The new type of £2 coin was introduced in 1997 and featured an innovative bi-metallic design - the first in the history of British coinage. The concentric circles on this design by Bruce Rushin represent mankind's technological evolution from the Iron Age at the centre, to the cogs and wheels in the first ring representing the Industrial Revolution. The next ring symbolises the computer age with a pattern derived from a silicon chip and the final outer ring represents the age of the Internet with a connecting web of lines.
 
The outer edge contains the quote 'STANDING ON THE SHOULDERS OF GIANTS' which is often attributed to Isaac Newton. 
 
This design was used  on £2 coins every year from 1997 to 2015, when the Britannia design was introduced. 
 
This is the BUNC version of the coin taken from an annual set. 
 
Obverse: Ian Rank-Broadley Queen Elizabeth Portrait
Reverse - bi-metallic design as above.