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2 Pounds - Elizabeth II Cannon
| Issuer | Government of Gibraltar |
|---|---|
| Year | 1988-1997 |
| Type | Log in to see details |
| Value | 2 Pounds |
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| Composition | Log in to see details |
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| Obverse description | Right-facing effigy of Queen Elizabeth II wearing the George IV State Diadem, with pearl drop earring and pearl necklace visible, after the portrait by Raphael Maklouf. The legend ELIZABETH II arcs along the left field, with GIBRALTAR and the date arranged along the right and lower right periphery. The Pobjoy Mint initials PM appear in small lettering below the Queen's truncation. The portrait is rendered in fine relief with detailed treatment of the crown's floral and foliate ornament. |
|---|---|
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| Reverse script | Latin |
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| Additional information |
Virenium — a proprietary nickel-brass alloy developed by the British firm Olin Metals — was adopted by several smaller British territories in the 1980s as a cost-effective alternative to cupro-nickel for high-denomination circulation coinage. Gibraltar was among the earliest adopters. The alloy's golden tone gave the coins a perceived value above their production cost, which suited the Rock's unusual economic position: a jurisdiction too small to absorb large mintage runs but too prominent to issue purely token-looking currency.
The KM#24 series ran across nearly a decade with minimal design revision — a longevity that reflects fiscal conservatism rather than collector intent.