2017-01-06 Fri

A new commemorative coin was issued by the Royal Mint on 1st January celebrating the 300th anniversary of an economic reform that was introduced in the form of a gold standard by Sir Isaac Newton in 1717. Newton also introduced weight standards for issuing coins that became a reliable and desired form of payment. Such standards were not seen before and they also went on to become an important factor for World Coinage. The gold standard was set in 1704 by Queen Anne based on the standard on the gold Spanish doubloon. The ratio between gold and silver was established by Newton which led to the replacement of silver coinage with a gold series of coinage.

The gold standards were used for 100 years in the form of new gold Guineas of an iterated weight worth exactly 21 Shillings and 6 Pence, which became the standard. After the end of Napoleonic Wars by the end of 1815, there was a shortage of gold and silver and paper banknotes were issued by the Bank of England with gold deposits. Silver coins were not issued for 65 years and circulating gold coins were introduced. After the end of the war, the Great Recoinage Act of 1816 took place making gold coins economically infeasible. A new standardised silver circulation coins and a gold Pound coin equal to 20 Shillings was in consideration.

More than as a mintmaster, Sir Isaac was known for his contributions in physics and astronomy. The reverse depicts the design featured on the 1-Pound note celebrating his scientific achievements relating to astronomical bodies. Other inscriptions include SIR ISAAC NEWTON and FIFTY PENCE. The obverse features the date 2017 and a portrait of Queen Elizabeth II.

The 50 Pence coins are released in different forms like Cupro-nickel, .925 silver 8 g Proof coin, .925 silver 16 g Proof coin and a .9167 gold 15.5 g Proof coin.