Australia markets closed
  • ALL ORDS

    7,713.10
    -32.80 (-0.42%)
     
  • AUD/USD

    0.6934
    +0.0044 (+0.64%)
     
  • ASX 200

    7,504.10
    -34.90 (-0.46%)
     
  • OIL

    74.93
    +0.82 (+1.11%)
     
  • GOLD

    1,886.50
    +7.00 (+0.37%)
     
  • BTC-AUD

    33,071.51
    +56.80 (+0.17%)
     
  • CMC Crypto 200

    526.53
    +1.39 (+0.26%)
     

The first coins with King Charles have been released

King Charles 50 pence coins.
The first coins featuring King Charles III have been released in the UK. (Source: The Royal Mint)

The first coins featuring King Charles III have entered circulation in the UK, with millions of 50 pence pieces released to post offices in Britain.

The 50p coin commemorates the life and legacy of the late Queen.

Designed by British sculptor Martin Jennings, the coin features a portrait of King Charles III facing to the left, the opposite direction to the late Queen Elizabeth II.

The coin, which was personally approved by the King, includes a Latin inscription which reads: “Charles III, by the Grace of God, King, Defender of the Faith”.

The reverse of the coin, or tail side, features a design that originally appeared on the 1953 Coronation Crown and was created to commemorate the late Queen's coronation at Westminster Abbey.

The Royal Mint UK will be sending 4.9 million coins to 9,425 post offices across the UK throughout December.

King Charles 50 pence coin.
The new 50 pence commemorative coin featuring the portrait of King Charles III. (Source: The Royal Mint)

“Today marks a new era for UK coinage, with the effigy of King Charles III appearing on 50ps in circulation,” the Royal Mint director of collector services, Rebecca Morgan, said.

“It’s a fantastic opportunity for coin collectors to add to their collections, or start one for the first time. We anticipate a new generation of coin collectors emerging, with people keeping a close eye on their change to try and spot a new 50p that bears the portrait of our new King.”

All UK coins bearing the portrait of the Queen remain legal tender and in circulation.

When will King Charles appear on Aussie coins?

The Royal Australia Mint will start minting coins with the portrait of King Charles III next year. It will be the same effigy that has been endorsed by Buckingham Palace.

Like in the UK, the new Australian coins will feature King Charles III facing to the left. All Australian coins with the face of the Queen will be accepted as legal tender.

Follow Yahoo Finance on Facebook, LinkedIn, Instagram and Twitter, and subscribe to the free Fully Briefed daily newsletter.