50 Pence - Charles III Christmas, colourised

Gibraltar's Royal Mint-produced commemorative programme has leaned heavily into colourised cupro-nickel issues since the mid-2000s, targeting the collector gift market rather than circulation. These pieces are struck to collector standard but carry face value, leaving them in an awkward category — neither bullion nor true commemorative, but broadly popular with the territory's tourism-adjacent retail trade.

Charles III acceded in September 2022, making 2025 issues the third Christmas series to bear his effigy.