1992 Copper-Plated Steel 2p Coin
The 1992 Copper-Plated Steel 2p is a 2p coin struck for circulation with 102.2 million made. Value band: face value. Here is how to recognize it, what makes one worth more and what to check on yours.
- Year
- 1992
- Circulation mintage
- 102,247,000
- Value band
- Face value
- Composition
- Copper-plated steel
Original illustration of the coin's shape and metal. Tap to flip. Not a picture of the actual design.
Face value · Small premium · Collector premium · Significant rarity. We use bands because prices change daily.
What is a 1992 Copper-Plated Steel 2p worth?
102.2 million were made, so the 1992 Copper-Plated Steel 2p is easy to find. A circulated one is worth face value; collectors pay a little more only for uncirculated coins and coins still in their original Royal Mint pack.
What would make yours worth more:
- Full original color
- A coin from a sets-only year
- A recognized variety or genuine error such as the 1983 NEW PENCE mule
For market prices, look at recent sold results for the same coin in the same condition, not asking prices.
Quick answers
- Is the 1992 Copper-Plated Steel 2p rare?
- No. 102.2 million were made, so circulated examples are worth face value.
- How many 1992 Copper-Plated Steel 2p coins were made?
- 102,247,000 were struck for circulation.
- What is the 1992 Copper-Plated Steel 2p made of?
- Copper-plated steel. It weighs 7.12 g and measures 25.9 mm.
- Is the 1992 Copper-Plated Steel 2p still legal tender?
- Yes. The 2p is legal tender, though 1p and 2p coins together only have to be accepted for payments up to 20p.
The 1992 2p coin in context
Copper-plated steel arrived on the 2p in 1992. The idea was simple: a steel core is far cheaper than solid bronze, while a thin copper plating keeps the familiar look. The penny made the same switch that year, so the coppers in British pockets slowly became magnetic. Steel became the standard 2p metal from 1992, though bronze made a brief return in 1998.
The 1992 figure in the data, 102,247,000, appears against both versions, but the bronze coins came only from sets, so it is really the steel total. Production rose to 235,674,000 in 1993, the first full year of steel 2p coins. It then jumped to 531,628,000 in 1994. The switch caused some confusion when people first noticed that new coppers were magnetic. The magnet test is still the standard way to tell the two 1992 coins apart and it takes a couple of seconds. For anyone sorting a jar of old 2p coins, the steel 1992 is the starting point of everything that follows. From here on, nearly every 2p in your change will stick to a magnet.
How to recognize it
Steel and bronze 1992 coins look almost identical. Both show Christopher Ironside's Prince of Wales's feathers, TWO PENCE and the numeral 2, with Raphael Maklouf's portrait of the Queen in a diadem on the other side. The steel coin keeps the 25.9 mm size and 7.12 g weight of the bronze one and has a plain edge. The difference is inside: a steel disc plated with copper. On worn coins the plating can rub thin at the high points of the feathers and the portrait, which can leave a grayish tint. Steel coins can also rust if stored in damp places.
The other side carries Raphael Maklouf's portrait of Queen Elizabeth II, used from 1985 to 1997.
1992 Copper-Plated Steel 2p by the numbers
In mintage terms the 1992 Copper-Plated Steel 2p ranks 9th lowest of 45 2p dates and varieties from 1971 to 2021. The next scarcer is the 2010 2p (99.6 million); the next more common is the 1985 2p (107.1 million).
For scale, the most common is the 1971 2p with 1.45 billion, about 14 times as many. The scarcest is the 2008 Old Reverse 2p with 10.6 million, 9.6 times fewer than this one.
Compared with the dates around it, the 1992 output was 1.2 times the 1991 figure and 2.3 times fewer than 1993.
Over the 1990s the Mint produced 2.65 billion 2p coins across 12 dates and varieties; the 1992 Copper-Plated Steel 2p accounts for 3.9% of that.
What to check on your 1992 Copper-Plated Steel 2p
- Confirm the date and the variety (copper-plated steel). Most dates are common, so the date and any variety decide whether a coin is worth setting aside.
- Try a magnet: 1992 2p coins are copper-plated steel and stick to it. A 1992 coin that does not stick is worth a closer look.
- Look at the surfaces under a light. Coins from sets have unbroken luster and color; change-worn coins are dull and scuffed.
- Never clean it. Rubbing or dipping strips the original color and leaves fine scratches.
A 1992 steel 2p from change is face value. It is the first steel 2p, which gives it a place in any type set. Collectors usually keep it beside the bronze 1992 coin. Uncirculated examples with bright, unspotted plating can carry a small premium. Store steel coins somewhere dry, because damp storage leads to rust spots that are hard to remove and spoil the look of the copper surface. Collectors often display the bronze and steel 1992 coins together as a pair.
Copper-plated steel 2p with the feathers (1992 to 2007)
In 1992 the 2p followed the penny into copper-plated steel. Bronze had become a costly material for a coin of such low value, so the Royal Mint switched to a steel core with a copper skin. The 1992 2p exists in both metals, but the bronze version was made only for that year's Royal Mint sets; the coins struck for change were steel. The new coins kept the 25.9 mm diameter and 7.12 g weight, so machines and counting scales were not affected. The one obvious difference is that steel coins are magnetic.
The switch was not a clean break. In 1998 the 2p was struck in bronze as well as steel, giving collectors a second date to check with a magnet. That year also brought Ian Rank-Broadley's portrait, replacing Raphael Maklouf's, which had been used since 1985. Ironside's feathers and the TWO PENCE wording continued throughout. Output climbed to 536,659,000 in 2000 and to 551,880,000 in 2001, the highest 2p figures of any dates apart from 1971.
Most 2p coins of this period are steel and face value when worn. Two dates deserve a magnet test: 1992 and 1998. Steel coins also show their age in their own way, with rust spots, pink scratches where the plating is cut and flaking on badly stored pieces. Those are damage, not errors. They lower a coin's appeal. Collectors look for bright coins with full feather detail, or uncirculated examples from Royal Mint sets.
Mintage chart
Specifications
| Country | United Kingdom |
|---|---|
| Denomination | 2 pence |
| Issuer | Royal Mint |
| Year | 1992 |
| Circulation mintage | 102,247,000 |
| Composition | Copper-plated steel |
| Weight | 7.12 g |
| Diameter | 25.9 mm |
| Shape | Round |
| Edge | Plain |
| Portrait | Maklouf |
Other 1992 2p coins
| Coin | Circulation mintage | Value band |
|---|---|---|
| 1992 Bronze 2p Coin | Collector issue | Small premium |
Frequently asked questions
Why does my 1992 2p stick to a magnet?
It is the copper-plated steel version, introduced in 1992 to cut costs. The steel core is magnetic. Bronze 1992 coins also exist; they were made only for sets and are not magnetic. Both are genuine and neither is an error, so there is no need to worry.
When did 2p coins become magnetic?
In 1992, when the Royal Mint switched the 2p from bronze to copper-plated steel. Almost every 2p made since then is magnetic, apart from the bronze coins struck again in 1998.
Mintage figures: Two pence (British decimal coin) (Wikipedia, CC BY-SA 4.0), compiled from Royal Mint figures. How we build these pages.