The two pence coin is currently the second lowest circulating denomination of the British (decimal) Pound Sterling, after the half penny was demonetised in 1984. 2 pence are equal to 1/50th of a pound.
This 2p coin design replaced the earlier 2p design by Matthew Dent, which had been in circulation since 2008. The reverse depicts a red squirrel, and is part of the nature-inspired recoinage introduced to mark the reign of King Charles III, reflecting his interest in conservation and nature.
The chief Royal Mint engraver, Gordon Summers, oversaw the designs, alongside an advisory committee at the Royal Mint, with the involvement of the monarch himself. The Royal Mint does not credit a specific person with the reverse design, but cites it as the work of the whole team.
One penny and two pence coins are legal tender only up to the sum of 20p; this means that it is permissible to refuse payment of sums greater than this amount in 1p and 2p coins in order to settle a debt. | 
