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The Great Britain Proof Set of 1998 is an important and visually striking collector issue from the Royal Mint, featuring all the standard circulating coins of that year presented in stunning proof quality. This set marks a key moment in British numismatics, as it includes several design updates and captures the transition from older motifs to the modern coinage series that would follow into the 21st century. It is a popular addition to collections focused on British currency, proof issues, and milestone years from the reign of Queen Elizabeth II.
The 1998 proof set contains nine coins: the bi-metallic £2 coin (first introduced into circulation that year), £1, 50 pence, 20 pence, 10 pence, 5 pence, 2 pence, 1 penny, and the smaller 50 pence commemorative marking the 50th anniversary of the National Health Service (NHS). This combination gives the set added significance, as it not only represents the complete range of circulating denominations but also includes two coins of particular interest to collectors—the first circulating £2 and the special commemorative 50 pence.
The obverse of each coin features the portrait of Queen Elizabeth II by Ian Rank-Broadley, introduced in 1998 to replace the Raphael Maklouf effigy that had been in use since 1985. The Rank-Broadley design presents the Queen in a more realistic and less stylized manner, facing right and wearing the Girls of Great Britain and Ireland Tiara. The surrounding legend reads “ELIZABETH II D·G·REG·F·D” (By the Grace of God, Queen, Defender of the Faith) along with the denomination or year, depending on the coin. In proof format, the Queen’s portrait is crisply detailed with frosted reliefs set against deep mirror-polished fields.
The reverse designs include:
All coins are struck in their standard circulating metals—bi-metallic for the £2, nickel-brass for the £1, cupronickel for the silver-colored denominations, and copper-plated steel or bronze for the smaller coins. However, their proof striking dramatically elevates their appearance. Each coin features multiple strikes from polished dies on specially prepared planchets, producing razor-sharp details, mirror-like fields, and frosted devices that distinguish them from uncirculated or circulated coins.
The 1998 proof set was issued in an elegant Royal Mint presentation case with a clear, hard plastic display holder. A colorful outer box, often with thematic artwork, and a detailed information booklet or certificate of authenticity accompanied the set, providing specifications, historical background, and designer credits. Collectors place a premium on sets that remain complete with all original packaging and documentation, as these enhance both the display value and the long-term collectibility.
The total mintage for the 1998 proof set was limited, adding scarcity to its appeal. As a result, it continues to be in steady demand on the secondary market, especially because of the key first-year circulation £2 coin and the NHS commemorative 50p—both highly regarded in British numismatic history. The inclusion of the new Rank-Broadley portrait further elevates the set, as it represents a notable transition in the obverse design of British coinage.
Condition-wise, proof sets from this period are expected to be in pristine or near-pristine condition if kept in their original packaging. The coins should display full mirror fields, deeply frosted reliefs, and no signs of toning, hazing, or handling. Sets submitted for third-party grading often achieve high proof designations (PF68 or PF69), confirming the Royal Mint’s outstanding quality control and the care typically taken by collectors in storing these sets.
Thematically, the 1998 proof set bridges Britain’s past and future—celebrating national institutions like the NHS, recognizing England’s heraldic symbols, and introducing modern motifs reflecting technological progress. For collectors assembling a run of British proof sets, the 1998 edition is essential both for its landmark £2 issue and for the introduction of the updated Queen’s portrait, marking it as a pivotal year in recent numismatic history.
In summary, the Great Britain 1998 Proof Set offers a richly symbolic and beautifully crafted snapshot of Britain’s currency at the threshold of the new millennium. With its exceptional proof finish, inclusion of first-year and commemorative coins, and representation of evolving portraiture and design, it remains a cherished and essential addition to British coin collections, blending artistry, history, and modern minting excellence.