If it is blank on both sides, it is probably not much more than a curiosity, since that is how the Mint gets them.
If it is blank on one side, it may have some value, again as a curiosity. Somebody might collect them.
£2
A 1889 gold 5 pound coin is worth 5 pounds of gold, while a 1889 2 pound gold coin is only worth 2 pounds of gold.
I suggest you get a good coin book and search for your coin in there.
An "R" stamped in the middle of the Queen's head is not part of the design feature of any coin in any year. As long as the coin is recognisable as Two Pound coin, it is worth Two Pounds.
It is a common coin, worth a pound or two if in perfect condition.
There is a one pound coin and a two pound coin but not a three pound coin.
A Two Pence coin weighs 7.12 grams. There are 50 Two Pence coins in a Pound. One Pound worth of Two Pence coins weighs 356 grams.
All British decimal Two Pound coins are still legal tender. They are worth Two Pounds. If you have a mint uncirculated or Proof coin still in its packaging, you could sell it on eBay or take it to a reputable coin dealer.
It's still worth two pounds, which converts to $3.41 in US dollars (as of 21 July 2014).
A bi-metallic coin is a coin which is made using two distinct pieces of metal. In most cases this comprises of a metal disc surrounded by a ring of different colour alloy. All British two pound coins minted for circulation since 1997 are bi-metallic. Since these are a current and common coin they are only really worth face value. There have been a number of commemorative two pound coins minted since 1997 but even these will not be worth much more than their face value. Two pound coins minted before 1997, which use the same nickel-brass alloy as the standard pound coin, were never mass produced for circulation and these coins are often sold to collectors at a premium.
There was no British 1901 Two Pound or Double Sovereign coin produced.
Any bank will accept any Two Pound coin, they are legal tender.