Like many other mints, the Royal Mint issues bullion coins in precious metals, having much higher intrinsic value than their face value. The two ounce (2 oz) silver coins are denominated as Five Pounds (£5).
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.
This coin type is the third from a series of ten coin designs known as the Queen's Beasts.
The Queen's Beasts are British coins issued by the Royal Mint in platinum, gold, and silver since 2016. Each of the coins in the series features a stylized version of one of the heraldic Queen's Beasts statues present at the coronation of Queen Elizabeth II representing her royal line of ancestry. It was announced that engraver Jody Clark will design the entire series; he is best known for also designing the Queen's Fifth definitive portrait, which is on the obverse of the coins - so he is in the rare position of having designed both sides.
The Queen's Beasts heraldic statues representing the genealogy of Queen Elizabeth II stood in front of the temporary western annexe to Westminster Abbey for the Queen's coronation in 1953. Each of The Queen's Beasts consists of an heraldic beast supporting a shield bearing a badge or arms of a family associated with the ancestry of Queen Elizabeth II. They were commissioned by the British Ministry of Works from sculptor James Woodford. The statues were uncoloured except for their shields at the coronation. They are now on display in the Canadian Museum of History. There are other statues of the Queen's Beasts, sometimes referred to as the King's Beasts, at Hampton Court Palace and Kew Gardens in London, and on the roof of St George's Chapel, Windsor Castle.
The Red Dragon of Wales (Welsh: Y Ddraig Goch) was a badge used by Owen Tudor, after the story of the dragon on Llewelyn the Last's castle grounds. His grandson, King Henry VII, took it as a token of his supposed descent from Cadwaladr, the last of the line of Maelgwn. During the reigns of the Tudor monarchs, the red dragon was used as a supporter in the English Crown's coat of arms (one of two supporters, along with the traditional English lion). The beast holds a shield bearing a lion in each quarter; this was the coat of arms of Llywelyn ap Gruffudd, the last native Prince of Wales.
The Red Dragon of Wales bullion silver two ounce coin was sold by the Royal Mint in coin tubes (10 coins per tube), in Brilliant Uncirculated grade. Apart from the grade, they differ from the proof coins (issued in 2018) by their reverse inscriptions, and by the textured background both sides. | 
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