You are here: Home - Saving-Banking - News -

20 years ago: £2 coin launched and a litre of petrol cost just 66p

0
Written by: YourMoney.com
15/06/2018
The £2 coin turns 20 today and in those two decades, technology has advanced, as have prices on everyday goods and services. Here are 10 facts to commemorate the anniversary.

GoCompare Money shares 10 facts about the bi-coloured coin:

  1. The £2 coin was launched on 15 June 1998
  2. It was launched seven months after the original intended issue date in November 1997. The delay followed concerns from the vending industry
  3. The Royal Mint launched a public competition for a design of the reverse of the first £2 coin. The winning design, by Bruce Rushin, an art teacher from Norfolk, featured a series of concentric circles depicting technological development from the Iron Age to the Industrial Revolution, the Computer Age to the internet
  4. The £2 coin was the first bi-metallic coin issued in the UK since the tin farthings with a copper plug in 1692
  5. There are 37 different £2 coin designs currently in circulation
  6. Three new commemorative designs will be released in 2018. These mark 200 years since the publication of Frankenstein, the 100thanniversary of the Royal Airforce and 100 years since the World War 1 Armistice
  7. There are 479 million £2 coins in circulation, worth £957m
  8. Nearly a third (31%) of UK adults who save money in a coin jar or piggy bank, save £2 coins
  9. When the £2 coin was launched in June 1998, a pint of milk cost 34p (March 2018: 44p), an 800g loaf of sliced white bread cost 52p (March 2018: £1.06), a pint of draft lager cost £1.89 (February 2018: £3.61) and a litre of unleaded petrol was 66p (March 2018: £1.19)
  10. The 2002 Northern Ireland Commonwealth Games £2 coin is the most scarce and collectable £2 coin in circulation.

Matt Sanders of GoCompare Money, said: “Since the £2 coin’s launch 20 years ago, contactless technologies have resulted in Britain becoming an increasingly cashless society.  According to industry figures cash now represents less than half of all payments made by consumers, and it remains to be seen if the £2 will still be in use in another 20 years.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Your right to a refund if travel is affected by train strikes

There have been a wave of train strikes in the past six months, and for anyone travelling today Friday 3 Febru...

Could you save money with a social broadband tariff?

Two-thirds of low-income households are unaware they could be saving on broadband, according to Uswitch.

How to help others and donate to food banks this winter

This winter is expected to be the most challenging yet for the food bank network as soaring costs push more pe...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week