UK to mint limited edition Buckingham palace coins

London: The UK's Royal Mint plans to issue a limited edition 100 pound coin featuring Buckingham Palace.

The 50,000 new legal tender coins with two ounces of fine silver are to be minted and will be made available at their face value price. The latest announcement follows the success of the first 100 pound coin featuring the Big Ben, which sold out within days in December.

Shane Bissett, director of commemorative coin and medals at the Mint, said: "Buckingham Palace is an instantly recognisable architectural icon for the millions of British citizens and tourists who have seen it in person or in pictures and on film.

"The building is an instinctive rallying point in the capital city during times of national celebration and mourning, and was a natural choice for the next design in the Royal Mint's popular 100 pound for 100 pound coin series."

George III bought Buckingham House in the heart of London in 1761 for his wife, Queen Charlotte, and work began the following year to remodel it. Later, George IV transformed the house into a palace. Architect John Nash set about realising the king's ambitious plans, but spiralling costs eventually cost him his job and King George never moved in.

Queen Victoria became the first sovereign to take up residence in 1837 - but when she married Prince Albert three years later, the shortcomings of her new home were highlighted. The Marble Arch was moved and nurseries and guest bedrooms were added.

Work continued and the palace was finally finished just before the outbreak of the First World War in 1914. It is now home to the current British monarch, Queen Elizabeth II, as her official London residence.