Royal Mint to mark birth of Duke and Duchess of Cambridge's baby by giving away silver pennies at an estimated cost of £50,000

The penny, which will be presented in a pink or blue pouch, has been marked with the year 2013 to commemorate the babies' year of birth

The Royal Mint of a new silver penny coin to commemorate the birth of the Duke and Duchess of Cambridge's baby which will be gifted to babies born on the same day as the future monarch (PA)

Babies who are born on the same day as the Duke and Duchess of Cambridge's first child are to receive a free "lucky" silver penny, the Royal Mint has announced today.

The Royal Mint will be giving away 2,013 of the pennies at an estimated cost of more than £50,000.

The penny, which will be presented in a pink or blue pouch, has been marked with the year 2013 to commemorate the babies' year of birth and features a shield of the Royal Arms.

Parents of newborns who share their birthday with the third-in-line to the throne need to apply online for one of the 2,013 coins that have been struck by visiting Facebook.com/theroyalmint.

They will have 60 days following the arrival of the future monarch, which is expected in the next few weeks, to register for the coin and they will also need to provide a copy of their child's birth certificate to qualify.

Crossing the palm of a new born baby with silver or offering them a silver penny has traditionally been a way of wishing them wealth and health throughout his or her life.

Shane Bissett, director of commemorative coin at the Royal Mint, said: "The birth of the royal baby will be a joyous occasion not just for Their Royal Highnesses the Duke and Duchess of Cambridge but also for the whole nation, as we prepare to celebrate another remarkable milestone in their life journey together.

"However, it will also be a special day for many mothers and fathers across the country as they too welcome the arrival of their new baby, hence why we wanted to extend this historical moment to them with a lucky silver penny".

Additional reporting by the Press Association