11 September 2024
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The first £1 coin featuring the official coin portrait of His Majesty King Charles III entered circulation during the week of 19th August, with a total of 2.975 million £1 coins being issued to post offices and banks across the UK.
The new £1 coin is part of HM King Charles III’s definitive collection, which has been inspired by the flora and fauna of the British Isles. The new British Bees £1 coin is one of eight new designs that will appear on the United Kingdom’s coins, from the 1p to the £2 coin. Animals such as the hazel dormouse, puffin and Atlantic salmon are included on the new definitive coins and all species are in active conservation programmes. Each of the new coins has been created with the support of the Royal Horticultural Society and the Royal Society for the Protection of Birds (RSPB).
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Above: Around 3 million of the new £1 coins went into circulation during the week of the 19th August
The designs of the new coins were revealed in October and production began with several million struck by The Royal Mint. The Atlantic Salmon 50p was the first of the new coin designs to enter circulation at the end of 2023. The remaining coin denominations are expected to enter circulation throughout the rest of the year, in line with demand. In a poll hosted by The Royal Mint, the new £1 coin was crowned as the favourite amongst the new designs. The 2p, which depicts the Red Squirrel, coming in a close second.
Above: The new 50p depicting the Atlantic Salmon went into circulation in October 2023
Related article: Britain's new 'definitive' coins revealed
The size and shape of the new coins has remained unchanged for a number of reasons. Coins are still widely used in vending machines, self-checkouts and parking meters. The numbers on the new coins have also been enlarged, in order to help children identify the numbers and learn to count.
Related article: First King Charles III coins go into circulation
What happens to coins introduced under Her Majesty Queen Elizabeth II?
These new designs, known as definitives, mark the transition of every day coinage that will be used in the UK. Definitive coins feature standard designs which are seen on the majority of UK currency and these designs can stay the same for years or even decades.
The previous set of definitive coins was introduced in 2008 under Queen Elizabeth II and featured the shield formation. There are around 29 billion of these coins still in circulation in the UK. These coins will gradually be replaced over time as they become worn or damaged.