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The latest batch of £1 coins featuring the likeness of the late Queen Elizabeth II has been released into circulation, with a staggering 23 million coins making their way into tills and pockets across the UK. This release marks a significant moment in British coinage history, as the final coins with Queen Elizabeth II’s image, dated 2021 and 2022, are now in circulation alongside the introduction of 7.5 million new King Charles III coins.
Director of commemorative coin at the Royal Mint, Rebecca Morgan, expressed the importance of this transition in the monarchy as the King Charles III coins join the final coins of Queen Elizabeth II in circulation. She highlighted the potential for the discovery of these new coins in people’s change to ignite a passion for collecting and studying coins. Despite being struck up to four years ago, these coins are only now being released due to the demand for £1 coins.
The 2022 coins are set to become the rarest in circulation, with only 7.735 million of them being released. Currently, there are approximately 24.7 billion coins in circulation throughout the UK, with the King’s coins representing a mere 0.004% of that total. Last August, the Royal Mint released 2.975 million £1 coins featuring King Charles III, showcasing an intricate bee design on the tails side to represent his appreciation for nature.
In a move to modernize the nation’s coins, a total of eight new designs will eventually be featured on coins ranging from the 1p to the £2. These designs will showcase the UK’s flora and fauna, with popular animals such as the red squirrel, puffin, and dormouse making appearances. Along with the introduction of the new designs, larger numbers are included on the coins to assist children in identifying figures and learning to count. The transition to new designs was initiated following the passing of Queen Elizabeth in September 2022 and the subsequent ascension of King Charles III to the throne. Despite the new coins entering circulation, all UK coins bearing the image of the late Queen Elizabeth remain legal tender and will continue to circulate alongside the coins featuring her son for the foreseeable future
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