1994 Proof Two Pound Mule - PCGS PR69DCAM

Great Britain, 1994 Proof Two Pound Mule -

In 1994, the Royal Mint issued a two pound coin to celebrate the Bank of England’s three hundredth anniversary. The commemorative reverse was naturally a new design, but the obverse was also very different to the traditional double sovereign: The effigy was smaller, while the legend was in a different position; most noticeably, the coin’s denomination was written in full. Therefore, in 1994, when the Royal Mint erroneously issued a small number of two pound pieces struck with the double sovereign die (which did not bear the denomination) instead of the two pound die, a new mint error was born. Some of these errors were recalled, but a small number managed to escape into the market, where they trade today. Like all mule coins, the 1994 two pound muled with the double sovereign obverse is keenly sought-after, and with very few coins appearing on the market, they continue to trade at a large premium to the original issue price.