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Pound Sterling
The pound sterling is generally called the pound and is the currency of the United Kingdom and its dependencies. The pound is the world's third largest reserve currency after the U.S. dollar and the euro.
Pound Coin
The United Kingdom's coinage frequently changes and by 1980 the decision was made to replace the pound banknote with a coin. This was due in large part because of a decline in its purchasing power. The first new pound coin was announced on July 31, 1981 and issued on April 21, 1983.
Technical Elements
The coin's composition is 70 percent copper, 5.5 percent nickel, and 24.5 percent zinc and it is golden in color. It has a diameter of 22.5 millimeters, a weight of 9.5 grams, and a thickness of 3.15 millimeters. It has a milled edge.
Obverse Design
The obverse (front) features a portrait of Her Majesty The Queen Elizabeth II designed by Ian Rank-Broadley. This is the third portrait used on the one pound coin.
Reverse Design
The reverse (back) design features a Celtic cross with a pimpernel flower in the center, surrounded by an ancient Torc representing Northern Ireland. It was designed by Normal Sillman. The same design was used in 1996.
Edge Inscription
The edge of the 2001 pound coin states: Decues et Tutamen, which in translation means "An ornament and a safeguard," and is from Vergil's Aeneid.