Common coins like those you find in your change will be around for many years yet so if you would like to collect some as a momento you have plenty of time. These will likely be coins that are already rare, particularly those issued in the first and final years of Her Majesty's reign. There may be some coins of Elizabeth II that become particularly sought after over time. You could still find Victorian Pennies in your change in the 1960s! There are supposedly 29 billion coins in circulation in the UK so the idea of changing them out is entirely impractical.ĭid you know? Before Decimal Day in 1971, coins of multiple British monarchs circulated alongside each other. From 2023 these older coins will circulate alongside new ones bearing the profile of King Charles. UK coins with Queen Elizabeth's portrait will not be immediately withdrawn but very gradually phased out. Will Elizabeth II coins become rare? Should I keep them? King Charles has previously featured on a number of British commemorative coins, including this one, issued in 2008 to celebrate his 60th birthday. Read more: Portraits of Charles, Prince of Wales on British Coinage. Entries are assessed by the Royal Mint Advisory Committee and their choice is approved by the Chancellor of the Exchequer and ultimately the monarch themselves. Charles III's portrait will likely be picked in the same way. Supposedly, Charles refused to sit for a coin portrait while his mother was alive.Įach of Elizabeth II's five definitive coinage effigies were chosen via an anonymous competition. Though we've seen Charles face on UK commemorative coins during his time as Heir Apparent, The Royal Mint will have to commission a new engraving of him. We won't see any new coins with King Charles' face on them until January 2023 and preparing these will be a big undertaking. When will King Charles coins be available? Older Elizabeth II coins will remain legal tender. However, as of 14 September, The Royal Mint website notes that coin production will continue 'as usual'.Īs well as striking new coins, the Mint may also start to deplete their stockpiles of Elizabeth II coins to keep up with demand for coinage. In the past, production of new coins has been halted upon the death of a monarch. Will the Royal Mint stop minting coins with the Queen on them? To avoid any confusion we've pulled together some frequently asked coinage questions together with what we know so far.ĭo you have any thoughts about what this news means for our currency? Why not share them with us on YouTube, Twitter, Instagram or Facebook. We have also heard quite a bit of misinformation. We've had a lot of questions in the last days hours about what the accession of King Charles III means for UK currency. The thoughts of The Britannia Coin Company team are with the royal family.Įlizabeth II was our longest reigning monarch and because the UK transitioned to a decimal currency system in 1971, every coin in circulation shows her face on the 'heads' side. We were very saddened to learn of the passing of Her Majesty the Queen whose remarkable lifetime of service is an inspiration to us all.
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