More than 23 million Queen coins are being released alongside 7.5 million new King Charles III £1 coins.
More than 23 million Queen coins are being released alongside 7.5 million new King Charles III £1 coins.
A big change is coming for anyone with £1 coins – as the last and final batch of Queen Elizabeth II coins hits wallets and purses. More than 23 million Queen coins are being released alongside 7.5 million new King Charles III £1 coins.
The Royal Mint said the last of the Elizabeth II coins, dated 2022, are the rarest £1 coins in active circulation. The historic transitionrepresents a significant moment for UK coinage.
It marks the changeover from Britain’s longest-reigning monarch to her son and heir on the £1 denomination, the Royal Mint said. The Queen ’s £1 coins will be the final ones bearing Elizabeth II’s portrait to enter circulation.
READ MORE Council tax bills to rise £380 for certain UK households in band D
Rebecca Morgan, director of commemorative coin at the Royal Mint, said: “This release represents a pivotal moment in British coinage history.
“As we release more of the King Charles III £1 coins into circulation alongside the final coins of Queen Elizabeth II, we’re witnessing the physical representation of our monarchy’s transition.
“This dual release creates an exceptional opportunity for both seasoned numismatists and those new to coin collecting.”
Ms Morgan added: “Finding these new coins in your change could spark a rewarding hobby that connects you with the heritage, history and craftsmanship behind British currency.”
In total, there are around 24.7 billion coins in circulation across the UK, with the King’s coins representing only around 0.004% of those, making his new coins highly desirable to collectors.
All UK coins bearing the Queen’s portrait will remain legal tender and in active circulation to allow a smooth transition and minimise the environmental impact and cost.
To date, 2.975 million £1 coins featuring King Charles have been released, though smaller circulation numbers have fuelled demand for commemorative editions.
The Royal Mint’s definitive set, which includes all of the new designs, has already proved popular among collectors.