The Royal Mint has announced the release of the final batch of Queen Elizabeth II £1 coins into circulation across the United Kingdom, marking a historic transition in British currency.
Over 23 million coins bearing the late monarch’s portrait are now being distributed nationwide, accompanied by 7.5 million newly minted King Charles III £1 coins. This dual circulation represents what Rebecca Morgan, the Royal Mint’s director of commemorative coins, calls a “pivotal moment in British coinage history.”
Rare Collector’s Items in Everyday Use
The Queen Elizabeth II coins being released are dated 2022 and represent the scarcest £1 coins currently in active circulation. These will be the final coins to feature Elizabeth II’s portrait, making them particularly significant for both collectors and the general public.
Morgan emphasized that this simultaneous release serves as a “physical representation” of the monarchical transition that occurred following Queen Elizabeth II’s passing.
Smooth Transition Strategy
The Royal Mint has adopted a gradual approach to the currency changeover. All existing UK coins featuring Queen Elizabeth II will continue as legal tender and remain in active circulation. This strategy aims to ensure a seamless transition while reducing both environmental impact and associated costs.
Citizens can expect to encounter the new coins in their change and at retail locations throughout the coming weeks.
King Charles III’s Coinage Debut
Currently, only 50p and £1 denominations featuring King Charles III’s portrait have entered general circulation, following the introduction of his effigy on UK coinage in 2023. The King’s £1 coins showcase an elaborate bee motif on the reverse side, nearly three million of which were initially released in August of the previous year.
These coins belong to the Definitive collection, drawing inspiration from the diverse flora and fauna native to the British Isles.
Collector Appeal
With approximately 24.7 billion coins circulating throughout the UK, King Charles III’s coins constitute merely 0.004% of the total. This scarcity factor makes the new royal coins highly sought after by numismatic enthusiasts and collectors nationwide.
