2015 Battle of Waterloo Gold Proof £5 Coin NGC PF70 Ultra Cameo
£5,995.00
The 2015 Battle of Waterloo Gold Proof £5 was issued by The Royal Mint to commemorate the 200th anniversary of one of the defining battles of European history. Although the Maximum Coin Mintage was limited to 500, official Royal Mint sales records show that just 273 individual Gold Proof coins were sold. This example is certified NGC PF70 Ultra Cameo – the highest numerical Proof grade – with an exceptionally low NGC population of just 2 at the time of checking.
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Description
2015 Battle of Waterloo Gold Proof £5 Coin NGC PF70 Ultra Cameo
The 2015 Battle of Waterloo Gold Proof £5 is a low-mintage British commemorative gold coin issued by The Royal Mint to mark the 200th anniversary of the Battle of Waterloo.
Fought on 18 June 1815, Waterloo brought Napoleon Bonaparte’s return to power to an end and became one of the defining military engagements of nineteenth-century Europe.
The Royal Mint issued the commemorative £5 coin two centuries later, with a reverse designed by David Lawrence depicting the Duke of Wellington and Prussian commander Gebhard Leberecht von Blücher following the Allied victory.
The Royal Mint established a:
Maximum Coin Mintage of 500
for the Gold Proof edition.
Importantly, The Royal Mint’s subsequently published official 2015 commemorative coin sales figures record only:
273 individual Gold Proof coins sold
making the recorded sales substantially lower than the original maximum permitted mintage.
This particular example has been independently authenticated and certified by Numismatic Guaranty Company (NGC) as:
PF70 Ultra Cameo
the highest numerical Proof grade.
At the time of checking on 13 August 2026, the NGC certification record supplied for this coin shows just:
2 examples in PF70 Ultra Cameo
with no examples graded higher, making this an NGC Top Pop coin.
The coin is also accompanied by its original Royal Mint presentation box and Certificate of Authenticity.
Why This Coin Stands Out
The 2015 Battle of Waterloo £5 combines an important British historical subject with low Royal Mint sales and an exceptionally small certified population at the highest NGC grade.
The Royal Mint originally limited the Gold Proof issue to:
Maximum Coin Mintage: 500
However, The Royal Mint’s official 2015 sales figures subsequently recorded:
Individual Gold Proof coins sold: 273
This distinction matters.
The figure of 500 represents the maximum number permitted for the issue, whereas 273 is The Royal Mint’s recorded sales figure for the individual Gold Proof coin.
This particular example then adds another layer of scarcity through its certification.
At the time of checking:
NGC PF70 Ultra Cameo Population: 2
Higher Grades: 0
NGC Top Pop
That combination of low Royal Mint sales, perfect-grade certification and an extremely small NGC PF70 population makes this a particularly notable modern British commemorative Proof.
Specifications
- Year: 2015
- Country of Issue: United Kingdom
- Denomination: £5
- Issuing Authority: The Royal Mint
- Metal: Gold
- Fineness: 916.7 / 22 carat
- Weight: 39.94g
- Fine Gold Content: Approximately 1.177 troy oz
- Diameter: 38.61mm
- Quality: Proof
- Maximum Coin Mintage: 500
- Royal Mint Recorded Sales: 273 individual Gold Proof coins
- Obverse Designer: Jody Clark
- Reverse Designer: David Lawrence
- Edge Inscription: THE NEAREST RUN THING YOU EVER SAW
- Grading Company: NGC
- Grade: PF70 Ultra Cameo
- NGC PF70 Ultra Cameo Population: 2
- Higher Grades: 0
- Population Status: Top Pop
- Population Checked: 13 August 2026
- Presentation: Original Royal Mint box and Certificate of Authenticity
The Royal Mint confirms the issue as a 22-carat Gold Proof £5 with a Maximum Coin Mintage of 500. Its official commemorative coin sales records show 273 individual Gold Proof coins sold.
The 39.94g weight, 38.61mm diameter and 916.7 fineness are also independently corroborated.
Only 273 Individual Gold Proof Coins Recorded as Sold by The Royal Mint
One of the most significant characteristics of this coin is the difference between its maximum mintage and its recorded sales.
The Royal Mint originally specified:
Maximum Coin Mintage: 500
Its official 2015 commemorative coin sales records subsequently show:
Battle of Waterloo 2015 UK £5 Gold Proof Coin: 273 units
For accuracy, Sterling Bullion Partners distinguishes between these two figures rather than describing 273 simply as the coin’s “mintage”.
The correct terminology is:
Maximum Coin Mintage: 500
Official Royal Mint Recorded Sales: 273 individual Gold Proof coins
This provides a more precise picture of the issue than relying on the original maximum alone.
Why NGC PF70 Ultra Cameo Matters
This example has been independently authenticated, encapsulated and graded by Numismatic Guaranty Company (NGC) as:
PF70 Ultra Cameo
PF70 represents the highest numerical Proof grade on NGC’s 1-to-70 grading scale. NGC describes a grade of 70 as requiring no post-production imperfections visible at 5× magnification.
The additional:
Ultra Cameo
designation describes the strong contrast between the deeply mirrored fields and heavily frosted design elements on both sides of a Proof coin.
For a low-issue commemorative gold coin such as the Waterloo £5, certification at this level separates this example further from ungraded examples of the same issue.
NGC Population
At the time of checking on 13 August 2026, the NGC certification record supplied for this coin shows:
- NGC PF70 Ultra Cameo: 2
- Higher Grades: 0
- NGC Top Pop
This is an exceptionally small certified population.
The NGC population should not be confused with the Royal Mint issue figures.
The Royal Mint figures establish the maximum permitted mintage and the number subsequently recorded as sold, whereas the NGC population records how many examples have been submitted to NGC and certified at a particular grade.
For this coin, those figures currently provide three distinct measures:
Maximum Coin Mintage: 500
Royal Mint Recorded Sales: 273
NGC PF70 Ultra Cameo Population: 2
Population figures can change as additional coins are submitted for certification, which is why Sterling Bullion Partners records the date on which each population figure is checked.
The Battle of Waterloo Design
The reverse was designed by David Lawrence specifically for the bicentenary of the Battle of Waterloo.
Rather than depicting the battle simply as a military confrontation, Lawrence’s composition focuses on the alliance that ultimately defeated Napoleon.
The design is an adaptation of Daniel Maclise’s The Meeting of Wellington and Blücher after the Battle of Waterloo and depicts the two Allied commanders following the victory.
The inscription:
THE BATTLE OF WATERLOO
appears around the upper portion of the design, while:
1815
appears prominently beneath the scene.
The Royal Mint describes Lawrence’s design as capturing the moment of accord between Wellington and Blücher following the Allied victory.
The edge carries the inscription:
THE NEAREST RUN THING YOU EVER SAW
This quotation is traditionally associated with Wellington’s assessment of the battle and adds another distinctive element to the commemorative design.
The Jody Clark Fifth Portrait
The obverse of this particular coin carries the fifth definitive coinage portrait of Queen Elizabeth II by Jody Clark.
This is particularly relevant to the 2015 issue.
Clark’s fifth definitive portrait was introduced in 2015, making Waterloo one of the commemorative issues produced during the transition to the new effigy.
The NGC certification label specifically identifies this example as:
200TH ANNIV – 5TH PORTRAIT
providing an additional numismatic identifier for this particular version.
The obverse inscription surrounds Clark’s portrait of Queen Elizabeth II, with the £5 denomination incorporated into the legend.
The Bicentenary of Waterloo
The Battle of Waterloo was fought on 18 June 1815 near Waterloo in present-day Belgium.
The battle brought together Allied forces commanded by the Duke of Wellington and Prussian forces under Marshal Blücher against Napoleon Bonaparte.
Napoleon’s defeat ended his Hundred Days return to power and brought the Napoleonic Wars to their decisive conclusion.
Two hundred years later, The Royal Mint commemorated the event with this special £5 issue, describing Waterloo as a decisive event in British, European and world history.
The historical significance of the subject gives the coin appeal beyond conventional modern gold collecting, extending into British military, Napoleonic and commemorative numismatics.
Struck in 22-Carat Gold
The Battle of Waterloo £5 Gold Proof was struck in traditional:
916.7 fine / 22-carat gold
The coin weighs:
39.94g
with an approximate fine gold content of:
1.177 troy ounces
Its specifications are:
Metal: Gold
Fineness: 916.7 / 22 carat
Weight: 39.94g
Fine Gold Content: approximately 1.177 troy oz
Diameter: 38.61mm
Quality: Proof
Maximum Coin Mintage: 500
Royal Mint Recorded Sales: 273 individual Gold Proof coins
The Royal Mint confirms the Gold Proof format and 500 Maximum Coin Mintage, while the physical specifications are independently corroborated by established UK bullion dealers.
Proof Coin Versus Bullion Coin
Although the 2015 Battle of Waterloo £5 contains more than one troy ounce of fine gold, this particular example should not be viewed simply as a bullion coin.
It is a purpose-struck British commemorative Proof with a Maximum Coin Mintage of only 500 and Royal Mint recorded sales of just 273 individual Gold Proof coins.
Proof coins are specially produced for collectors. NGC explains that traditional Proofs typically combine polished, mirrored fields with frosted design elements, creating the cameo contrast associated with high-quality Proof coinage.
Its historical subject, low issue figures, PF70 Ultra Cameo certification and NGC population of just two give this example a clear numismatic dimension beyond the intrinsic value of its gold content.
A Modern British Numismatic Gold Coin
The 2015 Battle of Waterloo Gold Proof £5 brings together several characteristics sought by collectors of modern British gold:
the bicentenary of one of Britain’s most historically significant military victories;
a Maximum Coin Mintage of just 500;
official Royal Mint recorded sales of only 273 individual Gold Proof coins;
Jody Clark’s fifth portrait of Queen Elizabeth II;
David Lawrence’s Waterloo commemorative reverse;
and certification at NGC’s highest numerical Proof grade.
Most significantly, the certification record supplied for this particular coin shows an NGC PF70 Ultra Cameo population of only:
2 coins
at the time of checking.
Combined with its original Royal Mint box and Certificate of Authenticity, this represents a particularly scarce certified example of the 2015 Waterloo Gold Proof £5.
Image Information
The slab images shown are digitally produced representations for presentation purposes, with certification numbers and barcodes omitted where applicable.
The close-up coin photographs show the actual coin offered for sale.
The coin is supplied with its original Royal Mint presentation box and Certificate of Authenticity.
Why Buy from Sterling Bullion Partners?
Every certified coin offered by Sterling Bullion Partners is carefully selected for its quality, authenticity and collector appeal.
When purchasing from Sterling Bullion Partners, you benefit from:
- Carefully selected certified coins
- Independently authenticated and professionally graded examples
- Detailed photographs of the actual coin offered for sale
- Fully insured UK delivery
- Secure protective packaging
- Experienced customer support
- A UK precious metals dealer committed to accuracy and transparency
With just 273 individual Gold Proof coins recorded as sold by The Royal Mint, certification at NGC PF70 Ultra Cameo, an NGC population of only 2, and its original Royal Mint box and Certificate of Authenticity, the 2015 Battle of Waterloo Gold Proof £5 represents an exceptional certified example of this historically significant British commemorative issue.
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