When will King Charles III coins be distributed?
When will King Charles III coins be distributed? I will attempt to summarise the most likely situation for UK coins. The blog will explore many areas such as 2022-23 circulation issues, 2022-23 bullion issues, 2022-23 commemorative issues, new monarch portrait from Queen Elizabeth II to Charles III. This is not final due to no comment from The Royal Mint yet.
2022 Bullion Issues
As with circulating coins, we expect gold, silver, and platinum bullion coin issues to continue with QEII 5th portrait and titles. Coins therefore will use the Queen Elizabeth II portrait at least until the year end, and probably into early 2023. This will include Britannias and sovereigns.
2022 Circulation Issues
All normal circulation issues of coins will continue to be for Queen Elizabeth II (QEII) and dated 2022 until at least the end of the year (2022), and are likely to continue in production and issued into January 2023 or later. This is standard practice at most mints worldwide.
2022 Commemorative Issues
This is slightly more difficult to forecast. Most commemorative coins which have already been approved (by The Privy Council) will be dated 2022 and have the queen's portrait. There may be some other commemorative coin issues which have been planned, but not approved. Whether these will gain approval is uncertain, but there is no real reason they should not be.
2023 King Charles Coins
On Friday 30th September 2022, the first King Charles III coinage portrait was unveiled on the 2022 50 pence. Furthermore, King Charles III's portrait faces left on the 50 pence coin and does not wear a crown just like previous kings before him.
Also, the text on the new coin says "CHARLES III • D • G • REX • F • D • 5 POUNDS • 2022" that can be translated as King Charles III, by the Grace if God, Defender of the Faith.
The Royal Mint announced the new Charles III portrait has been confirmed to appear on all UK coinage that ranges from 1 penny to £2 coins. Moreover, the £5 crown coin will feature the new memorable reverse design that shows Queen Elizabeth at the start and end of her 70-year-long reign as Queen of England.
2023 Circulation Issues
- It is almost certain that no 2023 circulation coins will be produced of issued with the queen's portrait and titles.
- All 2023 dated circulation will be in the name of King Charles III, and bear his portrait.
- We could see these start to enter circulation as early as January 2023, but it could be later in the year.
2023 Bullion Issues
Subject to the approval process outlined above, it is possible that precious metal bullion issues could commence for Charles III dated 2023, as early as January, although it could be later.
2023 Commemorative Issues - QEII
Two 2023 commemorative issues have already been released with the queen's portrait and titles, with a third one imminent. There may be a small number of other issues which have already received approval, and that will therefore be issued as planned, however some may be delayed, cancelled, or changed.
2023 Commemorative Issues - Charles III
It is certain that most 2023 UK commemorative coin issues will be in the name of our new king, Charles III. As with most commemoratives, these will be issued throughout the year. The earliest could be as early as January 2023 but might be delayed. It is possible that 2023 mint and proof coin sets could be issued in the last months of 2022, but this remains uncertain at best.
2023 Commemorative Issues - Charles III QEII Memorial
It is certain that the Royal Mint will produce a range of memorial or Celebration of Life commemorative coins for Queen Elizabeth II, dated 2023, and bearing King Charles III portrait on the obverse.
While these could be issued as early as January, I think it likely that these will follow later. They are almost certain to precede the Coronation.
2023 King Charles III Coronation Issues
I had originally omitted this. It must be too early to guess when King Charles Coronation will take place, but undaunted I will take a stab at June. When it occurs, there are sure to be a proliferation of commemorative coin issues by the UK, and other countries including the Commonwealth. It seems highly likely that QEII Memorial issues will precede any Coronation ones.
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