest Reigning Monarch Coin will become known to collectors as Britain’s New 5 Guinea Coin?
At the moment, all we can be sure of is that the unusual nature of this coin means it will be a numismatic curiosity for many years to come.
If you’re interested…
You can reserve one of these new £5 coins today – simply click here to secure your UK Longest Reigning Monarch £5 now.
Which is your favourite Queen Elizabeth II Coin?
On 9th September 2015, Queen Elizabeth II will officially become Britain’s longest ever reigning monarch as she passes the current record of 23,226 days held by her great-great grandmother Queen Victoria. Over the years, there have been a number of coins to commemorate Queen Elizabeth II and the various milestones she has celebrated on the throne.
But which of these designs is your favourite?
Have your say in our poll at the bottom of the page…
(A) 1953 Coronation Crown
A) 1953 Coronation Crown
The 1953 Coronation Crown was the very first commemorative coin of the Queen’s reign. It features an unorthodox obverse portrait of the Queen riding on horseback and her crowned monogram on either side. The Queen’s name and titles are recited in full, and the edge inscription reads ‘Faith and Truth I will Bear Unto You’ which is taken from the Coronation Oath.
(B) Coronation 40th Anniversary
B) 1993 Coronation 40th Anniversary £5
This £5 was issued in 1993 to commemorate the 40th anniversary of the Queen’s coronation. The reverse of the coin features the St Edward’s Crown worn during the ceremony in 1953 at the heart of the design. Circulating the crown are 40 trumpets in recognition of the 40th anniversary year, and the same excerpt taken from the Coronation Oath; Faith and Truth I Will Bear Unto You.
(C) Coronation 50th Anniversary
C) 2003 Coronation 50th Anniversary £5
The £5 coin issued in 2003 to commemorate the 50th anniversary of the coronation is one of the most unconventional designs ever issued. The central motif on the reverse of the coin was designed by Tom Phillips and reads “God Save the Queen”. His choice of contemporary style lettering is unusual for a UK coin, and covers the entire reverse – making it instantly recognisable.
(D) Coronation 60th Anniversary
D) 2013 Coronation 60th Anniversary £5
The most recent Queen Elizabeth II commemorative £5 coin was issued in 2013 to mark the Coronation Diamond Jubilee. The reverse design by Emma Noble is a simple one, with the Imperial State Crown worn by Her Majesty after the coronation ceremony featuring prominently in superb detail. It is accompanied by the words “To Reign and Serve; A Vow Made Good”.