Approximately 27 billion coins are circulating in the UK with the queen’s image, and these will be replaced over time as they become damaged or worn.
The Royal Mint has announced that coins featuring the portrait of King Charles III will enter circulation in the United Kingdom, replacing his mother, the late Queen Elizabeth II, to become the first king on British coins since 1952.
“As official coin maker to the UK, we have told the story of each monarch since Alfred the Great and are now preparing for the biggest change in British coinage for several decades,” Royal Mint Chief Executive Officer Anne Jessop said. “The first coins bearing the effigy of His Majesty King Charles III will enter circulation in line with demand from banks and post offices.”
Though a commencement date was not disclosed, the Royal Mint, based in Llantrisant, Rhondda Cynon Taf, said all coins bearing the face of Queen Elizabeth II would remain legal tender.
“Coinage of King Charles III and Queen Elizabeth II will co-circulate in the UK for many years to come,” it stated.
New banknotes and stamps featuring the king’s image will also be introduced to reduce the “environmental and financial impact” of the changes.
The Royal Mail and Bank of England disclosed that they received guidance from Mr Charles’ royal household to minimise cost and ensure a sustainable transition.
Updated banknotes bearing the portrait of the latest monarch will be revealed by the end of the year, the Bank of England said.
The notes are expected to enter circulation by mid-2024, with the new monarch’s portrait appearing on existing designs of the £5, £10, £20 and £50 banknotes.
Approximately 27 billion coins are circulating in the UK with the queen’s image, and these will be replaced over time as they become damaged or worn and to meet the demand for additional coins.
