Celebrate the Presidency of the Council of European Community Ministers and the completion of the single market with this very unique coin. Any collector will be ecstatic to add this rare and valuable coin to their collection.
If you are fortunate enough to find the coin for sale, expect to pay an estimated value of £48.50 according to the average sold value on eBay.
This 50p coin is really rare, but that’s not the only aspect that makes it so desirable. It is also the first British coin to bear dual dates of 1992 and 1993 instead of the typical single dated coins.
How many 1992 single market 50p coins are there?
Only 109,000 of these coins were released into circulation. Additionally, the coin was issued in two different Brilliant Uncirculated annual mint sets but was only included in the proof sets for 1992. It was also issued in silver and gold. Even with the uncirculated special proof sets, the total mintage of this coin remained low.
All circulation of 50p coins for 1992 was this commemorative type coin as opposed to the Seated Britannia. The uncirculated and proof mint sets, however, had both versions.
The design was re-issued in 2009 as a Non-Circulating Legal Tender coin to mark the 40th anniversary of the 50 Pence coin denomination.
The Design of the 1992 single market 50p coin
The coin is part of the 50 pence design with a 7-sided shape that forms an equilateral curved heptagon which has been minted since 1969. The shape is sometimes called a Reuleaux polygon which is a curve of constant width leaving the diameter of the coin with a consistent measurement regardless of the bisection you measure.
As the name implies, the face value of the coin is worth 0.50 pounds sterling.
The 1992 Fifty-Pence coins have a mass of 13.5 grams, a diameter of 30.0 mm, and a thickness of 2.5 mm with a plain edge. It consists of Cupronickel.
The Obverse features the Queen’s portrait by Raphael David Maklouf in which the Queen wears the George IV State Diadem. The image shows a crowned bust of Queen Elizabeth II facing right. It is sometimes referred to as the Third Portrait.
She is wearing the royal diadem which she wears on her way to and from the State Opening of Parliament. She is also seen wearing a pearl necklace and earrings in the image. The initials of the artist, RDM, are on the bottom left of her neck truncation.
Around her portrait to the left is her name, ELIZABETH II. Curved along the right-hand side of the outer rim is the monarch’s legend, DEI GRA REG F D, which is Latin meaning Elizabeth the Second, by the grace of God, Queen, Defender of the Faith.
The original reverse of the 50p was a design of a seated Britannia alongside a lion and holding an olive branch in her left hand and a trident in her right.
The design was the creation of Christopher Ironside and was used from 1969 to 2008 with the words NEW PENCE used from 1969-1981, and the words FIFTY PENCE used from 1982-2008 above Britannia. The numeral 50 was seen underneath the seated figure.
When the smaller 5p and 10p coins were introduced in 1990 and 1992, the 50p became the largest coin in circulation. In 1994, after a governmental review, the 50p was made smaller. The new smaller designed 50p was introduced on September 1, 1997. The large 50p coins were demonetized in 1998.
In addition to the standard 50p designs, several reverse designs have been minted on the 50p coin to commemorate important events.
The reverse of the 1992 Single Market 50p coin shows a representation of a table on which 12 stars are placed. The stars are linked by a network of lines to connect the stars and the 12 surrounding chairs that are seated around the table.
One of the chairs has the letters the UK on it. The dates 1992 and 1993 are to the left and right top outer rims. Centred below at the very bottom of the design is the number 50. At an angle to the right side of the outer rim is the word PENCE. The designer’s initials MMD, Mary Milner Dickens, are seen just below the table to the right above the letter “E” in PENCE.
What does the 1992 single market 50p coin represent?
It had been almost 20 years between the first and the second special commemorative 50p coin designs. The first was in 1973 that celebrated the European Economic Community EEC. Once again, the 50p would celebrate links with Europe, but this time it would mark the UK’s entry into the single market.
The connecting lines between the stars and the 12 chairs around the table represent the countries of Europe working together.
Sometimes, this coin is referred to as the 1992-1993 Fifty Pence Pence Coin – Single Market because of the dual date printed on the reverse. In 1992. This 50p coin was issued to commemorate the United Kingdom’s Presidency of the European Community and the completion of the Single European Market.
During the second half of 1992, the United Kingdom held the Presidency of the European Community. The Single European Market came into effect on January 1, 1993.
As a forerunner of the current EU, the coin was to celebrate the Presidency of the Council of European Community Ministers and the completion of the single market.
The Designer of the 1992-1993 50p Coin
Mary Milner Dickens was the designer of this special commemorative coin. It was her first coin design. She was known as a sculptor.
Her design was chosen again in 2000 to commemorate the 150th anniversary of the Public Libraries Act. She also designed the crown of 2001 marking the centenary of the death of Queen Victoria. Additionally, she designed the 50p of 2003 for the centenary of the foundation of the Women’s Social and Political Union.
Where can you buy the 1992 single market 50p coin?
This coin is highly sought after and hard to find making its price soar. On average on eBay.co.uk, the average selling price of the 1992 Single Market 50p coin is £48.50. The actual condition of the coin is also going to make a difference in the asking price.
As always, before buying or selling coins online, do your research first. Be especially aware of any listings that are copies instead of originals.