Five Pounds 2023 Myths and Legends - Merlin, Coin from United Kingdom - detailed information

At the time of decimalisation in 1971, the United Kingdom Crown coin (equal to 5 shillings) was redenominated as a 25p coin and pieces struck prior to 1990 - all the way back to 1818 - continue to be legal tender for that amount. The old denomination had been a regular circulating coin in the 19th century, but in the 20th century it became more of a commemorative denomination.

The Royal Mint continued issuing commemorative coins in the same format - using the traditional coin dimensions, but in copper-nickel. These were initially also denominated as 25 pence but the "Crown" was changed in 1990 to a commemorative £5 (five pound) coin, having the same dimensions and weight but with a face value twenty times as great.

The denomination is used to mark special occasions, usually royal in theme, rather than for use in general circulation. Although not circulating, these coins are legal tender.

This is the second design in the second part of the Myths and Legends range of coins by the Royal Mint, and the second in the range to be issued in a non-bullion format; it features legendary wizard Merlin.

The mint says about it:
The second commemorative coin in our Myths and Legends Collection pays tribute to Merlin, the prophetic sorcerer and trusted adviser to King Arthur. David Lawrence’s design captures Merlin with an owl perched on his shoulder, which represents knowledge and wisdom, whilst the wizard clutches a magical staff.