5 Pounds - Elizabeth II Eurofighter over map, Silver Proof

Gibraltar has issued commemorative coinage aggressively since the 1990s, targeting the collector market rather than circulation, and this piece fits squarely in that program. The Eurofighter — developed jointly by the UK, Germany, Spain, and Italy under the Eurofighter GmbH consortium — was still years from operational service in 1998, with RAF deliveries not beginning until 2003. Commemorating an aircraft not yet in squadron use was an unusual choice, even for a territory with strong British military ties.

The RAF maintains a presence at RAF Gibraltar, which operates one of the shortest commercial and military runways in the world at roughly 1,800 metres.