Answer by taking a quote from the following article:

Coil were an English experimental music group, founded in 1982 by John Balance in London. Initially envisioned as a solo project by lead singer and songwriter Balance (born Geoffrey Burton) while he was in the band Psychic TV, Coil evolved into a full-time project with the addition of keyboardist Peter Christopherson--former member of seminal industrial band Throbbing Gristle who became Balance's creative and personal partner. Throughout the group's existence, Balance and Christopherson have been the only constant members; others members and contributors include, among others, Stephen Thrower, Danny Hyde, Drew McDowall, William Breeze, Thighpaulsandra (Tim Lewis), and Ossian Brown (Simon Norris). After the release of their debut extended play, titled How to Destroy Angels, Coil joined Some Bizzare Records, through which they released two full-length albums, Scatology (1984) and Horse Rotorvator (1986).

In 1978, John Balance (born Geoff[rey] Burton; also known as Rushton, by his stepfather's surname) was a teenage zine journalist, writing--along with his schoolmate Tom Craig, the grandson of an artist Edward Carrick--under a moniker Stabmental, through which he published the articles on UK underground artists, including seminal industrial bands Throbbing Gristle and Cabaret Voltaire. A Throbbing Gristle fan, Balance had contacted them via mail, and thus befriended the Throbbing Gristle' frontman Genesis P-Orridge. In February 1980, Balance had attended a Throbbing Gristle gig recorded for the album Heathen Earth, where he had first met P-Orridge's bandmate Peter "Sleazy" Christopherson and befriended him as well.  Following the dissolution of Throbbing Gristle in 1981, P-Orridge, Christopherson, and Alex Fergusson (formerly of Alternative TV) went on to form the new project, titled Psychic TV, along with the accompanying fellowship titled Thee Temple ov Psychick Youth. Balance, who had attended the University of Sussex for a short time and participated in Brian Williams' Lustmord project, returned in London to live with Christopherson--with whom a romantic partnership had begun. As Psychic TV member, Balance participated in the recording of the single "Just Drifting" (from the album Force the Hand of Chance) and, the following year, of the album Dreams Less Sweet.  Already having an experience of performing and recording previous to his tenure in Psychic TV, Balance went on to use the name Coil in 1982, originally envisioned for the solo project. In 1983, Balance wrote a manifesto titled The Price Of Existence Is Eternal Warfare and sent a tape of the song "On Balance", dated 5 May 1982, to Gary Levermore's label Third Mind Records for an inclusion on a compilation album Rising From The Red Sand; Levermore, however, had rejected the track. Despite this, Balance had recorded three more new tracks--"S for Sleep", "Red Weather", and "Here to Here (Double Headed Secret)"--on 11 May 1983. On 4 August 1983, Coil--as the duo of Balance and Christopherson--had played its first gig in London at the Magenta Club, during a screening of films by Cerith Wyn Evans and Derek Jarman. Since Christopherson's commitments for Psychic TV--in which he had became disillusioned due to growing conflict with P-Orridge--still limited his participation in Coil, Balance appoached John Gosling--also Psychic TV member who fronted his own project Zos Kia--to work with. Balance's and Gosling's collaboration resulted in the next three gigs during 1983, with the last one being performed in December on Berlin Atonal festival, where Balance participated as both Psychic TV and Coil member. The recordings from aforementioned gigs, as well as "On Balance", were later included on Zos Kia/Coil split album Transparent, released in February 1984 by Austrian label Nekrophile Records. Since January 1984, Balance and Christopherson had departed from Psychic TV and the Temple of Psychic Youth, in order to make Coil as a full-time concern.

When was the band formed?