20 Pence - Elizabeth II 3rd portrait, 1/10 oz Fine Silver

The 1997 date places this piece at the tail end of Raphael Maklouf's effigy, which had been in use since 1985. The following year, Ian Rank-Broadley's fourth portrait took over for circulation coinage, making 1997 the last year this particular obverse combination appeared on a Britannia fractional issue.

The .958 Britannia silver standard — fine enough to exceed sterling — was deliberately chosen to distinguish the bullion series from everyday coinage, reviving an alloy associated with historical English plate silver.