Silver Ounce 2024 The Lion and The Eagle, Proof, Coin from United Kingdom - detailed information

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 coin is part of a series designed by John M. Mercanti, who was the 12th Chief Engraver of the United States Mint from 1991 until his retirement in late 2010.

The Royal Mint says about the series:
"Potent symbols of courage, strength and freedom, the British lion and the American eagle characterise the spirit of each nation. Richly historic and instantly recognisable, together they represent the shared values and enduring relationship between two countries that have traditionally stood shoulder to shoulder."

The design was first issued in 2023 in proof grade, and was re-issued in 2024 with a "reverse frosted" proof finish - mirror polished designs on frosted background. The 2024 issue also features a privy mark on the reverse.