A new 50 pence coin will start circulating in the United Kingdom’s economy to commemorate King Charles III May's coronation. The Royal Mint announced they will distribute 50 pence coins worth about 5 million to bank branches and post offices across the country. The coin features a unique design for celebrating the 74-year-old British Monarchy after King Charles's coronation on 6th May. The announcement marked the second King Charles III official portrait 50 pence coin appearance.
Meanwhile, the Royal Mint announced the first memorial coin circulation in December 2022. The Mint released the memorial coins with King Charles III's portrait last year as a historic transition to King Charles III from Queen Elizabeth II. The Royal Mint’s Director of Commemorative Coin, Rebecca Morgan, explained that this event marked a significant occasion. She said it was a special moment for UK citizens as they would find the history piece in shops.
Natasha Jenkins, the Royal Mint Coin Designer, designed the coin’s reverse side to showcase King Charles’s coronation site at the ionic London’s Westminster Abbey. Natasha added the King’s official cipher at the design center to symbolize the King's crowning in London. The 50 pence heads side or obverse side has King Charles II's official portrait, revealed last year in September. In general, King Charles II personally approved the image after Martin Jennings, a renowned British sculptor, crafted it.
The crucial point is that all new 50 pence coins in the UK economy will showcase King Charles III's uncrowned portrait to distinguish them from memorial coins the Royal Mint introduced last year. Overall, collectors from over 89 nations have purchased the coin as it has garnered global popularity. But coins bearing King Charles III's late mother, Queen Elizabeth II, will remain in circulation and have active legal tender.
The United Kingdom has a customary practice of circulating or co-circulating coins with monarchy portraits. The approach helps to ensure an easy transition with minimal impact on cost and prices. The country has about 27 billion Queen Elizabeth II coins in circulation, but King Charles II coins will gradually replace them over time due to wear & tear. Overall, the Royal Mint explained that replacing Queen Elizabeth II coins will help cater for additional coin demand.
Monarchs’ portraits on coins have been ongoing since the 17th century, with the incoming monarch’s portrait facing the opposite direction as their predecessor. While Queen Elizabeth II's portrait on coins faced the right side, King Charles III's portrait faced the left. Above all, the notes are subject to the same history since the sovereign’s portrait often appears on the front side. The UK recently introduced currency featuring J.M.W. Turner, the painter, Jane Austen, the novelist, and Prime Minister Winston Churchill.
