Today the Royal Mint has unveiled the release of the first ever United Kingdom 5oz coin. Issued to celebrate the upcoming 2012 Olympic and Paralympic Games, the coin has been struck by the Royal Mint in 999/1000 fine silver to an immaculate Proof finish.
Legal tender in the United Kingdom, the coin has a denomination of ten pounds and measures a hefty 65mm in diameter, in addition to its considerable five ounce weight.
Featuring Ian Rank-Broadley’s iconic portrait of Queen Elizabeth II on the obverse, the reverse has an all new Pegasus design in celebration of the Games by Royal Academy President Christopher Le Brun. A mythological creature, Pegasus has been chosen as a symbol of the Olympic spirit and representing the Olympic motto ‘Faster, Higher, Stronger’.
It is interesting to note that the Royal Mint has limited this coin to only 7,500. To put that in to perspective, the first London 2012 Silver Crown sold out of its entire edition of 30,000 pieces (four times the limit of this coin) three years before the start of the games. Combined with the already well established worldwide popularity of 5oz Silver coins, it is hard to imagine this piece not selling out in very short order.