This is an older, large-style 50 pence coin which circulated in Britain until 1997 (when a smaller, lighter coin was introduced). It's a worn example, but the first big 50p in my collection, and I paid around $2 US for it. The most common 50p pieces are dated 1969, as it was the first year the large coins were minted. (According to the Royal Mint, 188,400,000 50 pence pieces were produced that year.) Why? They were meant to replace the paper 10 shilling note prior to its withdrawal on "Decimal Day" in 1971. That's the reason the "New Pence" is seen atop seated Britannia, and the inscription would last until 1982, when it would be replaced by "Fifty Pence", as the English would now be accustomed to the new decimalized system of 100 pence in one pound versus the previous monetary standard of 240 pence in one pound. Interestingly enough, the coin is so thick that it stands on an edge!