King Charles III coins coming to Australia after death of Queen Elizabeth

Major changes are coming to Australia’s currency. Here’s what our coins and notes are about to look like.

Hundreds of millions of Australian coins with the image of Queen Elizabeth etched on the face will remain in circulation and will continue as legal tender for years to come even as a new monarch is installed.

New coins will be produced with a portrait of the new monarch - expected to be her son Charles - following his coronation, and the existing coins in circulation will be phased out as they wear down which for some could be as much as 20 years.

Australian coins are set to be updated to feature the portrait of King Charles III.

The new monarch will be a major visual change for most Australians given the Queen has been the one constant figure on all coins since decimal currency was introduced in 1966. The production of the new coins won’t take place overnight, with the Queen’s image expected to remain on new coins produced through the current production cycle. It is believed that Charles has already sat for a portrait to be used on British coins, notes and stamps, with the same image expected to be made available for use in Australia.

Australians will also notice another key difference once coins featuring the new monarch start circulating. The head of the new monarch will be looking to the left. All the portraits of Queen Elizabeth on Australian coins over the past 69 years have faced to the right.

The reversal of the monarch is said to have begun with Charles II in the mid-1600s with a convention that a new monarch’s portrait should face in an opposite direction to their predecessor.

The inclusion of a portrait of the serving monarch on the “heads” side of Australian coins is mandated by law under the Currency Act of 1965. Any change to this will need to be approved by parliament.

The Royal Mint of a special commemorative coin to celebrate the seventieth birthday of the Prince of Wales.

There have been six versions of the Queen on Australian coins since her coronation in 1953. The current design featuring the Queen wearing the Victorian coronation necklace, was designed by UK artist Jody Clark and began transitioning onto Australian coins three years ago. Before that an image of the Queen by British sculptor Ian Rank-Broadley was used for two decades.

The Royal Australian Mint based in Canberra was officially opened by Prince Philip in February 1965. The facility was built to produce the hundreds of millions of new coins that were needed to prepare for the introduction of the decimal currency.

The mint now has the capacity to produce two million coins a day, and as well as Australian coins it also makes coins for several Pacific countries.

There are currently $4.3 billion worth of coins in circulation across Australia’s six denominations. Last year more than 135.2 million coins were produced, with more than a billion believed to be in circulation. The “copper” 1c and 2c coins were phased out from 1992.

King Charles will feature on all New Australian currency.

The Reserve Bank of Australia, which oversees banknotes says it will plan for a new design for the $5 note in due course but it may be years before any change is seen by the public. In the meantime all existing $5 notes can continue to be used as legal tender.

In Australia the reigning monarch has traditionally appeared on the lowest denomination of banknotes.

“Creating the design for new banknotes is a complex process. It can be several years 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,” a RBA spokesman said.

However there is no legal requirement for banknotes to carry a picture of the reigning monarch. In 2001 the Queen did not feature for a year on Australian $5 notes, replaced by Henry Parkes and Catherine Spence, to commemorate the Centenary of Federation.

Australians will notice the change quicker with the $5 note staying in circulation between 3.5 and 5 years. Last year there were 21 million $5 notes printed and currently there are more than 200 million in circulation.

A spokeswoman for the Treasury which oversees the Royal Australian Mint said minting operations have been temporarily paused on Friday as a mark of respect.

“Treasury can confirm existing coins bearing the effigy of Queen Elizabeth II remain in circulation and remain legal tender,” the spokeswoman said.

The West Australian government owned Perth Mint which produces gold coins has also temporarily suspended operations.

Our currency is not the only thing that is going to change. Other aspects of Australian life are set for an overhaul, with all references to Her Majesty replaced to His Majesty.

Any lawyers who still use QC in their titles will have it changed to KC - Kings Counsel.