The coins are part of its music legends collection in celebration of the UK artists who “helped shape our love of music”.

They’re available in £5 limited edition uncirculated coins and cost £13 – £15.

Alternatively, buyers can choose quarter ounce, one ounce and two ounce silver and gold coins ranging in price from £95 to £4,555.

Other coins in the collection include £1, £2, £25 and £100 editions as well as a kilo gold proof coin costing £68,865.

The artist, Bradley Morgan Johnson said first he had to come up with a way to represent the music legend without actually showing him, “as tradition dictates that the portrait of a living person – apart from the reigning monarch and members of the royal family – should not appear on a coin”.

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Instead, he used musical notes to create an image of glasses and a straw boater’s hat, inspired by one of Elton John’s most iconic looks, and a Union flag background which is “unmistakably Elton John”, he said.