King Charles to appear on 10 million one-dollar coins in Australia

CEO of Royal Australian Mint says coins will ‘circulate by the millions across Australia for many years’

A number of dollar coins featuring the effigy of The King in Australia (PA)

King Charles III will appear on 10 million one-dollar coins in Australia, with his effigy to be put in circulation before Christmas, the country’s government announced.

The King’s effigy was designed by the Royal Mint in London with the two dollar and the five, 10, 20 and 50 cent coins set to be released progressively next year.

The assistant minister for treasury Andrew Leigh said: “For the first time since 1953 the King’s effigy will appear on an Australian coin.

“Since 1953, every Australian coin has borne a Queen. That’s been true since decimal currency came into effect in 1966. So this really is a historic occasion.

“For most Australians, this will be the first time they have held in their hands a coin with a King.

“As is traditional, the new effigy will switch direction. Queen Elizabeth II faced to the right. King Charles III will face to the left.”

Mr Leigh added: “We were always going to continue to have the Sovereign on the coin.”

The CEO of the Royal Australian Mint, Leigh Gordon, said the coins will “circulate by the millions across Australia for many years”.

When asked why it took Australia almost a year to introduce the coin, Mr Gordon said: “It’s not something that we particularly want to rush, we want to get it right.

“These coins will last for 30 years, or more, depending on the usage that they get.”

The 15.5 billion Australian dollars’ worth of coins featuring the late Queen will continue to be able to be used.

In February, the Australian Reserve Bank announced that King Charles’ image would not feature on Australia’s new five dollar banknote, and its portrait of the late Queen is to be replaced with a design honouring Indigenous Australians.

The decision came after consultation with the Australian government, with the future design intended to pay tribute to “the culture and history of the First Australians”.

The late Queen’s portrait has featured on the five dollar note since 1992, and is drawn from photographs commissioned by the Reserve Bank in 1984.