The Isle of Man has its own circulating coinage, which is used in parallel with the British Pound Sterling; it also issues an extensive range of commemorative coins for collectors, as well as bullion coins in a variety of formats and designs for investors in precious metals.
One of the sizes used is the internationally popular one tenth of a troy ounce (1/10oz) of gold format. An early design issued in this format was the Angel, depicting Saint Michael slaying the dragon. The original Angel was a gold coin introduced in England by King Edward IV in 1465 as a new issue of the Noble. Based on a French coin, the Angelot or Ange, its name was derived from the representation of the Archangel St. Michael. The image of the Archangel Michael slaying the dragon was thought to bring good luck and health and was traditionally given to sufferers of the disease the "King’s evil" or scrofula, in a medieval ceremony intending to cure them with the "royal touch".
It is usually said that modern Angels are legal tender but without a fixed face value, like the Krugerrand or Mexico’s Libertad which are legal tender to the value of their precious metal content. However, according to the various Currency Determinations by The Treasury of the Isle of Man authorising each issue, under section 6 of the Currency Act 1992, the "Angel" denomination is equal to 5 pounds in face value, with fractions or multiples divided or multiplied as required by the fraction or multiplier shown on the reverse of the coin - hence, the tenth-ounce has a nominal face value of 50 pence.
The mint says about this coin:
"For over 600 years, lucky British Angel coins have been treasured by millions. Medieval kings and queens often bestowed Angel coins on worthy subjects, and these coveted coins were believed by many to bring the bearer good luck, fortune, and were even thought to have cured sickness and saved lives."
The 2021 issue has two special privy marks which commemorate the 95th anniversary of the Queen, and 500 years of the "Defender of the Faith" title of the British monarch. | 
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