The birth of Prince William and Kate's second baby will be celebrated with the release of a new £5 coin. The commemorative piece will be launched after the tot is born, which is expected to be in "mid-to-late" April as Kate has previously revealed.
While the little Prince or Princess is not expected to ever rule as a monarch, being fourth-in-line to the throne, he or she will have a coin struck in their honour – much like older brother Prince George.
The Queen approved the decision during a meeting of the Privy Council at Buckingham Palace on 19 March.
Prince William and Kate will welcome their second royal baby in April
The Royal Mint told HELLO! Online that they could not comment on the new product until the second royal baby was born and the coin was ready to be launched. Crossing the palms of babies with silver is a traditional way of wishing them luck, health and wealth.
When George arrived in July 2013, The Royal Mint produced 10,000 solid silver crown-sized £5 coins – which cost £80 each – and 2,013 22 carat gold sovereigns, priced at £800 each.
Both coins, which featured the newborn's namesake St George, were sold out within days.
Prince George's July 2013 birth was also celebrated with the release of a new £5 coin
Babies born on the same day as the Prince were also given their own royal gift in the form of a lucky silver coin. The Royal Mint struck a total of 2,013 silver coins and presented them, free of charge, to the tots who shared George's birthday. Depending on the sex of the child, the coin was delivered in a pink or blue pouch.
While George's birth was celebrated with the new coins, his baptism was also marked in a similar way. A set of special coins was released, featuring two cherubs, the traditional "Lily Font" from the Tower of London and the phrase, "To celebrate the christening of Prince George of Cambridge 2013."
This was the first time that a member of the British royal family's baptism had been honoured in this way.
The Royal Mint also struck a new coin for Prince George's christening in October 2013
When George turned one, his first birthday was also commemorated with another new £5 coin. The sterling silver piece featured the heraldic royal arms on one side and a portrait of Her Majesty's face on the other.
The Queen, William and Kate, and Chancellor of the Exchequer George Osborne all approved the design of the coin.