Coins used to be just a form of payment, and as such coins were minted in huge numbers. In recent years, especially since the 1960s, many countries have started to mint commemorative coins. As the name suggests, commemorative coins are coins minted to commemorate people or events.

In the broadest sense there are two types of commemorative coins minted by national mints. Those known as circulating commemoratives, those coins that will go into circulation, and will thus appear in the pockets and wallets of the general public. The second type of commemorative coins are non-circulating legal tender, and again as the name suggests these coins whilst being legal tender in shops, are primarily designed to be souvenirs, and as such come in special presentation packs.

Modern commemorative coins as minted in the United Kingdom have in the main been produced since 1990. The main non-circulating legal tender commemorative coins have been produced with a denomination of five pounds, with one or two coins minted in most years. The majority of these coins have been minted to remember royal events, in including the 2003 5oth Anniversary of the Coronation coin, and the 2008 60th Birthday of Prince Charles. There have also been other non-royal events commemorated including the 2005 Bicentenary of the Battle of Trafalgar and a second commemorative coin recognising Admiral Horatio Nelson.

Today the two pound coin is a circulating commemorative coin, and can be commonly found, prior to 1996 though two pound coins were similar to five pounds and not designed for circulation. Most two pound commemorative coins minted have recognised national events like the 2007 Bicentenary of the Abolition of the Slave Trade; sporting events like the 1999 Rugby World Cup; and people like the 2006 coins recognising Isambard Kingdom Brunel.

The fifty pence piece commemorative coins have always been designed to be part of the circulating currency of the United Kingdom, although gift sets are produced. Of no particular value these coins are commonly found in the change received from shops, although there are a couple of favourite coins amongst the general public. Some of the most notable being the 1994 D-Day 50th Anniversary and the 2007 Centenary of the Scout Movement.

Proof sets of all commemorative coins can be purchased direct from the Royal Mint and many post offices. Specially produced coins are also minted in 22 carat gold and sterling silver. Indeed one of the most popular of Royal Mint commemorative coins is the five pound Henry VIII anniversary, a coin which in silver retails for almost three hundred pounds.

In the UK most proof coins minted in normal metals are generally sold at face value, with additional payment for postage and also souvenir packaging. As all UK commemorative coins are legal tender they will therefore not lose their value, although the fact that most people keep such coins in a mint condition meant that their value is also unlikely to increase greatly either. This being said most people collect commemorative coins for the enjoyment rather than potential financial gain.

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