5 Pounds - Elizabeth II Queen Elizabeth's 70th Birthday, Silver Proof Issue

Alderney's commemorative program through the 1990s was administered under a licensing arrangement with the Royal Mint, which produced the strikes on the island dependency's behalf. The 70th birthday issue for 1996 was part of a broader pattern of Alderney releasing royal commemoratives that the Channel Islands collectively used to generate collector revenue — a fiscally pragmatic move for a jurisdiction of roughly 2,400 residents with limited revenue streams.

KM#15a designates the silver proof variant, distinguished from the base metal circulation strike. Mintage figures for Alderney silver proofs of this period were typically kept low by contract terms with the issuing authority.