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 formats used is the large two ounces of silver, abbreviated as 2oz Ag, where Ag comes from the Latin word for silver, Argentum. The coins are considered Non-Circulating Legal Tender (NCLT) because they are "premium" editions released at prices much higher than their bullion value.
It is usually said that 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 two-ounce size is equal to 10 pounds.
The mint says about this coin:
The Angel represents the first coin CIT has produced for the Isle of Man. Additionally, it is the first CIT release featuring Jody Clark’s Queen Elizabeth II effigy that replaced Ian Rank Broadley’s design, which adorned countless coins struck between 1998 and 2015. | 
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