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 design is the seventh release in a Royal Mint series dedicated to the history of British monarchy and the monarchs of England, Great Britain and the United Kingdom, and features King Charles II (1660 - 1685).
The Royal Mint says about it:
The latest monarch commemorated as part of our British Monarchs Collection is Charles II. Charles II’s restoration to the throne took place in 1660, more than 11 years after the execution of his father Charles I. Nicknamed the Merry Monarch, Charles II was one of the most popular British monarchs to grace the throne. The seventh coin in our British Monarchs Collection features a beautifully remastered portrait of Charles II. John Roettiers, originally from Flanders, designed the original portrait chosen to feature as part of the collection. | 
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