The Royal Mint has started the production of the first coins that will feature the likeness of King Charles III.
The first of the coins will be introduced into circulation in December as coins and banknotes featuring Queen Elizabeth II will start to be phased out.
The change comes after the Queen died on 8 September at her Balmoral Estate in Scotland, with her cause of death being “old age”.
The move to change the coins to the King’s face marks the biggest change to British coinage since decimalisation.
A memorial 50p coin in honour of the Queen will also go into circulation from December.
When will King Charles coins and banknotes enter circulation?
The Royal Mint has revealed that the first coins depicting King Charles will enter circulation in December this year.
It has not yet announced when the first banknotes with the King’s likeness will be introduced into circulation, but it has been speculated that this could be 2023 or 2024.
What will happen to coins and banknotes with the Queen’s face on them and will they still be legal?
Coins and banknotes with Queen Elizabeth II’s face will co-circulate alongside the new coins with the King’s face until they are naturally phased out.
The Royal Mint has previously said that you will still be able to use the coins with the Queen on them for “many years to come” and they will still be considered as legal tender.
Coins depicting the Queen will only be taken out of circulation once they get damaged.
The Bank of England has also said previously that existing stock of banknotes featuring the Queen will continue to be issued into circulation to minismise the environmental and financial impact of the change of monarch.
How long will it take to phase out coins with the Queen on them?
This is unclear at present as the coins will be phased out naturally.
There are around 27 billion coins currently in circulation in the UK with the Queen’s face on them, and these will only be replaced as they become worn, damaged, or if there is a rise in demand for coins.
