The reverse, designed & engraved by T.H. Paget, features the bust of George the VI facing left. At the bottom of Georges neck are the designer’s initials “MP”. On the outer periphery are the words "GEORGIVS VI D:G : BR: OMN: REX".
The obverse, designed & engraved by W G. E. Kruger-Gray, features a crown tudor rose. To the right of the rose is a shamrock with the mongram “R” below. To the left of the rose is a thistle with the mongram “G” below. Flanking either side of the stem of the rose are the designers initials “K” and “G”. On the upper outer periphery are the words “:FID: DEF: : IND: IMP:”. On the lower outer periphery is the denomination “TWO SHILLINGS” and the date.
In 1947 India received its independence, so "IND IMP" (India's Emperor) had to be removed from coinage. Beginning in 1949, new coins were issued without the “IND IMP”.
Variety 1 1937-1948 - Old obverse legend
Variety 2 1949-1951 - New obverse legend
General Market Notes
For years that may be potential sleepers look at the 1937, 1940 and 1946 issues. The 1937 is a first year issue and though the value may not rise dramatically there will probably be strong demand as it is the first year issue.
For the investor, the key to the series (excluding proofs & errors) is the 1938 issue.