Like many other mints, the Royal Mint issues bullion coins in precious metals, having much higher intrinsic value than their face value. The one ounce (1 oz) silver coins are denominated as either two pounds (£2) or five pounds (£5), depending on the occasion.
Initially, these were only of the Britannia type, but in 2015 the Royal Mint started to use the format for coins with other types of reverse designs, celebrating various aspects of British heritage.
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 is the first design in the Myths and Legends range of bullion coins by the Royal Mint.
The Mint says about the coin:
"Centuries after his tales were first told around British campfires and hearths, The Royal Mint is celebrating the legendary hero Robin Hood. The iconic character, who famously stole from the rich to give to the poor, appears on the first coin in a new bullion collection inspired by myth and legend. The hero of folklore will soon be followed by two more coins inspired by the tale, featuring the courageous heroine Maid Marian and Robin Hood’s trusted companion Little John.
Passed along through the oral traditions of the time, stories of this heroic rebel have been spread far and wide since the fourteenth century. Robin Hood was often described as a great archer, and Jody Clark’s depiction of the character features him hidden amongst the branches of Sherwood Forest, poised with a bow and arrow ready for action." | 
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