Like many other mints, the Royal Mint issues bullion coins in precious metals, having much higher intrinsic value than their face value. The five ounces (5 oz) gold coins are denominated as either ten pounds (£10) or five hundred pounds (£500).
The coins are legal tender but are not intended for circulation. They are targeted at bullion investors or collectors who appreciate the special editions as pieces of art. The coins are typically "one-year" types usually issued in parallel with smaller denominations with the same reverse designs.
This coin commemorates the bicentenary (200th anniversary) of the death of King George III, one of the longest-ruling British monarchs.
King George III came to the throne in 1760, the first Hanoverian monarch to be born in Britain and speak English as a first language. He reigned for 59 years in Britain, during a period of industrial and agricultural growth. He was the first king of the United Kingdom and the last king of what is now the United States. He was a symbol of stability during a time of great change for the region, and his multi-faceted nature is reflected in the coin's design.
As the designer Dominique Evans mentions, it was important to "add symbolism reflecting the life of a king and mind of a man who was dedicated to discovery and progress" to the coin's design. She says about her design:
"I have placed George III at the centre of the coin design in a pose reflecting the iconic bull head portrait [by Benedetto Pistrucci], that I, like many, greatly admire. Surrounding George III’s head are the symbols of his kingdom of Great Britain and Ireland, framed by his crown. I felt it important to add symbolism reflecting the life of a king, a man who was dedicated to discovery and progress. From science to agriculture and industry George III left a legacy that has been built on and we benefit from today.” | 
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