The year 1983 is significant for the United Kingdom as it heralds the introduction of the new modern one pound coin which entered circulation on 21st April 1983.
This proof one pound coin is struck in 0.925 silver fineness and comes in a presentation box with a certificate of authentication. The pound coin is British legal tender and is exempt from Capital Gains Tax.
The issue limit was 50,000.
On the milled edge of the coin is the Llantrisant mint mark - a cross crosslet. This is the first United Kingdom coin to be struck with this distinctive feature. The shape of the cross alluding to Llantrisant, which translated from the Welsh means "Church or Parish of the Three Saints".
The edge is not only milled but also inscribed. The inscription in Latin reads:- DECUS ET TUTAMEN. Which may be translated as "an ornament and a safeguard". This inscription dates back to the first machine-struck coins minted in 1662 and was a device to prevent "clipping".
The design process for the pound coin began with a competition for the reverse design of the new coin. The entries were judged by the Royal Mint Advisory Committee, whose President is the Duke of Edinburgh, and the selected design by Eric Sewell, formerly Chief Engraver of the Royal Mint, was then submitted for the approval of Her Majesty The Queen.
This British legal tender coin is struck in a variety of finishes including uncirculated, Brilliant Uncirculated, Silver Proof, Silver Proof Piedfort and Gold Proof.
On 28 March 2017, the circulated round pound was replaced by the 12 sided £1 coin. On the 15 October the round £1 coin will cease to be legal tender. Read more about the pound coin in our blogs:
The obverse of the coin shows the Arnold Machin portrait of Queen Elizabeth II which was adopted for decimalisation and has been used on nearly all UK coinage since 1968. It continued in use until 1984.
The reverse of the coin shows the Royal Arms, and it is appropriate that it should feature on one of the nation's premier coins.
Queen Elizabeth II is a direct descendant of the Sovereigns of England, of Ireland and of Scotland. Accordingly Her Majesty is head of the oldest continuing Royal Lines in Christendom. As the embodiment of the Sovereignty of those countries, Her Majesty quarters their historic Arms.
The Royal Arms achieved their present form upon the accession of Queen Victoria in 1837 and have remained essentially the same ever since.
|Version||Diameter (mm)||Weight (grams)||Metal||Alloy||Actual Metal Weight (troy ounces)||Issue Limit|
|Uncirculated in Folder||22.50||9.50||Nickel-brass||484,900|
|Silver Proof||22.50||9.50||Silver||0.925 Silver||0.2825||50,000|
|Piedfort Silver Proof||22.50||19||Silver||0.925 Silver||0.5650||15,000|
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Bullion coins are provided as is and on occasion may have some minor scratches or edge knocks. These are not regarded as faulty or damaged goods as their precious metal content and value as a bullion coin is not affected. Any coin sold for a value less than a 180% intrinsic is considered a bullion coin.
Gold investment products are VAT free. Silver investment products are inclusive of VAT at the current rate unless otherwise stated.
All investment products are based on the live precious metal price. Prices will be fixed once the item has been added to the basket and recalculates just before checking out.
If your product is not a graded coin and is considered a bullion item, it should be noted that these are bought and sold on low premiums over their precious metal content and not solely for aesthetic purposes; therefore, some products may have edge knocks and/or marks. These edge knocks and marks do not alter the specifications of the coins.
Please note that all investment products are exempt from the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 and therefore customers do not have the right to cancel their order once the order has been accepted. If customers no longer wish to go ahead with their investment purchase, there is an option to sell the products back to Chard (1964) Ltd instead. View our current buy back prices.
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