100 Pounds - Elizabeth II 4th portrait, 1 oz Fine Gold

The 2003 date places this squarely within the Britannia gold series as relaunched in 1987, when the Royal Mint introduced the .9167 fineness — a deliberate echo of the historic gold sovereign alloy rather than the .9999 standard adopted by competitors like the Maple Leaf and Krugerrand. The choice was commercial as much as traditional: it differentiated the Britannia in a crowded bullion market while maintaining continuity with centuries of British gold coinage practice.

Ian Rank-Broadley's fourth portrait of Elizabeth II, introduced in 1998, appears here in only its fifth year of use on the Britannia series.