50 Pence - Elizabeth II Christmas

Gibraltar's annual Christmas 50p series began in 1988 and ran for decades, making it one of the longest-running thematic coin programs issued by any British Overseas Territory. The 1998 issue falls midway through that run, during a period when collector demand for the series was strong enough that the Gibraltar government actively marketed sets to the philatelic and numismatic trade as a primary revenue stream rather than relying on circulation.