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 silver coins are denominated as Five Hundred Pounds (£500), 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 one kilogram silver coin celebrating British artist Paul McCartney is part of the ninth release in the Music Legends coin series by the Royal Mint.
The mint says:
Paul McCartney is one of the most successful and enduring British musicians of all time. An undisputed icon of popular culture, his ever-expanding legacy includes countless hits, a long list of industry accolades and critical acclaim on a global level.
From his pioneering work with The Beatles in the 1960s to his time in Wings and his continued global success as a solo artist, Paul McCartney is thriving in today’s ever-changing musical landscape, performing to generations of fans at sold-out concerts around the world.
Despite his revered status in the world of music and pop culture, this is the first time McCartney has been honoured with a UK coin from The Royal Mint. In 2021, following a medallic collaboration with the Royal Mail, steps were taken to commemorate Paul McCartney’s musical talents when we reached out to his team. From there, discussions were held, concepts and designs were broached, and the wheels were soon in motion to turn this idea into a reality.
Naturally, condensing such an incredible career into one coin-sized image would be a sizeable task for any artist, yet one that design agency Osborne Ross took in their stride. A numismatic tribute to this national treasure, the reverse of the Paul McCartney 2024 UK Coin features richly detailed hallmarks of the musician’s peerless career. | 
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