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
Birmingham Mint 5% of the business. A major product was copper tubing and fittings for the building industry, supplied under the MBL trade mark. Medals, slot machine tokens and gambling tokens were produced. In 1965 a consortium of the Mint, the Royal Mint and IMI achieved a growth in the export market. The Mint expanded to an adjacent site in 1967 but a reduction in orders from the Royal Mint immediately followed, apart from a large order for 1680 tons of bronze half-pence blanks and 466 tons of cupro-nickel 10-pence blanks, which were supplied to the Royal Mint in 1968–71 for the