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No British decimal general circulation coin has any gold or silver content.

Since the Great Recoinage Law of 1816, all gold coins including the Five Pound, Two Pound, Sovereign and Half-Sovereign coins were made to a fineness of 22 carat or 91.67% gold. Since decimal currency was introduced, these gold coins are non-circulating legal tender made for collectors and investors.

Silver coins were traditionally 92.5% (0.925 fineness) silver until the end of the First World War and the spiralling price of silver. From 1919, all silver coins were produced with 50% (0.5000 fineness) silver until 1946. From 1947 onwards, due to Britains need to repay war loans to the USA, there was no silver in any British general circulation coin. These days since the introduction of decimal currency, there is a range of non-circulating legal tender silver coins with a silver content varying from 0.925 to 0.990 (pure silver) depending on the coin concerned.

There is also a further range of high value Bullion coins of a gold and silver alloy. These are made from 22 carat (91.67% gold) and mostly silver for the rest.

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