Common: 10,000,000 or more minted. Rarely sells: 2 verified sales in the last 12 months.
2 Pence - Elizabeth II 4th portrait magnetic (1998–2008)
| Country | United Kingdom |
| Year | 1998–2008 |
| Denomination | 2 Pence |
| Face value | 2p |
| Mintage by year |
Scarcest year: 10,600,000 struck
|
| Mint | Royal Mint · Llantrisant |
| Circulation | Circulating |
| Composition | Copper plated steel |
| Weight | 7.120g |
| Diameter | 25.9mm |
| Thickness | 2.05mm |
| Shape | Round |
| Edge | Plain |
| Orientation | Medal alignment ↑↑ |
| Obv. artist | Ian Rank-Broadley |
| Rev. artist | Christopher Ironside |
| Grade scale | UK (EF/UNC) |
Fourth crowned portrait of Queen Elizabeth II right, wearing the Girls of Great Britain and Ireland tiara, legend around.
ELIZABETH II D G REG F D
The 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.
magnetic 2p market value
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Affiliatemagnetic 2p price history
Daily limit reachedmagnetic 2p value by year
1998 to 2008 · median sold prices| Year | Mintage | Circulated | Uncirculated | Sales | |
|---|---|---|---|---|---|
| 1998 | 115,154,000 | £1.72 type | |||
| 1999 | 353,816,000 | £1.72 type | |||
| 2000 | 536,659,000 | £1.72 type | |||
| 2001 | 551,880,000 | £2.28 (1) | 1 | ||
|
VF£12.50EF£28.00UNC£95.00
⭐ Pro: the 2001 coin's sales by grade, and the chart filtered to one year
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| 2002 | 168,556,000 | £1.72 type | |||
| 2003 | 260,225,000 | £1.72 type | |||
| 2004 | 356,396,000 | £1.16 (1) | 1 | ||
|
VF£12.50EF£28.00UNC£95.00
⭐ Pro: the 2004 coin's sales by grade, and the chart filtered to one year
Start 7-day free trial
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| 2005 | 280,396,000 | £1.72 type | |||
| 2006 | 170,637,000 | £1.72 type | |||
| 2007 | 254,500,000 | £1.72 type | |||
| 2008 scarcest | 10,600,000 | £1.72 type | |||
One row for each year the 2 Pence - Elizabeth II 4th 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.
magnetic 2p value by grade
Realised auction prices · ⭐ Pro Expand rows for individual sale records| Grade | Latest | Median | 30d Δ | All-time range | Sales (1yr) | Total sales | Last sale | |
|---|---|---|---|---|---|---|---|---|
| VF | £1.16 🔒 eBay | £1.72 (2) | – | £1.16 – £2.28 | 2 | 2 | 01-10-2026 | |
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About the 1998 2 Pence - Elizabeth II – magnetic
The 1998 2 Pence - Elizabeth II – magnetic is a circulating 2 pence coin issued from 1998 to 2008, struck in copper plated steel. It weighs 7.12g and measures 25.9mm across. Reverse design: The 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 11 years between 1998 and 2008, 3,058,819,000 coins in all. 2008 is the scarcest date, with 10,600,000 struck.
Common questions
How much is the 1998 2 Pence - Elizabeth II – magnetic worth?
The 1998 2 Pence - Elizabeth II – magnetic has a price in one grade on MyCoinage so far: £1.72 in VF, the median of its verified sales.
Which is the lowest mintage 2p?
Among 2p coins struck for circulation, it is the 2008 coin with the old Prince of Wales's feathers reverse. The Royal Mint's figures give 10,600,000, the lowest of any 2p entry with a circulating mintage. The Royal Shield 2p of the same year had 241,679,000.
How do I tell a steel 1998 2p from a bronze one?
Use a magnet. The Royal Mint struck the 1998 2p in both copper-plated steel and bronze, and only the steel coin is attracted to a magnet. Its figures give 115,154,000 in steel and 98,676,000 in bronze, so neither is scarce.
How many 2p coins were made from 1998 to 2008?
The Royal Mint's figures for the copper-plated steel coins with the feathers reverse total 3,058,819,000 across the eleven years. The highest year is 2001 with 551,880,000 and the lowest is 2008 with 10,600,000.
Who designed the 1998 to 2008 2p?
The reverse, the Badge of the Prince of Wales, is by Christopher Ironside and was used on the 2p from 1971 to 2008. The Queen's portrait is by Ian Rank-Broadley, used from 1998 to 2015, with his initials IRB below the bust.
How do I identify the 1998 2 Pence - Elizabeth II – magnetic?
Check the weight 7.12g and diameter 25.9mm and the metal (copper plated steel) against the specification table on this page. The reverse design is described above.
History and design
From 1998 the 2p carried Ian Rank-Broadley's portrait of the Queen, and this type is the copper-plated steel coin with that portrait and the original decimal reverse. It runs to 2008, the year the reverse was replaced.
The first date has a complication. Steel had been the 2p's metal since September 1992, but the Royal Mint states that in 1998 the coin was struck in both copper-plated steel and bronze. Its figures list them separately: 115,154,000 in steel, which belong here, and 98,676,000 in bronze, which the catalogue treats as a separate coin.
Production then rose sharply, to 353,816,000 for 1999, 536,659,000 for 2000 and 551,880,000 for 2001, before falling back to between 168,556,000 and 356,396,000 a year from 2002 to 2007. The final date is small: only 10,600,000 coins dated 2008 were struck with this reverse before Matthew Dent's Royal Shield design took over. The eleven years total 3,058,819,000.
The reverse is Christopher Ironside's Badge of the Prince of Wales, plumes in a coronet with the motto ICH DIEN (I serve), with TWO PENCE above and the figure 2 below. The Royal Mint credits Ironside with the 2p reverse from 1971 to 2008, which makes this the design's last circulating form.
The obverse has the Rank-Broadley portrait with the initials IRB below the bust and the legend ELIZABETH II D G REG F D and the date. The edge is plain. The coin weighs 7.12g and is 25.9mm across, and the steel version is 2.03mm thick.
Collecting notes
The date to look for is 2008. In the Royal Mint's figures 10,600,000 is the lowest of any 2p struck for circulation, well below the 16,600,000 of 2017. Check the reverse, because most 2008 2p coins are the Royal Shield type, of which 241,679,000 were struck. The scarcer coin has the feathers.
For 1998, test with a magnet. A coin that is attracted is this type, and one that is not is the 1998 bronze 2p. Tony Clayton notes that the 2p coins in the 1998 proof and uncirculated sets are plated steel.
All dates remain legal tender for amounts up to 20 pence and still circulate. Clayton lists silver proofs of this design dated 2000, 2006 and 2008, gold proofs of 2002 and 2008 and a platinum proof of 2008.
No recognised varieties or mint errors are documented for this coin.
Sources
The history, design, varieties and collecting notes on this page are drawn from these sources. Prices come from recorded sales, not from them.
- UK coin mintage figures (data file), The Royal Mint (read 9 Oct 2026)
- 2p Coin Designs and Specifications, The Royal Mint (read 9 Oct 2026)
- What are 'bronze' coins made from? Why are some magnetic and some not?, The Royal Mint (read 9 Oct 2026)
- UK Decimal Coins: Two Pence, Coins of the UK (Tony Clayton) (read 9 Oct 2026)
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