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 the second release in a Royal Mint series re-creating the old myth of Saint George slaying the Dragon.
The mint says about it:
"Never seen on coinage until now, a reimagining of a design created by George Kruger Gray for King George V’s Silver Jubilee (25 years on the throne) in 1935 features on this modern bullion release. The second installment in the collection features elements of the Gothic Revival style, adapted from Kruger Gray’s original design. This coin is a captivating tribute to England’s patron saint."
The design was submitted as a proposal for a commemorative to mark the Jubilee, but narrowly lost to Percy Metcalfe's Art Deco design which became known as the Rocking Horse Crown. | 
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