2 Pence - Elizabeth II 3rd portrait magnetic (1992–1997)

One row for each year the 2 Pence - Elizabeth II 3rd portrait – magnetic was struck. Prices are medians of verified sold listings matched to that year from the listing: circulated is worn condition up to Extremely Fine, uncirculated is About Uncirculated or better. A count in brackets means fewer than three sales behind the figure; a grey figure marked "type" is the median across every year, shown where that year has no sale of its own yet; years with no sales yet fill in as sales are recorded. Most types have been searched year by year only since October 2026, so later years are still filling in. Use the grade table below for a price by condition across all years.

About the 1992 2 Pence - Elizabeth II – magnetic

The 1992 2 Pence - Elizabeth II – magnetic is a circulating 2 pence coin issued from 1992 to 1997, struck in copper plated steel. It weighs 7.12g and measures 25.9mm across. Reverse design: Badge of the Prince of Wales, a plume of three ostrich feathers enfiling a coronet of cross pattée and fleur de lys, dividing motto with legend above and denomination below.

Mintage figures are recorded for 6 years between 1992 and 1997, 1,786,425,000 coins in all. 1992 is the scarcest date, with 102,247,000 struck.

Common questions

History and design

The 2p was a bronze coin from its introduction on 15 February 1971 until September 1992, when the Royal Mint switched it to copper-plated steel. The Mint's explanation is the rising price of metals on world markets. The plated coin has a mild steel core under a copper coating and matches the bronze coin in colour, weight and diameter.

This type covers the steel coins with Raphael Maklouf's portrait, dated 1992 to 1997. The Royal Mint's figures give 102,247,000 for 1992, 235,674,000 for 1993, 531,628,000 for 1994, 124,482,000 for 1995, 296,278,000 for 1996 and 496,116,000 for 1997, which comes to 1,786,425,000.

The Mint publishes one figure for 1992 without dividing it by metal. According to Tony Clayton's reference, the bronze 2p coins dated 1992 are found only in the Mint and proof sets of that year.

Christopher Ironside's reverse shows the Badge of the Prince of Wales: plumes in a coronet, with the motto ICH DIEN (I serve). TWO PENCE is above and the figure 2 below. Until 1982 the wording was NEW PENCE.

The obverse has the Maklouf portrait, used on the 2p from 1985 to 1997, with the legend ELIZABETH II D G REG F D and the date. The edge is plain. Steel is less dense than bronze, so the plated coin is thicker for the same 7.12g: 2.03mm against 1.85mm in the Royal Mint's specification.

Varieties and errors

Tony Clayton records that the reverse was slightly modified during 1993, the most obvious change being the shape of the P in PENCE. He regards the two 1993 reverses as equally common.

Collecting notes

Use a magnet. A 2p of this portrait that is attracted to it is this type, and one that is not is the earlier bronze type of 1985 to 1992. The test matters only for 1992, since 1993 to 1997 coins are all plated steel.

In the Royal Mint's figures 1992 is the lowest of the six dates and 1994 the highest. All six still circulate and remain legal tender for amounts up to 20 pence.

The design carries on with a new portrait from 1998, a year in which the Mint struck the 2p in both metals. See the 1998 to 2008 copper-plated steel 2p.