This two-coin set is part of a range of Royal Mint sets which include "historical" (i.e. not new) coins.
The mint says about it:
"We are proud to celebrate the royal relationship between His Majesty The King [King Charles III] and his mother, Her Late Majesty Queen Elizabeth II, with this two-coin 50p set. The Mother and Son Two-Coin 50p Set brings together the first 50p coins produced for the respective monarchs. It includes a 50p coin featuring the second definitive portrait of Queen Elizabeth II by Arnold Machin RA and a 2022-dated coin that features the first definitive portrait of King Charles III, designed by Martin Jennings.
This two-coin set also celebrates the story of the 50p, featuring the original size that was first introduced into United Kingdom coinage in 1969 for decimalisation in 1971. Both coins feature two iconic designs, comprising the classic Britannia as envisioned by Christopher Ironside, and the 1953 coronation reverse by Edgar Fuller and Cecil Thomas."
The 2022 coin is in Brilliant Uncirculated grade; the 1969 coin is circulated.