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Your question actually refers to the £2 coin, and the answer is no. Here's an extract from Clayton's, an excellent British coin site:

There have been rumours circulating in the UK that the two pound coin where the queen is wearing a necklace is worth a lot (the highest figure quoted to me is £75). There have even been rumours that they are being recalled and that banks and post offices will give a premium for them. This is an urban legend. 1997 two pound coins are plentiful, circulate readily, and are NOT scarce. Sorry to disappoint you on this. Banks and post offices will only give you two pounds for them. No less than 13,734,625 have been issued for circulation according to the Royal Mint. Hardly a rare coin. However, they are not too often seen as not only are much larger numbers of later coins available, but because of the rumours they have been picked out of circulation. There was a problem in the production of the new bimetallic two pound coins which meant that the release date was delayed from 1997 to 1998. In the meantime the portrait was changed for the newer coins minted in 1998. They issued the 1997 coins (with the 'necklace') anyway, in large quantities. They are not worth more than two pounds, nor will they be unless in uncirculated condition in a lot of years time (as will the 1998, 1999, etc coins)

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16y ago
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14y ago

All British Coins issued from 1985 to 1997 inclusive, have the Third Portrait of Queen Elizabeth II shown wearing a necklace and ear rings on the obverse.

Any value or rarity associated with any of these coins will not be attributable to the necklace or ear rings.

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14y ago

All British coins issued between 1985 and 1997 depict Elizabeth II with a necklace. If you have a closer look, there will be a year on the coin. The year will be much more helpful in identifying your coin than whether or not she is wearing a necklace.

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13y ago

All British coins issued from 1985 to 1997 show Queen Elizabeth II wearing earings and a necklace.

The 2 Pence coins from this period are still potentially in circulation so, unless they are part of a Proof or Uncirculated mint set or are individual Proof or Uncirculated coins and in absolute mint condition, they are worth 2 Pence.

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12y ago

All British Two Pound coins minted from 1986 to 1997 inclusive have the third portrait of Queen Elizabeth II depicting her wearing a diadem, necklace and earrings.

They are worth Two Pounds.

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12y ago

No. A Two Pound coin is worth Two Pounds whether the Queen is wearing a necklace of not.

Queen Elizabeth II is shown wearing a necklace on all British coins issued from 1985 to 1997 inclusive. This image of Queen Elizabeth II is known as the "Third Portrait" and was designed by Raphael Maklouf.

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11y ago

They are worth One Pound.

All British coins minted from 1985 to 1997 inclusive use the "Third Portrait" of Queen Elizabeth II which show her wearing a Diadem, earrings and a necklace.

The Royal Mint produced 853,875,418 One Pound coins using the Third Portrait (with necklace).

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13y ago

No. All British coins minted from 1985 to 1997 (Third portrait) show Queen Elizabeth II wearing a necklace and earrings. They are neither rare nor valuable.

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Q: Is the two pound coin with the chain around the queens neck work more money?
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