How Much is a 1986 £2 Coin Worth?

Author: Lawrence Chard - Director and Expert Numismatist

Published: 20 Oct 2016

Last Updated: 21 Aug 2019

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 I wish we were given £2 every time we were asked this question! The short answer is that this coin is worth £2.

Left: 1995 Brass £2 Coin. Right: 1997 Bi-Metallic Cupro-Nickel £2 Coin.

What is the Value of the 1986 Gold £2 Coin?

Sorry to disappoint but I am going to take a wild guess that you don't actually have a gold £2 and that your £2 coin is only worth £2 as well.

The 1986 £2 was produced in nickel-brass, silver and gold. However, as the nickel-brass is a 'gold' colour many people believe they have found a 'rare gold 1986 £2' when, in fact, they have been given an ordinary circulation coin in their change!

Unfortunately the Royal Mint have not released the actual mintage figures for the circulated coins but we do believe that they were struck in sufficient quantity to meet demand at the time.

We believe that they were semi-experimental, introduced to test acceptability of a £2 coin, and that they were unpopular because they were too heavy – 16g as opposed to the 12g bi-metallic coin we are now familiar with.

All Gold £2...

If you are fortunate enough to have a gold proof £2 it will usually be in a box with a certificate of authenticity and it then has a higher value based on it's gold content and it's collectable value.

Left: 1986 Brass £2 Coin. Right: 1986 Gold Proof £2 Coin

The gold coins are also produced to a proof finish. Each coin is struck at least twice and has noticeably more detail than an ordinary circulation coin. The design on the proof version will have a matte finish, whilst the field will be incredibly shiny. 

At the time of writing (September 2016) we would offer approximately £500 for a true Gold Proof 1986 £2 complete with box and certificate (or any other year for that matter).

However, if you have been given a £2 coin in your change and it looks gold, we would happily put money on it that it is not! The chances of someone removing one from the presentation box and using it to buy a pint of milk are very small!

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