More than a year after the death of Queen Elizabeth II, The Royal Australian Mint have officially announced the release of their first coins featuring King Charles III.
For the first time in 70 years, and after more than 15.5 billion coins were minted with the face of the late Queen, the Australian $1 coin will feature an effigy of the King.
The King’s image
The King’s image that features on these brand new $1 coins will be the official Commonwealth effigy, available for use by all British Commonwealth countries. As with all official portraits of reigning monarchs, the new effigy has been personally approved by King Charles III.
As with our UK coins, this new Australian $1 coin sees the monarch facing the opposite direction to his predecessor, Queen Elizabeth II.
A major change for Australian Coinage
During her reign, six effigies of Queen Elizabeth II have featured on Australian coinage, however the latest change was only 5 years ago. From 1998 to 2018, with the exception of 2000, it was Ian Rank-Broadley’s effigy that featured on Australian coinage.
In 2018, a new effigy of the Queen by Jody Clark was approved and made it’s way onto Australian coins in 2019.
Considering that the Queen Elizabeth effigy only changed fairly recently, the introduction of King Charles III is sure to cause a huge shake up in Australian coinage.
How many will enter circulation?
The final mintage figure of the 2023 Australia $1 is yet to be confirmed, however, The Royal Australian Mint have announced that an estimated 10 million will be circulating by Christmas.
Most Australians will never have held a circulating coin featuring a King on the obverse, so this new issue is guaranteed to attract the attention of not only collectors, but anyone who regularly uses coinage.
The $1 is the only denomination to feature His Majesty at the moment, however The Royal Australian Mint have said that the $2, $5, 10 cent, 20 cent and 50 cent coins will be released gradually next year.
When will we see the King on UK coinage?
Although we’ve already seen the King’s effigy on commemorative UK 50p, £2 and £5 coins since the Queen Elizabeth II Memoriam coin range last year, it’s just been announced that all UK coins are set to change. As the full range of circulating coins from the 1p to the £2 will not only feature the King, but are also set to receive brand new reverse designs.
As perhaps the biggest change we’ve seen to UK coinage in decades, we’re expecting a huge collecting rush for the New UK Coinage for King Charles III and can’t wait to see the new coins when they’re released.