Australian Royal Mint releases new $1 King Charles coin into circulation

Australian Royal Mint releases new $1 King Charles coin into circulation
  • PublishedDecember 7, 2023

The first Australian coins featuring King Charles’ head on them are now in circulation across the country, joining the millions featuring his later mother Queen Elizabeth.

The effigy of King Charles III will feature on the new $1 coins being manufactured by the Royal Australian Mint.

The first batch of 3.5 million coins have been delivered to the banks and will join the coins featuring the effigy of the late Queen Elizabeth II, which will continue to remain in circulation.

Assistant Minister for Treasury Andrew Leigh said the new coin depicts King Charles facing to the left – the opposite to his mother.

“For most Australians, this will be the first time they have held in their hands a coin with a King,” Mr Leigh said.

“A lot of work has gone into producing these coins. Millions of people will be keen to get their own little piece of history.

“Under a tradition dating back to at least the 17th century, successive monarchs face in different directions on the coins. Queen Elizabeth II faced to the right.

“King Charles III now faces to the left.”

Assistant Minister for Treasury, Andrew Leigh, says the new coins will be a ‘little piece of history’. Picture: NCA NewsWire/ Gaye Gerard

Assistant Minister for Treasury, Andrew Leigh, says the new coins will be a ‘little piece of history’. Picture: NCA NewsWire/ Gaye Gerard

The coin was designed by the Royal Mint in London, with the effigy getting the approval the royal family.

The remaining denominations of circulating coins will be released progressively in 2024, based on bank demand.

Collector and investment coins bearing the king’s head are also expected to go on sale next year.

King Charles is only the second monarch to feature on Australian decimal currency, after the country switched to dollars and cents in the 1960s.

SOURCE: NEWS.COM

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