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
Chief Medallist of the Royal Mint Chief Medallist of the Royal Mint Chief Medallist of the Royal Mint was a senior position at the British Royal Mint responsible for the overseeing of medal production. Historically the position was created in 1828 as a compromise to allow Italian engraver Benedetto Pistrucci to be more involved in the mint's engraving process without becoming the Mint's chief engraver. Being a foreign born Italian, appointment of Pistrucci to the prestigious role of Chief Engraver would have proved too scandalous and therefore despite performing the duties of chief engraver he was awarded the title of Chief Medallist. The role of Chief