20 Pence - Elizabeth II 4th portrait, 1/10 oz Fine Silver

This piece belongs to the Royal Mint's Brilliant Silver Coinage series, a limited bullion program introduced in the early 2010s that applied fractional silver weights to standard circulation denominations — a format the Mint used partly to attract lower entry-point bullion buyers during silver's sustained price surge following the 2008 financial crisis. The fourth portrait of Elizabeth II, by Ian Rank-Broadley, had been in use on circulating coinage since 1998.

Mintage figures for this series were never large. Collector demand has consistently outpaced initial interest from the bullion market it nominally targeted.