What Is the Crown Coin in British Money?

The British crown coin represents a significant piece of the United Kingdom’s monetary history. It has long been recognized as a large-denomination coin, initially playing a role in everyday transactions. Over centuries, its form and function have evolved, reflecting changes in the nation’s economy and coinage practices.

Understanding the British Crown Coin

Historically, the crown coin was a substantial piece of British currency. Its value was set at five shillings, which equated to a quarter of one pound or 60 pence in the pre-decimal system. These coins were typically large, often weighing around one ounce and having a diameter of approximately 38 millimeters. Initially, crowns were minted from silver, with compositions like 92.5% sterling silver. Later, cupro-nickel became the standard material for these coins.

Evolution of the Crown Coin

The crown coin’s journey began with its introduction as the “Crown of the Double Rose” during Henry VIII’s monetary reforms in 1526, first appearing as a gold coin. The first silver crowns were introduced later in 1551 during the reign of Edward VI. For a period, both gold and silver crowns were minted, with gold crowns being discontinued after 1662. Following the Acts of Union in 1707, the English crown was succeeded by the British crown, retaining its five-shilling value.

Production of crowns experienced interruptions, such as a period between 1751 and 1818 due to a lack of silver. The Great Recoinage of 1816 led to their reintroduction, often featuring the iconic St. George and the Dragon design. Over the 19th and 20th centuries, the crown gradually transitioned from a common circulating coin to one primarily minted for commemorative purposes due to its large size and decreasing practical utility for daily transactions. By 1902, crowns were no longer struck for everyday use, although commemorative issues continued. The last silver crown intended for general circulation was issued in 1937, with subsequent issues primarily in cupro-nickel.

Denomination and Value

Throughout much of its history, the British crown coin maintained a consistent legal tender value of five shillings. This value represented a quarter of a pound in the pre-decimal currency system, where one pound equaled twenty shillings, and each shilling contained twelve pence. While the face value remained stable for centuries, the specific designation on the coin sometimes varied. From 1927 to 1939, the word “CROWN” appeared on the coin, and between 1951 and 1960, it was marked “FIVE SHILLINGS.”

After the decimalization of British currency in 1971, the crown’s face value was converted to 25 new pence. This maintained its equivalent value as a quarter of a pound in the new decimal system. Coins struck from 1818 onward, including those pre-dating decimalization, still hold legal tender status at this 25-pence valuation.

The Crown Today

In the modern era, the British crown coin primarily serves as a commemorative item rather than a circulating currency. While older crowns minted since 1818 are still technically legal tender at a value of 25 pence, they are rarely used in daily transactions. Commemorative crowns issued since 1990 have a significantly higher face value of five pounds. These contemporary five-pound crowns are authorized by Royal Proclamation under the Coinage Act 1971, granting them legal tender status.

Despite their legal tender designation, these commemorative coins are primarily collected and are not typically accepted by retailers or banks for everyday purchases. They are produced to mark significant national events, such as royal jubilees or other notable anniversaries. The actual value of many crown coins to collectors far exceeds their stated face value, particularly for older or rarer issues.