Metal fiver is now loose change

By by Adrian Darbyshire Twitter:@iomAdrian in Events

A new set of Manx coins has been launched.

The set, the first since 2004, includes a £5 coin.

While there have been £5 coins before, they were for coin collectors. The new one is intended to be used every day.

There is also a round £1 coin rather than a 12-sided one, which was introduced in the UK last week. There are no new pennies or 2p coins.

The set features the following denominations: 5p, 10p, 20p, 50p, £1 and £5.

Each has a Celtic border and a motif depicting a modern take on a traditional Manx landmark, theme or tradition, including the Manx shearwater, Manx cat, Viking longship, Loaghtan sheep, raven and falcon, Tower of Refuge and the Three Legs symbol.

The official launch took place on Monday at the Tynwald library.

Guests included Mike Southall, promoting an updated edition of his reference book on Manx coins, and Raphael Maklouf, chairman of Tower Mint Ltd, which has produced the new set for the Isle of Man.

The 5p coin features a Manx shearwater and 10p a Manx cat. A Viking longship adorns the 20p coin and the 50p has a Manx loaghtan

On the £1 coin there is a raven and falcon and the £2 coin depicts the Tower of Refuge.

The new £5 coin boasts the Three Legs of Man.

On the other side, each coin has the approved Queen Elizabeth II portrait.

A Manx shearwater design was used on a 2p coin which was in circulation between 1976 and 1979, while the Manx cat featured on the penny from 1980 to 1983.

There have been five different designs of a Viking longship used in the past on the 50p coin between 1971 and 1987.

And the Manx loaghtan has appeared on various coins previously, the penny from 1976 to 1979, the 5p from 1980 to 1983 and the 10p from 1984 to 1987.

These new 2017 coins are listed in Mike Southall’s updated reference book.

The first official Manx coins, halfpennies and pennies, were issued by the Lord of Mann, James Stanley 10th Earl of Derby, and were made legal tender by an Act of Tynwald on June 24 1710.

Manx coins, and a variety of tokens, were circulating in the island until 1839.

Thereafter British coins became the only legal currency until decimalisation in February 1971.

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Richard Cooper · 5 days ago · Report

No 1ps and 2ps at all? What will happen?

Treasury Tag · 133 days ago · Report

Cont. Also any time I've been in my bank they seem to be unaware of any phasing out which is quite funny. Ramsey Court House so irrelevant yet it is in the news all the time. The phasing out of money that people will need to get rid of no news on this at all.

Treasury Tag · 133 days ago · Report

The 1p and 2p are indeed being phased out. I'm not too sure on this but I think you have till August or September to get rid of your 1p and 2p. Either that or after this will no longer be legal tender and you can only exchange in bank. I'm surprised I've not heard more of this other than a small story on manxradio a while ago.

Sir Nigel Farage · 133 days ago · Report

Why on earth have we given these £5 to school children?! There is no need for it and they've cost us a load of money. Idiots.

Geoff, Colby · 133 days ago · Report

I hope that the fact that there are no re-designed 1p and 2p coins means that these will shortly be phased out. They are now almost valueless; 2p today has the same purchasing power as 0.15p in 1971, the year of decimalization, when the smallest coin was 0.5p. This decimal halfpenny was withdrawn in 1984.

Ben · 133 days ago · Report

Any more news on our much-loved £1 note being reprinted?

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