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2003 was a year of renewal for the coins of St Helena and Ascension, and this 50 pence comes from the first year of the new, smaller format.
Since 1984 the islands had used a seven-sided 50 pence measuring 30 mm; in 2003 the coin kept its seven sides but shrank to a far handier 27.3 mm. The same year a bimetallic two pounds bearing the arms of St Helena entered circulation, so the island series was refreshed at both ends at once.
The reverse design moved to the new coin unchanged: Michael Hibbit’s green sea turtle above the value «50 FIFTY PENCE». The obverse shows Raphael Maklouf’s portrait of Elizabeth II with the legend «QUEEN ELIZABETH II RDM ST. HELENA + ASCENSION». The Krause catalogue lists the type as KM# 27.
AU-UNC condition sits between About Uncirculated and Uncirculated: the highest points of the relief may show the faintest rub, while the mint lustre is almost fully preserved. In a date run of St Helena it is the first year of the new type.
Collecting a date run? Look for the neighbouring years of this type in the VPcoins catalogue.