2003 Silver Britannia Proof

This article covers the Silver Britannia, but the coin is also minted in gold. Besides the 1 ounce silver coin, the silver family includes Half ounce, One quarter ounce, One tenth ounce, One twentieth ounce and a massive Five ounce coin.

Specifications

The size and silver content of this coin has changed since the coin’s release in 1997.

Originally it was 958 (95.8%) silver (which is know as ‘Britannia Silver’, the rest is usually copper).

Since 2013 the silver coins have followed the modern trend of using pure silver and are now produced with a millesimal fineness of .999 (99.9% silver).

One ounce (1997-2012): diameter 40 mm, (32.454 g).
One ounce (2013-) : diameter 38.61 mm, (31.104 g).

Face value: £2 (GBP)

Most years are also available as proof, although not every year.

Design

Know by this name as an image of Britannia is always on the reverse, the coin has been minted in silver since 1997. The image of Britannia is changed every year, although odd years see Britannia standing and even years see her sitting. The image may be different on the proof and Unc versions of the same year.

Britannia, together with a combination of trident, Union Jack shield and lion are all symbols of Great Britain, devised many centuries ago to signify that Britain ruled the waves (as it did indeed in those days with the most powerful navy in the world). Britannia has been used on several other British coins.

The Obverse is always of Queen Elizabeth II.

The Royal Mint is the designated place for the UK to mint coins. It dates back well over 1000 years and is a Government-owned company. 

Formed in the reign of Alfred the Great about the year 886, it moved to the Tower of London in 1279 and remained there for over 500 years. The Master of The Royal Mint has included famous figures such as Sir Isaac Newton. Since 2010 it has operated as Royal Mint Ltd, a company owned by HM Treasury, under an exclusive contract to supply all coinage for the UK although it also produces medals and coins for other countries. It is currently located at Llantrisant, Wales.
Queen Elizabeth II is the current and longest reigning monarch ever. Born on 21 April 1926 to King George VI and Elizabeth Bowes-Lyon, she became Queen in 1952 and her Coronation was on 2 June 1953.

Queen Elizabeth II has issued many coins and was monarch during decimalisation.
The United Kingdom (UK) is the Union of England, Scotland, Wales and Northern Ireland. It is often refered to as Great Britain (GBR). It has a long, rich history.

It's orignal coinage was Pounds, Shillings and Pence but since decimalisation on 15 February 1971, it is £1 = 100p, that is One Pound = 100 pence. The coinage of the UK is also a long history, the Royal Mint being established as long ago as 886AD when coins were hammered. Today there is perhaps 30 billion coins in circulation, and many (numismatic) collectors coins and sets are issued frequently in gold, silver and other metals.