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 Canadian Mint in Elliot Lake, Ontario. A 1968 study showed the Ottawa Mint facility was antiquated. When the Royal Canadian Mint became a Crown corporation in 1969, many believed a decision would be reached.[7] But although funds had been allocated for a new facility, no real planning had begun. Emphasis was made on finding space in Ottawa. It was decided the Royal Canadian Mint would keep the historic building and have a new facility for manufacturing circulation coins. The federal government of the time, led by Pierre Trudeau, decided to decentralize many public services. The result was a claim for restitution from