Coins of the pound sterling Coins of the pound sterling The standard circulating coinage of the United Kingdom is denominated in pounds sterling (symbol "£"), and, since the introduction of the two-pound coin in 1994 (to celebrate the 300th anniversary of the Bank of England 1694–1994), ranges in value from one penny to two pounds. Since decimalisation, on 15 February 1971, the pound has been divided into 100 (new) pence. From the 16th century until decimalisation, the pound was divided into 20 shillings, each of 12 (old) pence. British coins are minted by the Royal Mint in Llantrisant, Wales. The Royal Mint also commissions the
Royal Mint to be outsourced to another external agency thereby removing the refining process from the mint's responsibilities. The opportunity to handle in Mint's refinery was taken up by Anthony de Rothschild, a descendant of the Rothschild family and heir to the multinational investment banking company N M Rothschild & Sons. Rothschild secured a lease from the government in January 1852, purchasing equipment and a premise adjacent to the Royal Mint on 19 Royal Mint Street under the name of "Royal Mint Refinery". As Britain's influence as a world power expanded, with colonies being established abroad, a greater need for currency led