Money bearing the Queen’s face will remain in circulation and the change to currency with King Charles will be gradual
Coins and notes bearing an image of Queen Elizabeth will gradually change, to be replaced with money bearing the face of the new monarch, King Charles III.Coins and notes bearing an image of Queen Elizabeth will gradually change, to be replaced with money bearing the face of the new monarch, King Charles III.The face of the late Queen Elizabeth II will soon stop adorning Australian coins and the $5 note.
“Since 1953, there have been six different portraits of the Queen issued on our coins, slowly showing the process of ageing,” he said. “2018 is the most recent version, but others still remain in circulation.”The new coins will use an image supplied by the UK Royal Mint and are likely to featureThis would continue a royal tradition dating back to Charles II in 1660.
From this time, coins with the portrait of both sovereigns will comingle in circulation. But as the transition will take some time, coins will continue to be minted bearing the Queen in weeks to come.As with coins, there’ll be a choice for some time between a new one with Charles III and one with Elizabeth II, and “all existing” $5 notes can continue to be used.
It’s likely to be a costly process. The RBA’s latest suite of polymer notes – called the NGB program – took 10 years and $37m to complete.
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