Like many other mints, the Royal Mint issues bullion coins in precious metals, having much higher intrinsic value than their face value. Most of these by tradition are measured in troy ounces of fractions thereof, but the mint also introduced metric coins measuring one kilogram of pure metal (they are actually fractionally heavier as a whole, to account for the small amount of other metal in the alloy).
The 1 kg gold coins are denominated as One Thousand Pounds (£1,000), although their intrinsic (bullion) value is much higher than their face value. The coins vary in design depending on the occasion (they are "one-year" types usually issued in parallel with smaller denominations with the same reverse designs).
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.
This commemorative 1 kg gold proof coin celebrates the 90th birthday of Queen Elizabeth II.
The Royal Mint says about the coin: "Her Majesty The Queen has celebrated many landmark moments during her long and eventful reign birthdays, jubilees and wedding anniversaries and we have enjoyed each happy occasion with her. Now we celebrate with the Royal Family once again as Queen Elizabeth II becomes the first British monarch to reach a 90th birthday. As this much loved public figure reaches another remarkable milestone, at The Royal Mint we are delighted to release a commemorative coin for the occasion. To wish Her Majesty every happiness as royal history is made, acclaimed artist Christopher Hobbs has turned to her love of flowers for inspiration, his design approved by The Queen herself. As this is a more personal occasion, the artist has filled the classical wreath with natural rather than heraldic roses, with each one different to the next." |