New coin featuring King Charles gives Australian currency regal makeover
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The ascension of King Charles III to the throne has brought about a significant change in Australian currency.
The first Australian precious metal collector coin featuring the new king's portrait has been released, sparking excitement among numismatists and royal enthusiasts alike.
The Perth Mint witnessed long queues of eager collectors and enthusiasts waiting for the new coin.
This release comes after the passing of Queen Elizabeth II in September 2022, whose effigy had graced Australian currency for an impressive 70 years.
The new collector coin, minted in pure silver, is a limited edition release with only 7,500 pieces available.
Despite its face value being just $1, the coin is retailing for $130, largely due to the intrinsic value of the silver it contains.
However, its worth extends beyond the monetary value for collectors, representing a significant moment in Australian numismatic history.
The coin was sold online within hours of its release, reflecting the high demand and anticipation surrounding this royal currency facelift.
'Charles is the sixth monarch to appear on the hundreds of millions of coins we have struck over the past 125 years and represents a new era for Australian numismatics,' said Neil Vance, Perth Mint’s General Manager of Minted Products.
The effigy of King Charles III on the collector coin faces left, a tradition dating back to at least the 17th century.
Interestingly, unlike his predecessor, Charles's coin portrait does not feature a crown, a decision made by the king himself.
The coin's release has stirred a sense of nostalgia and excitement among Australians.
Some queued up outside the mint as early as 11 p.m. the night before the release, hoping to secure a piece of history for future generations.
The front of the collector coin, part of the Australian Kangaroo series, features a bounding kangaroo surrounded by rays of sunlight.
It also bears a 'P125' mint mark, celebrating the Perth Mint’s 125th anniversary in 2024.
The Royal Australian Mint manufactured the first coins featuring King Charles III, which entered circulation in December.
His portrait was minted on 3.5 million $1 coins before they were distributed to banks.
However, coins bearing the image of the late queen will remain in circulation until they are naturally phased out due to wear and tear.
The Australian currency has seen several changes since its inception. The first coins used by European settlers were British, but as the colony grew, Spanish, Dutch, and local currency were also used.
It wasn't until 1910, after the federation of the colonies, that the first national Australian coins were introduced.
The effigies of monarchs have always been a significant part of Australian coins. Some monarchs include King George V, King George VI, and Queen Elizabeth II—who held the longest reign on Australian currency.
The tradition of changing the direction of the monarch's effigy with each new reign dates back to the 17th century.
This practice is believed to have started with Charles II of England, who wanted his coins to be distinct from those of his predecessor and father, Charles I.
You can watch 9 News Perth’s coverage of the coin launch here:
What are your thoughts on the new coin, members? Do you plan on adding it to your collection? Share your thoughts in the comments below.
The first Australian precious metal collector coin featuring the new king's portrait has been released, sparking excitement among numismatists and royal enthusiasts alike.
The Perth Mint witnessed long queues of eager collectors and enthusiasts waiting for the new coin.
This release comes after the passing of Queen Elizabeth II in September 2022, whose effigy had graced Australian currency for an impressive 70 years.
A new $1 coin featuring King Charles III has been released. Source: Perth Mint
The new collector coin, minted in pure silver, is a limited edition release with only 7,500 pieces available.
Despite its face value being just $1, the coin is retailing for $130, largely due to the intrinsic value of the silver it contains.
However, its worth extends beyond the monetary value for collectors, representing a significant moment in Australian numismatic history.
The coin was sold online within hours of its release, reflecting the high demand and anticipation surrounding this royal currency facelift.
'Charles is the sixth monarch to appear on the hundreds of millions of coins we have struck over the past 125 years and represents a new era for Australian numismatics,' said Neil Vance, Perth Mint’s General Manager of Minted Products.
The effigy of King Charles III on the collector coin faces left, a tradition dating back to at least the 17th century.
Interestingly, unlike his predecessor, Charles's coin portrait does not feature a crown, a decision made by the king himself.
The coin's release has stirred a sense of nostalgia and excitement among Australians.
Some queued up outside the mint as early as 11 p.m. the night before the release, hoping to secure a piece of history for future generations.
The front of the collector coin, part of the Australian Kangaroo series, features a bounding kangaroo surrounded by rays of sunlight.
It also bears a 'P125' mint mark, celebrating the Perth Mint’s 125th anniversary in 2024.
The Royal Australian Mint manufactured the first coins featuring King Charles III, which entered circulation in December.
His portrait was minted on 3.5 million $1 coins before they were distributed to banks.
However, coins bearing the image of the late queen will remain in circulation until they are naturally phased out due to wear and tear.
The Australian currency has seen several changes since its inception. The first coins used by European settlers were British, but as the colony grew, Spanish, Dutch, and local currency were also used.
It wasn't until 1910, after the federation of the colonies, that the first national Australian coins were introduced.
The effigies of monarchs have always been a significant part of Australian coins. Some monarchs include King George V, King George VI, and Queen Elizabeth II—who held the longest reign on Australian currency.
The tradition of changing the direction of the monarch's effigy with each new reign dates back to the 17th century.
This practice is believed to have started with Charles II of England, who wanted his coins to be distinct from those of his predecessor and father, Charles I.
You can watch 9 News Perth’s coverage of the coin launch here:
What are your thoughts on the new coin, members? Do you plan on adding it to your collection? Share your thoughts in the comments below.
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