UK, 1994 £2 Silver Proof "Piedfort" Coin. Commemorating the Tercentenary of the Bank of England. FDC

Description

1994 Silver Proof "Piedfort" Two-Pound Coin. Commemorating the Tercentenary of the Bank of England. The Bank of England is celebrating its tercentenary in 1994, and appropriately the occasion is commemorated on the coinage, linking two great institutions both intimately connected with British currency. It was Scottish financier William Paterson who initiated a national bank when, seeing that confidence in the goldsmith bankers was waning, he proposed the lending of more than a million pounds to a government desperate for funds to finance the costly war with France. In return the subscribers would be incorporated as a joint stock company under the title "Bank of England". It was a venture supported by William III and the loan capital was raised in less than two weeks. The Charter was sealed on 27 July 1694 and the Bank opened for business shortly afterwards. In stye, the reverse design of this commemorative silver Proof Piedfort two-pound coin by Leslie Durbin reflects the period in which this great institution was established. At the centre sits Britannia 'looking on a Bank of money' just as she appeared on the Banks’ original corporate seal, with the crown and cypher of William and Mary above. The words 'Bank of England' appear in familiar banknote script while the motto of William Paterson, sic vos non vobis (thus you labour but not for yourselves) is incorporated into the design as an incuse inscription. The obverse features Raphael Maklouf's elegant portrait of Her Majesty the Queen. Piedfort coins are struck using blanks which are thicker than normal. As their name suggests they have close associations with France, where, from the twelfth century, they were apparently used by the King as presentation pieces. This superb two-pound coin weighs 31.96 grammes, measures 28.40 millimetres in diameter and is legal tender within the United Kingdom. Struck in Sterling (.925) silver to the finest Proof quality. GRADE: Superb as issued by the Royal Mint Boxed with Certificate of Authenticity. 63282