First World War Royal Navy £2 (2015)

Far fewer Royal Navy £2 coins were struck for circulation than Kitchener or Army coins, so even a worn example is worth more than face value. Condition still counts: a clear ship, a sharp seaplane and unworn lettering all add to the price. The fourth-portrait coin from the packs is collected as its own version, and those still sealed in their brilliant uncirculated packs sell for the most.

With 650,000 struck for circulation, the First World War Royal Navy £2 is the fourth rarest of the 44 ranked £2 designs and has the 32nd lowest mintage of all 194 circulating UK designs. That puts it in the Rare band, for mintages 500,000 to 999,999.

The next rarer £2 is the Commonwealth Games, Wales £2, with 588,500 struck, and the next more common is the Commonwealth Games, England £2, with 650,500 struck.

Look for a battleship seen head-on through the waves, a seaplane at the upper left and 2015 at the bottom of the ring. Then check the portrait: coins from change have Jody Clark's fifth portrait, while those with Ian Rank-Broadley's fourth portrait come from brilliant uncirculated packs and sets. On some circulation coins a small flag seems to fly from the top of the mast. That comes from a cracked die, not a change to the design. The edge should read THE SURE SHIELD OF BRITAIN.

Known varieties of the First World War Royal Navy £2, all listed among the UK error coins and varieties:

• Fourth portrait: A 2015 Royal Navy £2 with the fourth portrait by Ian Rank-Broadley was sold only in brilliant uncirculated packs and sets; circulation coins carry the fifth portrait.
• Flag on the mast: Some circulation coins show a small flag at the top of the mast, caused by a cracked die rather than a change to the design.

The second coin in the Mint's run marking the centenary of the First World War honours the Royal Navy, then the most powerful navy in the world and Britain's main defence of its coastal waters against Germany. The military artist David Rowlands designed the reverse. A dreadnought battleship comes almost straight at the viewer, bow first, cutting through the waves, while a second warship sits on the horizon to the left. A seaplane flies over the battleship's starboard side and sea birds fly to port. The war dates arc over the top in the legend THE FIRST WORLD WAR 1914-1918, and 2015 sits at the bottom. The edge lettering reads THE SURE SHIELD OF BRITAIN. Brilliant uncirculated coins went on sale in December 2014 with Ian Rank-Broadley's fourth portrait of the Queen and were never issued into circulation. The coins struck for circulation carry Jody Clark's fifth portrait instead.

In the First World War set it followed the Lord Kitchener £2 of 2014 and came before the First World War Army £2 of 2016.