A generic mock-up or rendering of King Charles III's effigy on a coin. Photo / RBNZ
A generic mock-up or rendering of King Charles III's effigy on a coin. Photo / RBNZ
King Charles III will appear on New Zealand’s circulating and commemorative coins.
But it will be a while before you see his visage on your coinage.
Ian Woolford, Reserve Bank (RBNZ) director of money and cash, said the King had recently approved application of the effigy, or image, designed for the Royal Mint in the UK.
“The King faces to the left in keeping with the convention that the direction changes between sovereigns,” the RBNZ said today.
The previous monarch, Elizabeth II, faced to the right on New Zealand coins.
“While it’s unlikely that New Zealanders will see the new effigy in their change until 2027, it will be seen on our legal tender coins for the first time with the 2024 proof currency set to be produced by NZ Post under licence from the Reserve Bank.”
A banknote featuring an image of King Charles III on show in London. The RBNZ says there are no immediate plans to add a similar effigy to banknotes in New Zealand. Photo / Getty Images
Woolford said the first circulating coin to bear the new effigy will probably be the 10c piece.
The first mintings of the other four denominations – 20c, 50c, $1 and $2 – with the new image are likely to be in 2027.
Coins typically entered circulation about two years after production, the RBNZ said.
“These anticipated timings are based on typical demand and stock levels, which are kept sufficient to deal with any demand spikes or supply chain issues,” Woolford said.
There were no immediate plans to add King Charles’ effigy to banknotes.
“The new coins will have the same physical characteristics as those bearing the effigy of the late Queen Elizabeth II. We will not be withdrawing any existing coins in circulation, and these will remain legal tender,” Woolford said.
“We will update on circulation dates as the time nears, and we’ll also work with cash handling machine manufacturers to confirm that there are no glitches with acceptance of the new coins.”
The RBNZ said an interim New Zealand effigy of the King, by Wellingtonian Stephen Fuller, was approved by the King to appear on legal tender coins in 10 commemorative coin issues.
Those commemorative coins were in production for NZ Post under licence from the Reserve Bank.
