1 Pound - Elizabeth II Royal Arms of England

Gibraltar's pound coinage occupies an odd constitutional space — the territory issues its own currency under royal warrant but it circulates alongside sterling at par, a practical arrangement that has produced decades of collector-focused issues with limited genuine monetary use. By 2018, the Royal Mint had no hand in these pieces; production was handled by the Pobjoy Mint and later other private minters contracted directly by the Gibraltar government.

KM#1629 is a bullion-adjacent issue rather than a working coin — .999 silver at one troy ounce was never going to see a Gibraltar cash register.