Australians are gearing up for a major makeover of their loose change in the coming months, with the nation’s currency set to undergo a transformation of Royal proportions.
The regal visage of King Charles will soon grace Australian coins making his Royal Highness the second Monarch ever to appear on Australian decimal currency.
Assistant Treasurer Andrew Leigh recently told ABC Radio that although there isn’t a specific release date as yet, the initial coins featuring Charles’ image are expected to make their debut by the conclusion of 2023.
“I’m keen to make sure we get a lot of those new coins out, because I know for the vast majority of Australians, this will be the first time they hold a coin in their hand which has a King rather than a Queen on it,” Leigh said.
Leigh clarified that every new die must undergo rigorous testing to determine its durability for up to 300,000 coin productions.
He assured the public that Australians could expect these coins to circulate by year-end, and this milestone would be accompanied by a significant and noteworthy announcement.
Coins bearing the likeness of the late Queen Elizabeth will retain their status as legal tender and are expected to continue to circulate in the years to come. Sticking with royal tradition, the updated coins of King Charles will keep the portrait facing left, as each new Monarch is required to face the opposite direction from their predecessor.
The United Kingdom’s Royal Mint recently delighted royal watchers when they revealed the first look of the official effigy of King Charles III that will appear on coins.
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While announcing the new coin, the Royal Mint conveyed their “honour to now strike the first UK effigy of His Majesty King Charles III”.
“Today we are honoured to reveal the first official effigy of His Majesty King Charles III appearing for the first time on a memorial coin collection honouring the life and legacy of Queen Elizabeth II,” the Royal Mint said in a statement at the time.
“At The Royal Mint, we have struck coins for the British monarchy for more than 1,100 years, and it has been our pride and privilege to strike every United Kingdom coin of Queen Elizabeth II’s remarkable 70-year reign. It is our honour to now strike the first UK effigy of His Majesty King Charles III on a coinage collection honouring the life and legacy of his mother Queen Elizabeth II.”