Gibraltar is a small British Overseas Territory located at the southern tip of the Iberian Peninsula, bordered to the north by Spain. Its currency is the Gibraltar Pound, which is locally interchangeable with the Pound Sterling, to which it is pegged at par; however, the Gibraltar Pound is legal tender only in Gibraltar and not in the United Kingdom.
The territory has also authorised some mints to issue commemorative and bullion coins under its jurisdiction. These latter are usually in standard bullion sizes, such as one ounce of silver - designated as 1 oz Ag, where Ag is abbreviated from Argentum, the Latin word for silver.
This design was announced as the first issue in the Gibraltar Royal Silver Ounce series, officially approved by the Gibraltar National Mint and Buckingham Palace.
The reverse features a Barbary Macaque, one of the symbols of Gibraltar. The Barbary macaque (Macaca sylvanus), also known as Barbary ape, is a species native to North Africa, which also has a small introduced population in Gibraltar, being the only population of wild monkeys in Europe. | 
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