Portrait of Queen Elizabeth II on 29 billion coins currently in circulation in the UK
Peter Macdiarmid / Staff / Getty Images
Queen Elizabeth II’s portrait is featured on each of the 29 billion coins currently in circulation in the UK, as well as the currencies of Commonwealth countries including Australia, New Zealand and Canada.
Like King Charles III is now monarchAccording to Dominic Chorney from coin experts AH Baldwin & Sons, coins with his image will be in circulation, but coins featuring the queen won’t be phased out anytime soon.
“I don’t imagine there will be a concerted effort to clear her money,” Chorney told CNBC.
“The coins will fade with time, but I imagine there will be Queen Elizabeth coins in circulation for decades,” he said.
The pound sterling can usually circulate for about 30 years without being too worn out to use.
Before the decimal occurred in early 1971 – the process that saw the pound move from denominations of pounds, shillings and pence to mere pounds and pence – it was common to see images of former kings on money.
“[There] will have [been] coins in circulation of Queen Elizabeth II, George VI, George V. It’s even possible that some of the coins actually feature Queen Victoria,” Chorney said.
And now that coins bearing the late queen’s portrait are still legal tender, there’s no real reason to try to get rid of them, he said.
“Meaning you would have King Charles III coins in circulation with Queen Elizabeth II coins, which is unique in modern history as no one remembers seeing two different kings saved. onions,” Chorney said.
Which path will King Charles III face?
Using the image of the king on coins is a tradition that goes back thousands of years. It symbolizes power and also secures a currency, according to Chorney.
“A currency can be trusted if it is backed by the state, and the most obvious symbol of the state, since Roman times, is the emperor, the ruler, the king,” Chorney said.
Since 1659 at the end of the Protectorate – a period in which the head of state of Great Britain was Lord Protector Oliver Cromwell rather than a king or queen – portraits of monarchs on coins have faced with the opposite directions with each new coronation.
When Charles II ascended the throne in 1661, he chose to have his portrait facing left – in contrast to Cromwell, who executed his father Charles I.
Five different portraits of Queen Elizabeth II have appeared on British coinage since her accession to the throne in 1952.
Image JUSTIN TALLIS / Stringer / Getty
Rumor has it that this move represents the new monarch turning away from Cromwell’s version of the republic in England, and this tradition continues every time a new monarch ascends the throne.
The only break with tradition almost came from Edward VIII. His coins faced the same way as his father, to capture his more flattering side, but when he abdicated less than a year after becoming king, his coins was never released. His brother and successor, George VI, chose to face his father, and so the tradition was restored.
Five different portraits of Queen Elizabeth II have appeared on British coinage since her accession to the throne in 1952. The most recent one was designed by Jody Clark and this is the first to be created solely from pictures rather than sitting with the queen.
The Royal Mint, the UK’s official coin maker, declined to comment on the newly minted set of coins with the portrait of King Charles III, but they did provide the following statement via email:
“The Royal Mint worked with the late Queen throughout her reign – detailing her journey from new Queen to respected head of state through five coin portraits and ensuring every new UK coin receives her personal seal of approval. The remarkable legacy of Britain’s longest-serving monarch will endure for many years to come.”
The Bank of England, which issues the UK’s banknotes, has confirmed the queen’s banknotes will continue to be legal tender and said further announcements on the coins will be made “after period of national mourning is observed.”
