Elizabeth II, £1 1983 (the first) Piedfort Silver Proof

In 1983 The Royal Mint issued Britain’s first ever non gold pound coin. It was struck in a Tombac type yellow metal. For collectors they struck a small number in Proof Sterling Silver. For more serious collectors they struck an even smaller number in Piedfort Sterling Silver, twice the thickness of a normal coin, twice the silver. Demand, especially in the Far East caused their price to go through the roof. At one time the Piedfort was wholesaling for £220 each. Now prices have come down to a more realistic level and now it might be worthwhile to add one to your collection.