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It very possibly is illegal as most countries do not like people modifying their currency. I very cautiously suggest that if you are doing it once for personal use and with a low denomination coin, they will possibly not view it too seriously.

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Q: Is it illegal to make a 50 pence coin into a ring?
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Where can one purchase vintage coin rings?

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The British 20 Pence coin was first issued in 1982, and general circulation coins have the following specifications - 20 Pence - 21.4 mm diameter, 1.7 mm thick, weigh 5 grams and are made from 84% copper and 16% nickel, and are seven sided or heptagonal. The edge is plain. The British 20 Pence coin has maintained the same specifications since its first issue.


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