Inflation resulted in the replacement of the one pound note in 1983. At first the introduction of a coin for this denomination for the first time since the First World War was not very popular. However the coin has now been accepted.
After the fiasco of the attempt by the US Government to introduce a dollar coin in 1979, an number of lessons were learnt.
A two pound coin in the same nickel brass alloy (thought to be 79% copper, 20% zinc and 1% nickel) was first introduced in 1986 as a commemorative coin, although it was legal tender and was accepted by shops. However, quantities were never in sufficient numbers for general circulation to take place.
In 1997 a new design, a bimetallic coin of the same diameter but thinner, was to be introduced for general circulation, but the issue was postponed to June 1998 because of technical problems regarding the acceptance of the coins by vending machines. Coins dated both 1997 and 1998 were then placed into circulation.
The One Pound coin was introduced in 1983 as inflation had reduced the purchasing of the note to a very low level.
One of the most interesting characteristics of this coin is the change in design each year, covering each of the countries that comprise the United Kingdom, and the use of an edge inscription for security.
The one pound coin weighs 9.50 grams and has a diameter of 22.50 mm. (the sovereign weighs 8.0 grams and is 22 mm diameter). Most if not all issues are available as sterling silver proofs.
There are three obverse types that have been used:
Used from 1983 to 1984.
Used from 1985 to 1997.
Used from 1998.
There are three edge inscriptions that have been used:
Used on British, English and Northern Ireland designs.
Used on Scottish designs.
Used on Welsh designs.
There have thus been 15 distinct types of pound coin in the 18 years that it has been issued:
Rev: Ornamental Royal Arms, ONE POUND below.
Edge: DECUS ET TUTAMEN
Issued in 1983 (UK design)
Rev: Thistle Sprig in Coronet, ONE POUND below.
Edge: NEMO ME IMPUNE LACESSIT
Issued in 1984 (Scottish design)
Rev: Leek in Coronet, ONE POUND below.
Edge: PLEIDOIL WYF I'M GWLAD
Issued in 1985 and 1990 (Welsh design). The 1985 coin has an edge inscription 2.0 mm high, while that for the 1990 coin is distinctly different and only 1.7 mm high.
Rev: Flax in Coronet, ONE POUND below.
Edge: DECUS ET TUTAMEN
Issued in 1986 and 1991 (Northern Ireland design)
Rev: Oak Tree in Coronet, ONE POUND below.
Edge: DECUS ET TUTAMEN
Issued in 1987 and 1992 (English design)
Rev: Crown over shield, ONE POUND below.
Edge: DECUS ET TUTAMEN
Issued in 1988 (UK design)
Rev: Thistle Sprig in Coronet, ONE POUND below. (As Reverse of 2 above)
Edge: NEMO ME IMPUNE LACESSIT
Issued in 1989 (Scottish design)
Rev: Ornamental Royal Arms, ONE POUND below.
Edge: DECUS ET TUTAMEN
Issued in 1993 (UK design)
Rev: Lion Rampant in border, ONE POUND below.
Edge: NEMO ME IMPUNE LACESSIT
Issued in 1994 (Scottish design)
Edge: PLEIDOIL WYF I'M GWLAD
Rev: Welsh Dragon, ONE POUND below.
Issued in 1995 (Welsh design)
Rev: Celtic cross and pimpernel, ONE POUND below.
Edge: DECUS ET TUTAMEN
Issued in 1996 (Northern Ireland design)
Rev: Three lions passant guardant, ONE POUND below.
Edge: DECUS ET TUTAMEN
Issued in 1997 (English design)
Rev: Ornamental Royal Arms, ONE POUND below, as for 1983 and 1993.
Edge: DECUS ET TUTAMEN
Issued in 1998 (UK design). Not seen in circulation.
Rev:Lion Rampant in border, ONE POUND below, as for 1994.
Edge: NEMO ME IMPUNE LACESSIT
Issued in 1999 (Scottish design). Not seen in circulation.
Edge: PLEIDOIL WYF I'M GWLAD
Rev: Welsh Dragon, ONE POUND below.
Issued in 2000 (Welsh design). Not yet seen in circulation.
All dates except 1998 and 1999 have entered circulation, although some are rarely seen, particularly 1986 and 1988. The shortage of the latter is more noticeable because of its distinctive design, while some of the other designs seem somewhat similar.
Pound coins with apparent errors such as the wrong reverse for the year are almost certainly forgeries. It has been estimated that 1% of all pound coins in circulation are forged.
In 1986 a nickel-brass two pound coin was issued to commemorate the 13th Commonwealth Games held in Scotland that year.
During the succeeding years a total of six further commemorative two pound coins were issued.
The coin weighs 15.98 grams and has a diameter of 28.40 mm. This is exactly the same specification as the gold two pound coin, and indeed in some years the same design has been struck as the year's gold issue.
The first six issues have the same obverse:
Second Portrait, inscription ELIZABETH II DEI GRATIA REGINA F D starting low left, TWO POUNDS below.
Edge: XIII COMMONWEALTH GAMES SCOTLAND 1986
Edge: Milled, no inscription
Edge: Milled, no inscription
These two coins were issued at the same time, but the Scottish version is very much scarcer than the English.
Edge: SIC VOC NON VOBIS
Tercentenary of Bank of England
Edge: 1945 IN PEACE GOODWILL 1995
A most unusual coin bearing its date only on the edge. It commemorated the 50th Anniversary of the end of the Second World War.
Edge: Milled
Reverse: Representation of Football, 1996 in centre, 16 small rings. Also exists as a silver proof.
In 1997 a new design was produced for circulation. It was the first bi-metallic coin issued in the UK since the tin farthings with a copper plug in 1692.
The coin is 12.00 grams in weight, and 28.40 mm diameter, thus maintaining the same diameter as, but weighing less than, the former type. It has a cupro-nickel inner disc and a nickel-brass outer ring.
Proof versions in silver and gold are known. The former has gold layering for the outer ring.
There are three types:
Obverse: Second Portrait in cupronickel centre, with inscription ELIZABETH II DEI GRATIA REGINA F D starting low left in the nickel-brass ring.
Reverse: Symbolic representation of technological development from the Iron Age, through the Industrial Revolution and the Electronic Age to the Internet. TWO POUNDS above, 1997 below.
Edge: STANDING ON THE SHOULDER OF GIANTS
Issued in 1997 in sets, and now freely available in circulation. This is the coin regarding which a rumour is circulating, namely that £2 coins where the queen is wearing a necklace are rare. This is definitely not true, although the rumour is causing them to disappear from circulation. A total of 13.73 million have been issued.
Obverse: Third Portrait in cupronickel centre, with inscription ELIZABETH II DEI GRA REG FID DEF starting low left in the nickel-brass ring.
Reverse: Symbolic representation of technological development from the Iron Age to the
modern computer age. TWO POUNDS above, Edge: STANDING ON THE SHOULDER OF GIANTS
First issued for circulation in June 1998. Proof and uncirculated
copies were previously available in Mint sets. 1999 versions are in circulation,
but are not available in the proof or uncirculated sets.
Obverse: Third Portrait in cupronickel centre, with inscription
ELIZABETH II DEI GRA REG FID DEF starting low left in the nickel-brass ring.
Reverse: Symbolic representation of a stadium with rugby ball and goalposts. 1999 above, TWO POUNDS below. Designed by Ron Dutton.
Edge: RUGBY WORLD CUP 1999
Issued in 1999. Proof and uncirculated copies are available in Mint sets. Now in circulation.
The motto STANDING ON THE SHOULDER OF GIANTS is a quotation of Sir Isaac Newton, who, in a letter, was acknowledging the debt he owed to the work of others who had gone before, saying 'If I have seen further, it is by standing on the shoulder of giants'.
See my Coins Index page for acknowledgements
Previous denominations - Twenty and Fifty Pence
Next denominations - The Crowns
