Crowned mature head of Queen Elizabeth II facing right (effigy known as the "Fourth Portrait"). The Queen wears the "Girls of Great Britain and Ireland" diamond tiara, a wedding gift from Queen Mary (Her Majesty's grandmother) in 1947 - which she also has on the Machin and the Gottwald portraits.
In tiny letters below the head, the artist's initials IRB (for Ian Rank-Broadley).
Around the effigy is the monarch's legend and the date: ELIZABETH · II · D · G REG · F · D · 2003. Translated from Latin: Elizabeth the Second, by the grace of God, Queen, Defender of the Faith 2003.
Royal Arms representing the United Kingdom. In its standard variant used outside of Scotland, the shield is quartered, depicting in the first and fourth quarters the three passant guardant lions of England; in the second, the rampant lion and double tressure flory-counterflory of Scotland; and in the third, a harp for Ireland. The crest is a statant guardant lion wearing the St Edward's Crown, himself on another representation of that crown. The dexter supporter is a likewise crowned English lion; the sinister, a Scottish unicorn. In the ground below, a thistle, Tudor rose and shamrock are depicted, representing Scotland, England and Ireland respectively. The motto of English monarchs, "Dieu et mon Droit" (God and my Right), which has descended to the present royal family is in a ribbon below, while a Garter circlet which surrounds the shield is inscribed with the Order of the Garter's motto, "Honi soit qui mal y pense" (Shame on he who thinks evil).
Around below is the denomination, ONE POUND.