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 John Lennon is part of the tenth release in the Music Legends coin series by the Royal Mint.
The mint says: The new coin celebrating Lennon’s life and record-breaking career as an artist coincides with the year in which he would have celebrated his 85th birthday. The coin’s design features a portrait of John Lennon and is based on an image taken by Bob Gruen - one of the most respected photographers in the music industry. It depicts a side profile shot of Lennon, taken on the roof of his penthouse in New York City.
Experienced coin designer Henry Gray incorporated the portrait of Lennon to feature at the centre of the coins design. John Lennon’s name appears to the left of the portrait, while the word "Imagine" features on the right side of the design - a special nod to the artist’s single and album.
As a founder of The Beatles and also a solo artist, Lennon has won seven Grammy Awards, including two Lifetime Achievement Awards, Five BRIT Awards including two Special Awards for Outstanding Contribution to Music, 21 NME Awards, 15 Ivor Novellos and an Oscar (Academy Award). He has been inducted into the Rock and Roll Hall of Fame and the Songwriter’s Hall of Fame, and has a star on the Hollywood Walk of Fame. In 2008, Rolling Stone ranked Lennon in the Top 5 of the magazine’s “100 Greatest Singers Of All Time”. |