On Thursday, the Royal Australian Mint announced that the Australian dollar coin will feature the image of King Charles III, more than a year after he came to the throne after the death of the late Queen Elizabeth II.
The chief executive of the Royal Australian Mint Leigh Gordon said that almost ten million one-dollar coins will be in the market by Christmas 2023.
Gordon told AP: "As Australia's circulating coin manufacturer, we appreciate the importance of the transition, and we are applying our considerable skill and expertise to producing Australia's coins bearing the new royal effigy."The Assistant Minister for Treasury Andrew Leigh said the government decided to not rush the coin transition after the queen's, highlighting: "Certainly, we're keen to put out as many new coins with the king's face on them as quickly as possible."
Regarding the rest of the coin dimensions, their release will be based on the demand from the banks.
Earlier, the Royal Mint in London designed the king's image for the new coins, approving that the design could be used in all the Commonwealth countries.
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