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 anticipation of profit" (i.e., to function in a commercial manner without relying on taxpayer support to fund its operations). Like private-sector companies, the Mint has a board of directors consisting of a chair, the president and CEO of the Mint, and eight other directors. Traditionally, the President of the Royal Canadian Mint is known as the Master of the Mint. The president is Jennifer Camelon, who was appointed to the position in 2018. The Board of Directors, through the Chair, is accountable to the Minister of Finance. The Minister serves as the link between the Mint, Cabinet and Parliament.