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The entrance to the Bronze Age Copper Mine complex on the Great Orme. The United Kingdom has a rich history of mining. Mining of non-ferrous minerals, particularly of copper and tin, has been ongoing since the Bronze Age. [3] For example, copper was mined in Wales during approximately 2200–850 BC including the Great Orme. [4]
Sterling (ISO code: GBP) is the currency of the United Kingdom and nine of its associated territories. [3] The pound ( sign: £ ) is the main unit of sterling, [ 4 ] [ c ] and the word pound is also used to refer to the British currency generally, [ 7 ] often qualified in international contexts as the British pound or the pound sterling .
Mining was one of the most prosperous activities in Roman Britain. Britain was rich in resources such as copper, gold, iron, lead, salt, silver, and tin, materials in high demand in the Roman Empire. Sufficient supply of metals was needed to fulfil the demand for coinage and luxury artefacts by the elite. [1]
During this working period, nearly 200,000 tons of ore were removed, yielding 3,500 tons of copper metal. The mines closed in 1877 and the Abandonment Plan of 1878 shows all the workings open at that date. This period saw the mining of West Mine and Wood Mine and the reworking of Engine Vein, Brynlow, Doc Mine and other smaller mines on the Edge.
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The number of bronze two pences from this year was 98,676,000 versus the 115,154,000 copper-plate steel. [4] By May 2006 the pre-1992 (97% copper) coins contained 3p worth of copper each. [5] In May 2006, about 2.55 billion such coins remained in circulation, [5] and the Royal Mint warned that tampering with coinage is illegal in the UK. [6]
The British currency is showing the strain of the government's rescue plan.
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]