Prince George of Cambridge has an early present for his second birthday, coming July 22. The Royal Mint has designed and released a 5-pound commemorative silver proof coin to celebrate another milestone for the third in line to the British throne.

The commemorative coin features the work of artist Christopher Le Brun, a contemporary scene of St. George dueling a dragon, according to E! Online. On the other side is Jody Clark's portrait Prince George’s great-grandmother, Queen Elizabeth II.

A statement concerning the coin’s design was released by Shane Bissett, director of commemorative coin and the bullion at the Royal Mint. "The choice of the St. George design to honor Prince George's birthday is an apt one -- the name George has long had links with the British monarchy and its coinage, there having been six kings of that name during the Royal Mint's 1,000-year history," he said. “The choice of a silver GBP5 coin is significant too as the tradition of crossing the palm of a newborn baby with silver is a way to wish them wealth and good health throughout their life."

The designs were personally approved by Prince George’s proud parents, Prince William and Kate Middleton, the Daily Mail reported. Aside from the approval of the Duke and Duchess of Cambridge, the designs were given a heads up by the queen and Chancellor George Osborne. St. George first appeared in gold coins issued under Henry VII (1485-1509) and has been famously associated with the British coinage.

Prince George’s birth, christening and first birthday celebration were all commemorated with special edition coins. Earlier this year, two 5-pound commemorative coins were issued in honor of Princess Charlotte – one was to mark her birth, the other her christening, the Mirror reported. The latest commemorative coin for Princess Charlotte’s christening was crafted by engraver John Bergdahl, who also designed the similar commemorative coin for Prince George’s christening.  

The sterling silver coins are worth 80 pounds ($125) each and a limited of 7,500 will be available for purchase.  In addition, 400 limited editions of the Sovereign coin are also available for 500 pounds ($781) each.