How Much is The 2005 Gunpowder Plot £2 Coin Worth?

The Gunpowder Plot £2 coin has been in circulation for over 15 years now so there’s no doubt you will have come across one of these in your change before.

If you’re lucky enough to already own one of these coins, or come across one in your change, you’ll be able to sell it on eBay for around £3.13, not including postage and packaging.

Remember that this is just an average – we saw many examples selling well above and below this value, so keep an eye out on the market if you decide to buy or sell.

In the rest of this article, we’ll explore the design of the coin, as well as how many were entered into circulation and why it’s worth keeping an eye out for one.

How Many Gunpowder Plot £2 Coins Were Made?

The Gunpowder Plot £2 Coin entered circulation in 2005 with a mintage of 5,140,500.

A mintage of around 5 million is not particularly small for a £2 coin at all. The top 5 rarest £2 coins, for example, all have mintages under 1 million with the rarest having a mintage of just 485,500.

It’s safe to say that the Gunpowder Plot £2 coin isn’t particularly rare, but there is still a real demand for the coin on eBay as reflected in the average sold values. There’s also plenty of listings each week completing which is great to see.

Design of The Gunpowder Plot £2 Coin

The Reverse of the Gunpowder Plot 2 Pound
Gunpowder Plot £2 coin Reverse Design

The reverse design of the Gunpowder £2 coin was created by Peter Forster and features an array of swords, crosiers and maces which represent the strength and survival of the establishment. The bi-colour design has the inscription ‘1605’ and ‘2005’ towards the top in commemoration of the 400 year Anniversary with the inscription TWO POUNDS at the bottom of the face.

Around the edge, the inscription ‘REMEMBER REMEMBER THE FIFTH OF NOVEMBER’ can be seen in reference to the famous nursery rhyme. This inscription has caused quite a stir since the release of the coin, as many people have thought to have discovered a minting error whereby the letter R appears as a letter P.

So, is There an Error Gunpowder Plot £2 Coin?

Gunpowder 2 pound coin error
PEMEMBER ‘error’ Visualised – Credit

The Royal Mint released an official statement that this ‘error’ is in fact not an error at all. The explanation is due to wear on the coin the letter R can appear as a P due to the way the edge is milled. This is quite easy to see in the figure above, which shows how the milling coincides with the letter R.

But what exactly does this means in terms of the value of the coin?

Pemember Pemember 2 Pound Coin Value

The fact that the Royal Mint has confirmed that there aren’t any error versions of the Gunpowder £2 coins means that it is actually worth the same as the standard circulated version – roughly £3.13 without postage on eBay.

In some cases, the so-called ‘error’ version might actually be worth less to an avid collector as in order for the R letter to change into a P the coin must have faced considerable wear, which lowers the collectability.

Be on the lookout for eBay listings that offer the coin as an error – these listings are trying to take advantage of those who are less informed to make more profit. This is similar to

Why Was The Gunpowder Plot £2 Coin Made?

The Gunpowder Plot £2 coin was made to commemorate the 400th Anniversary of the Gunpowder Plot, which was a plan to blow up the House of Lords during the opening of Parliament on the 5th November 1605.

The plan was led by Robert Catesby and involved a group of Catholics, the most famous of whom being Guy Fawkes who was in charge of the explosives. The entire plot failed due to an anonymous letter that was sent to William Parker, which resulted in the cellars being searched the day before the opening of Parliament.

Guy Fawkes was discovered with 36 barrels of gunpowder, more than enough to destroy the House of Lords entirely. As the plot was foiled, the others in the group fled and eventually fought against the Sheriff of Worcester at the infamous fight at Holbeche House.

Holbeche House would go on to be known in history for the location of Catesby’s death, alongside others in the group. Eight of the survivors of the fight alongside Guy Fawkes were sentenced to be hanged, drawn and quartered.

The 5th of November has since been celebrated each year at Bonfire’s night in the UK, hence the Royal Mint producing a coin in commemoration.

Where Can You Buy The Coin?

Although 5,140,500 of the coins entered circulation, there were also a couple of other versions that were produced by the Royal Mint. The mintage figures for these versions can be found below:

  • Brilliant Uncirculated – 12,044 brilliant uncirculated versions were produced which came in a leaflet rather than a presentation box.
  • Silver Proof – The silver proof issue was limited to 10,000 worldwide and came in a presentation box with a certificate.
  • Silver Proof Piedfort – 4,585 silver proof piedfort versions were produced and come boxed with a certificate.
  • Gold Proof – 1,500 gold proof versions were made which are remarkably different in appearance as the coin becomes a two-tone gold colour design rather than the standard silver and gold appearance of a normal two-pound coin.

Circulated versions can be bought (or sold) on eBay regularly, just be careful of the ‘error’ listings that you might stumble across. For uncirculated versions, the Royal Mint, which is the usual place to look, has sold out many years ago. If you want to purchase an uncirculated version you’ll have to browse other coin dealerships to see if they have any stock.

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