2 Pounds - Elizabeth II 3rd portrait; Technology

Issued as part of the Annual Coin Sets for 1997, in both Brilliant Uncirculated (109,557 sales) and Proof versions, while also issued in an individual BU pack (no sales data). The coin was also struck in silver proof, silver piedfort and gold proof.

The planned circulation date was November 1997 but had to be postponed until the 15th of June 1998 following a problem with the 'electronic signature' of the coin. 

Below the Press Release from the Royal Mint's website in 1998.
 

'Countdown for the £2 circulating coin:

launch date imminent

The introduction of the first British bi-colour coin - the new £2 - will take place on Monday 15 June 1998.

At a meeting with representatives of the vending industry, the Royal Mint reported on the success of a series of tests. These have been carried out since the £2 coin's original launch date of November 1997 was postponed because of a potential problem with the 'electronic signature' of the coin in vending and other machines, particularly older models. (Vending machines incorporate electronic sensors which check not just a coin's physical dimensions but also the metal composition by measuring its resistance to an electric current - this is known as the 'electronic signature.)

The Royal Mint has now overcome these initial problems by minor adjustments in the production process. As a result the £2 coins can be produced which are expected to achieve high levels of acceptance in the vending, gaming and pay phone machines which were pre-set by some of the mechanism manufacturers last summer.

Mr Roger Holmes, Deputy Master of the Royal Mint, said that the Royal Mint was pleased that its continuing work in close co-operation with the vending industry had enabled it to overcome the problems. "We are looking forward now to seeing this outstanding new coin in circulation later this year," he added.

Fifty representatives of the coin mechanism manufacturers and vending operators who attended the meeting welcomed the Royal Mint's announcement.'