Like many other mints, the Royal Mint issues bullion coins in precious metals, having much higher intrinsic value than their face value. The ten ounce (10 oz) silver coins are denominated as ten pounds (£10).
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. The coins are typically "one-year" types usually issued in parallel with smaller denominations with the same reverse designs.
Britannia coins are British bullion coins issued by the Royal Mint in gold since 1987 and in silver since 1997. After 2013, the proof versions of the coin feature a different design each year, while the bullion versions of the coin - such as this one - have the classic, or "definitive" Standing Britannia reverse design.
The Royal Mint says about the coin:
"Britannia has been the female embodiment of Britain for centuries, evolving through the ages to capture the spirit of the nation she represents. First appearing on the coins of the Roman Emperor Hadrian, Britannia has a long history with British coins. Today, this icon is the face of our flagship Britannia bullion coin, renowned for its beauty and reliability. This incarnation of Britannia was created by sculptor Philip Nathan in 1987. He presented the "queen of the seas" with carefully chosen symbols of Britain’s identity - a shield for protection, an olive branch for peace and a trident for her maritime links. The award-winning design has become so highly-regarded that only The Royal Mint is able to strike genuine Britannia coins featuring Philip Nathan’s interpretation.
This modern classic of design has been struck on the 2021 Britannia bullion coin, which contains ten ounces of 999 fine silver and depicts Britannia standing boldly amongst the waves, surrounded by a background of radial lines."
This is the first Britannia coin issued in the 10oz silver format. | 
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