2023-12-08 14:17:52
More than a year after the death of Queen Elizabeth II on September 8, 2022, Australia has now issued coins with the portrait of King Charles III. introduced. The first batch of around 3.5 million one-dollar coins have been delivered by the Royal Australian Mint to banks across the country. This was reported by the station 9News on Thursday.
Gradually these coins would be put into circulation as common currency. Collector and investment coins with the face of the British king are expected to go on sale at the beginning of next year, it said. Such coins have their fans all over the world. Collectors often pay high prices for rare examples of coins and medals. There is a separate market for it.
The Australian coins bearing the face of the late Queen Elizabeth II will remain valid after 2023. The launch of the coins is a significant event for the Commonwealth country, said Deputy Finance Minister Andrew Leigh. For most Australians, it is the first time they have held a dollar coin with a king in their hands. Elizabeth II was crowned before Australia changed its currency to dollars and cents in the 1960s.
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The US dollar is probably the best-known dollar currency and is still considered the most important reserve currency in the world. There are also some other larger ones, such as the Australian and Canadian dollars or the New Zealand, Hong Kong and Singapore dollars. But there are also dollar currencies elsewhere in the world, for example on the Caribbean islands of the Bahamas, Barbados, Cayman and Jamaica.
According to a centuries-old tradition, successive monarchs look in different directions on coins, Australia said. The Queen looked to the right, King Charles now looks to the left. Elizabeth II’s face also adorns the Australian five dollar banknote. However, the Australian Central Bank announced earlier this year that this portrait should only be replaced with a different design and not with the new ruler.
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