Does a milled coins have ridges?
Yes - the ridges are called milling, or reeding.
Many coins have a milled edge. The practice began hundreds of years ago to prevent people from scraping precious metal off the edges of coins. These days, the milled edge is mostly decorative since there are no circulating coins made from precious metals. The British One Pound coin has a milled edge and usually has an inscription on the edge - "DECUS ET TUTAMEN" meaning, "An ornament and a safeguard". This refers directly to the…
All British 5 Pence coins have a milled edge. The larger pre-1991 5 Pence coins were withdrawn from circulation and demonetised in 1991. 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 have little or no value.