1 Penny - Elizabeth II 2nd portrait, magnetic

The magnetic copper-plated steel composition was adopted across many Commonwealth territories during the 1990s as copper prices made the older solid bronze flans increasingly uneconomical. For the Falklands, a territory whose monetary infrastructure depends entirely on shipments from the UK, the lighter logistical footprint of steel blanks carried a practical appeal beyond mere metallurgy. These coins were struck at the Royal Mint.

KM#2a distinguishes the steel-core issues from the earlier bronze KM#2 pieces — visually identical, separated only by a magnet.