In 1998, the Royal Mint produced another silver proof Britannia issue, after the success of the 1997 issue, but using the standing Britannia design which had graced all the gold Britannia issued from 1987 to 1996. They also started to issue one ounce bullion (non-proof) versions. These also seem to have been popular and have been issued every year since.
Introduced in 1997 following the success of the gold Britannia, the Royal Mint started to produce a one ounce silver Britannia coin with a face value of two pounds (£2). Silver Britannias are, quite appropriately, struck in Britannia silver, which is 958 parts per thousand silver, instead of the more usual sterling silver of 925 parts per thousand. Many other world silver coins, particularly those of European / American influence are struck in only 900 silver. Additionally, the new one ounce coins, are an attractive design, made to appeal to collectors. The denomination, or face value, is two pounds.
Fourth Portrait From 1998, as with all British coins, the obverse design changed to the "fourth portrait", showing a more mature likeness of The Queen.
The reverse type for 1998 is the standing Britannia as used on the gold Britannias from 1987, and recalls the standing Britannia design used on florins of Edward VII.