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 (Spain) own cypher and signs. When the peseta became the national currency in 1869, only the Royal Mint in Madrid was in operation. In 1893 the Mint ("Casa de la Moneda") and the Stamp Factory ("Fábrica del Sello"), which so far had been two different establishments sharing a building in Plaza de Colón, merged to create the "Fábrica Nacional de Moneda y Timbre". Banknote production for the Bank of Spain began in 1940. A new building came into use in 1964, in which the passport and national identification card were produced. Later, bingo cards and tickets for the state-run lottery were