The Royal Australian Mint has unveiled the new effigy of King Charles III that will appear on $1 coins before Christmas. It is worth noting that for almost 70 years, every Australian coin has featured Queen Elizabeth II, and her coins are still in circulation as legal tender. However, starting from the end of this year, the coins will begin to bear the image of King Charles III, with some subtle differences.
As is tradition, His Majesty will be facing left — the opposite direction to his mother.
"The best way for you to access one of those coins … is to use cash. If you use cash, and you get change, you increase your chance of getting a coin," Royal Australian Mint chief executive Leigh Gordon said.
As per recent reports, the dollar will be the first coin to feature the official Commonwealth effigy of King Charles III. The image, designed by the Royal Mint in London, has already received royal approval. In the first round of circulation, over 10 million $1 coins bearing the King's likeness will be distributed, with other denominations to follow in 2024 based on demand from banks.
“We were very respectful of the process and we didn’t want to jump the gun. We also wanted to allow the British Royal Mint to be in a position where it had an effigy to be able to release to the Commonwealth nations,” Leigh told reporters in Canberra on Thursday.
Leigh also added that for many Australians it would be the first time they’ve seen a different face on the currency.
However, it has also been confirmed that the $5 note will not feature King Charles III replacing his mother, Queen Elizabeth II. Instead, the note will showcase a design that pays tribute to the Indigenous people of Australia.
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