There are over 15 countries in the world where the currency bears Queen Elizabeth II’s likeness; Australia included. But obviously after the Queen’s death, from now on, newly minted coins and banknotes will bear King Charles III’s likeness.
And in a historic transition, the first coins with King Charles on them have entered circulation in the United Kingdom.
The portrait of King Charles will be the only change to existing change to existing designs of £5, £10, £20 and £50 notes. New notes will feature the King’s portrait on the front and in the see-through security window.
A side by side comparison of Charles and Elizabeth on British currency.
(IMAGE: Getty)According to news.com.au, post offices throughout the UK have received 4.9 million 50 pence coins that bear the King’s effigy, which are now currently in circulation, and will be distributed as change when customers make purchases.
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While Charles’ image appears on the heads side of the coin, the life and legacy of Queen Elizabeth is commemorated on the tails side as it features a design that originally appeared on Her Majesty’s Coronation Crown in 1953.
In keeping with tradition, King Charles’ portrait faces to the left; according to the Royal Mint, for more than 300 years, each King or Queen faces in the opposite direction to the one who came before them, and Queen Elizabeth’s portrait faced right.
Whilst Charles is titled ‘King’, his official coronation will not take place until May 2022.
(IMAGE: Getty)As for Australia, the Royal Australian Mint expects new 5c, 10c, 20c, 50c, $1 and $2 coins bearing King Charles’ likeness will enter circulation in 2023.
However, the Australian $5 banknote may not feature King Charles for a little while. A Reserve Bank of Australia (RBA) spokesperson told The Guardian, ”We will plan for an update to the $5 banknote design in due course. Creating the design for new banknotes is a complex process.”
”It can be several years [between] when a banknote is printed and when it is issued into circulation depending on demand from the public and the need to replace banknotes that have become worn in circulation.”
Australian currency is set for a major shakeup!
(IMAGE: Getty)Of course, all existing Australian currency (coins and the $5 banknote) that bear Queen Elizabeth’s likeness will remain in circulation and can still be used.
”All Australian banknotes issues from 1913 retain their legal tender status,” the RBA spokesperson said.
