By 1980 it had become apparent that with the general decline in purchasing power, the £1 unit of currency was more appropriate to a coin than a banknote. After consultation with many groups including retailers and special interest groups, the Government announced on 31 July 1981 that a new £1 coin that was to be issued on 21 April 1983. Since its launch the £1 has always represented the United Kingdom and its constituent parts; England, Wales, Scotland and Northern Ireland.
The £1 coin in base metal (as opposed to the gold sovereign, which has a nominal face value of one pound too), nickel-brass was introduced in 1983, as a replacement for the £1 banknote. The reverse design of the first £1 coin showed a depiction of the Royal Coat of Arms, representing the United Kingdom as a whole. It was issued until 2015 in rotation with other designs representing Scotland, Wales, Northern Ireland and England, alternating each year in that order.
According to the Royal Mint, "1987 saw the last in a four-year series of £1 coins, designed by renowned silversmith Leslie Durbin, to represent the four constituent parts of the United Kingdom. In 1987, England joined Scotland, Wales and Northern Ireland with a reverse design that featured the distinctive oak tree, long associated with England." This design from 1987 was issued again only once, in 1992. England was later represented by the Three Lions type of one pound, the 2007 Millennium Bridge One Pound coin, the 2010 London One Pound and the 2013 One Pound with the floral emblem of England.
The coin’s edge inscription is in Latin: DECUS ET TUTAMEN, which may be translated as "an ornament to safeguard".
Coins issued in 1992 circulated for 25 years until they were demonetised in 2017 and replaced with the current bimetallic one pound coin. |
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The obverse of the coin shows the crowned bust of Queen Elizabeth II, facing right (her effigy known as the "Third Portrait"). The Queen is wearing the royal diadem which she wears on her way to and from the State Opening of Parliament, a pearl necklace and earrings.
Incuse in tiny letters on the neck truncation, the designer's initials RDM (for Raphael David Maklouf).
Around, the monarch's legend and the date of issue: ELIZABETH II D · G · REG · F · D · 1992. Translated from Latin: Elizabeth the Second, by the grace of God, Queen, Defender of the Faith 1992.
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