From $2 to 5c: Major change to all Aussie coins from next week

Get ready to say goodbye to Queen Elizabeth on new Aussie coins. For the first time in nearly 60 years, there will be a new monarch on the full suite of coins in Australia.

King Charles’ effigy began replacing the Queen’s on the head’s side of coins late last year, drawing some mixed responses from Aussies. The change marked the first time in decades that Aussie coins featured a King rather than a Queen.

Now, the first proof set of coins featuring the King’s portrait has been unveiled by the Royal Australian Mint. The set, which includes all six standard Aussie coins, will be sent to Buckingham Palace as a gift for King Charles as is tradition.

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Mint CEO Leigh Gordon said the change of monarch on coins was a “significant undertaking” and involved consultation with a range of stakeholders including the Royal Mint in Wales, the Australian government and Buckingham Palace.

“The new $1 coin is now in circulation and the 5c and $2 rolls were recently released,” Gordon said.

“Next Tuesday will be a momentous occasion for Australia. The King Charles effigy will be available on all six circulating coins.”

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New coin sets for collectors

On Tuesday May 21, the Mint will release the King Charles 2024 Six-Coin Coin Year Set ($150) and King Charles 2024 Six-Coin Uncirculated Year Set ($40) to the general public.

Collectors will need to enter a ballot, stop by the Mint Coin Shop in Canberra or try calling the Mint Contact Centre to get their hands on the sets. They can also purchase them from participating authorised distributors.

The ballet is run by e-commerce platform EQL, who previously told Yahoo Finance that collectors who had missed out on previous ballots were more likely to win in future ones with the same retailer.

While Aussies will soon see more King Charles coins circulating in their day to day, it’s also worth noting that existing coins featuring Queen Elizabeth are still legal tender and will remain in circulation.

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