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The British decimal two pence coin (often shortened to 2p in writing and speech) is a denomination of sterling coinage equalling 2 ⁄ 100 of a pound. Since the coin's introduction on 15 February 1971, the year British currency was decimalised , its obverse has featured four profiles of Queen Elizabeth II . [ 1 ]
As it was a requirement that a coin's face value should correspond to the value of the base metal, each was made from two pence worth of copper (2 ounces), making the coins significantly larger than earlier pennies which had been struck in silver. Their large size, combined with the thick rim, led to the nickname "cartwheels".
In 1992 the composition of the 1p and 2p coins was changed from bronze to copper-plated steel. Due to their high copper content (97%), the intrinsic value of pre-1992 1p and 2p coins increased with the surge in metal prices of the mid-2000s, until by 2006 the coins would, if melted down, have been worth about 50% more than their face value. [16]
If the mint mark is missing, it means the coin is rare and can fetch a lot of money on the collector’s market. Planchet errors: Planchets are the round, blank pieces of metal used to make coins.
As with just about any asset, a coin's value is determined by its market demand. This means that coins in short supply often see higher demand -- and higher values. With coins, supplies are limited...
World’s Most Valuable Coins. ... The two still remaining today were found in 1857 while a third coin was found by someone in England using a metal detector. The coin was sold at auction for £ ...
The two pence (2p) (Irish: dhá phingin) coin was the third smallest denomination of the Irish pound, being worth 1 ⁄ 50 of a pound. It was first issued on Decimal Day, 15 February 1971. The coin was struck until 2000. It was the third of three new designs introduced all in bronze, the others being the halfpenny and penny. All featured ...
In October 2007, the Guinness Book of World Records certified the coin as the world’s largest gold coin. The coin’s front shows Queen Elizabeth II, while the reverse shows a Canadian maple leaf.