More than a year after the Queen's death, Australia has issued coins with the portrait of King Charles III. introduced. The first batch of 3.5 million one-dollar coins have been delivered by the Royal Australian Mint to banks across the country, 9News reported on Thursday. Little by little they would now be put into circulation. Collector and investment coins with the king's face are expected to go on sale early next year, it said. The Australian coins that bear the face of the late Queen Elizabeth II will remain valid after 2023.
Deputy Finance Minister Andrew Leigh said the launch of the coins was a significant event for the Commonwealth country. "For most Australians, it will be the first time they have held a dollar coin with a king in their hands." Elizabeth II was crowned before Australia switched its currency to dollars and cents in the 1960s.
According to a centuries-old tradition, successive monarchs look at coins in different directions: the Queen looked to the right, Charles now looks to the left. Elizabeth II's face also adorns the Australian five dollar banknote. However, the Australian Central Bank announced at the beginning of the year that the portrait should be replaced with a different design and not with the new ruler.