Bank marks 300th birthday

(First Edition)

THE Chancellor, Kenneth Clarke, yesterday launched a commemorative pounds 2 coin was launched today by Chancellor Kenneth Clarke to to mark the Bank of England's 300th birthday.

It is available at its face value from most banks and post offices, and although nationwide. It is not intended for general circulation it but is legal tender.

The coin features the Queen on the front. On the back there is and a design incorporating the crown and cypher of King William and Queen Mary who granted the bank's Royal Charter with Britannia looking at a pile of money above the words Bank of England.

The edge of the coin, struck by the Royal Mint in the same nickel-brass alloy as the 1 coin, is inscribed Sic Vos Non Vobis thus your labour, but not for yourselves which was the motto of William Paterson, an entrepeneur closely associated with the establishment of the Bank.

Mr Clarke, launching the coin at the Bank's museum, said: 'The development of the 2 coin typifies the cooperation that has existed between the Bank of England and the Royal Mint over the centuries, which I am sure will continue.'

Eddie George, governor of the Bank, whose money-making role is confined to banknotes, said it set a 'seal on a partnership what has endured for the best part of three centuries'.

The coin is only the third issue of base metal 2 coins. The first, in 1986, marked the Commonwealth Games, and the second, in 1989, commemorated the tercentenary of the Bill of Rights.

Other 2 coins, always in gold, have been issued since the early 19th Century.

(Photograph omitted)