Can someone explain what the difference is between these 2 silver coins please? They contain the same weight of silver and appear to have the same design (though the picures use differnet lighting). The obvious differences are the names, the presentation and the price. Is that all there is? The circulation numbers of each are quite different, but if the coins are the same then it's really the number of presentation boxes that is limited.

Pictures 2 and 3 show the coins in more detail.

2007 Britannia £2 Silver Bullion
http://www.royalmint.com/PackedSets/BR07AG.aspx

2007 Britannia Silver Proof £2 One Ounce
http://www.royalmint.com/PackedSets/BR07SO.aspx

Incidentally, there are some of the bullion coins on ebay selling for more than they are from the royal mint, after delivery costs.

Edit: how do I edit the title? Bullion, not bullon!

Bullion and proof are different grades of coin.
Proofs are made differently. If memory serves - double struck - to give a sharper and more defined image.
When buying a bullion coin the quality of the coin (dents, marks etc) is relatively unimportant, you are simply buying the metal.
With proofs the quality of the coin is important - it starts out at a higher grade - any dents or marks reduces the value of the coin.
Coin collectors will pay higher prices to get a proof and may want all the dates of a coin set etc.
It is a bit like stamp collecting, the paper is worthless, but the stamps image gives it value.
Here the proof is worth more because coin collectors (numismatists) will paid more for a nice shiney coin.

The value of a bullion coin is really the spot price of the metal
the value of a proof is the spot price + whatever a collector will pay.

You pays your money and takes you choice.
( I nearly bought a proof gold britannia cos it was pretty, but choose not to because I thought coin collecting wasn't really for me, a bit train spotter ish?)

Thanks DS

Standard bullion coins = investors.

Proof coins = collectors.