At the time of decimalisation in 1971, the United Kingdom Crown coin (equal to 5 shillings) was redenominated as a 25p coin and pieces struck prior to 1990 - all the way back to 1818 - continue to be legal tender for that amount. The old denomination had been a regular circulating coin in the 19th century, but in the 20th century it became more of a commemorative denomination.
The Royal Mint continued issuing commemorative coins in the same format - using the traditional coin dimensions, but in copper-nickel. These were initially also denominated as 25 pence but the "Crown" was changed in 1990 to a commemorative £5 (five pound) coin, having the same dimensions and weight but with a face value twenty times as great.
The denomination is used to mark special occasions, usually royal in theme, rather than for use in general circulation. Although not circulating, these coins are legal tender.
This commemorative £5 Crown-sized coin celebrates the Longest Reigning Monarch in the history of United Kingdom. On 9 September 2015 Queen Elizabeth II had ruled for more than 63 years and 216 days, which was the longest reign before her - that of Queen Victoria.
Excluding the £20, all the coins in the Longest Reigning Monarch coin range feature a new commemorative portrait by James Butler. This makes the UK £5 coin a modern rarity, as it is unusual in modern times for one artist to design both the obverse and reverse of a coin. In the portrait, The Queen is wearing the George IV State Diadem that features in the definitive portraits by Jody Clark and Raphael Maklouf. |