5 Pounds - Bald Eagle and Liberty

Alderney issues coins as a dependency of Guernsey under letters patent, with face values denominated in pounds sterling — though no Alderney coin has ever circulated as everyday currency. The "5 Pounds" denomination here is a legal fiction that enables the piece to function as a commemorative bullion product while carrying nominal Crown dependency status. The bald eagle subject has no particular connection to Alderney, an island of roughly 2,000 people in the English Channel; it is simply a marketable theme for the international collector and bullion trade.