King Charles III has made a subtle yet impactful change to one of the most enduring symbols of British currency – the coins bearing the monarch’s image. Unlike his predecessors, who saw new coins introduced with their likeness as soon as they ascended the throne, Charles made a conscious decision to minimize waste by only introducing new coins when absolutely necessary. This decision has resulted in the rare appearance of his image on UK currency, with only a small number of coins bearing his likeness currently in circulation.
According to the Royal Mint, just 0.2% of the coins in circulation in the UK today feature the image of King Charles III, with the remaining majority still showcasing Queen Elizabeth II. These coins, issued during her reign, continue to be legal tender until they are gradually withdrawn through natural wastage. In fact, many coins are minted years in advance to ensure they are ready for circulation when needed, as was evidenced earlier this year when brand new £1 coins featuring the late Queen appeared in tills, even though they had been minted in 2022, three years after her death.
In August, a new batch of £1 coins featuring the Queen, minted in 2022, were released into circulation, illustrating the Royal Mint’s efficient system of maintaining a steady flow of currency. As King Charles insisted on utilizing the coins that had already been minted to avoid unnecessary production, nearly 23 million £1 coins featuring Queen Elizabeth II with the 2022 date were released, ensuring that they were put to use before any new coins bearing the King’s likeness were introduced.
The release of the new 5p coin, however, marks a milestone in the reign of King Charles III. This is the third coin to feature his image and has now entered circulation, joining the previously released 50p and £1 coins. The new 5p coin carries an oak leaf design on its reverse side, a nod to King Charles’s lifelong commitment to environmental conservation. The Royal Mint has confirmed that all new coins bearing the King’s image will feature designs celebrating British flora and fauna, reinforcing his dedication to nature and wildlife.
A special touch accompanies the introduction of the new 5p coin: it is being distributed to eight places across the UK, all of which have the word “oak” in their name, symbolizing the strong connection to nature. Among these locations is the Oaks Post Office in Dungannon, County Tyrone, marking the royal first as these coins are sent to post offices for public use.
The 5p coin was minted in 2023, although it hadn’t been needed until now, further highlighting the Royal Mint’s practice of planning for currency demand in advance. As of now, only a small portion of the nation’s currency carries the image of King Charles, making these coins particularly rare and significant.
With King Charles’s cautious approach to coin production and his focus on environmental themes, the new coins symbolize a thoughtful and measured transition in the monarchy’s representation on British currency. The release of this new 5p, alongside the earlier 50p and £1 coins, signals the beginning of a new chapter in the British monarchy’s history, marked by a conscious effort to balance tradition, conservation, and the efficient use of resources.
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