The phrase "VICTORIA DEI GRA BRITT REGINA FID DEF IND IMP" is mostly abbreviated from Latin. The literal definition is - "Victoria by the Grace of God, Queen of the British territories, Defender of the Faith, Empress of India". This expression and variations of it appear on the obverse of all pre-decimal coins of all British Empire/Commonwealth countries. The expression identifies the reigning Monarch of the period, in this case, Queen Victoria. It does not identify the country or the denomination of the coin. The equivalent phrase for Queen Victoria's successor, King Edward VII, is - "EDWARDVS VII DEI GRA BRITT OMN REX FID DEF IND IMP". The literal definition is - "Edward VII by the Grace of God, King of all the British territories, Defender of the Faith, Emperor of India". The phrase varies as the Monarch and the gender of the Monarch changes, and as the circumstances of the British Empire/Commonwealth changes.
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This Latin expression, or a variant of it, usually abbreviated, depending on the Monarch of the time and the state of the Empire/Commonwealth, appears on the coins of all British and most, if not all, British Commonwealth countries.
This particular variant - Dei Gratia Regina Fidei Defensor - means Elizabeth II, by the Grace of God, Queen, Defender of the Faith.
D.G. or DEI GRA or DEI GRATIA = by the Grace of God
REG. or REGINA = Queen
REX = King
F.D. or FID. DEF. (FIDEI DEFENSOR) = Defender of the Faith
Due to space restrictions on most coins, it most commonly appears as - ELIZABETH II D. G. REG. F. D.
It identifies the reigning Monarch of the British Empire/Commonwealth, not the coin or the country of origin.