First King Charles £1 coins enter circulation this week – how to get one

THE FIRST £1 coins featuring the King have entered circulation, here is how you get one.

Nearly three million of the new designs will be making their way into people’s pockets and tills across the country this week, via Post Offices and banks throughout the UK.

The £1 coin depicts a pair of British bees on the “tails” side, in honour of the King’s passion for conservation and the natural world, and Charles’ official coin effigy on the head.

Rebecca Morgan, director of commemorative coins at The Royal Mint, said: “The Royal Mint has made the circulating coinage of each of Britain’s monarchs since Alfred the Great and it is an honour to reveal that King Charles III’s £1 coin is now in circulation.

“We know there’ll be a buzz of excitement amongst collectors and the public to get this special piece of history in their change.”

She added: “We hope the designs across all denominations spark important conversations about the conservation of these important species.”

A total of 2.975 million £1 coins are being issued to banks and Post Offices, and they will be available alongside ones displaying the effigy of the late Queen Elizabeth II.

However, these coins will be replaced over time as they become damaged or worn.

It is worth asking your local Post Office ahead of time if they have some available, as it is not guaranteed every branch will.

The £1 coin is one of eight designs ranging from the 1p to the £2, inspired by flora and fauna to reflect the King’s commitment to the environment, which were created as new definitives – standardised designs seen on the majority of official currency.

The other designs, which will be introduced in line with demand, are the 1p showing a hazel dormouse, the 2p red squirrel, the 5p oak tree leaf, 10p capercaillie grouse, 20p puffin, and the £2 with the national flowers – rose, daffodil, thistle and shamrock.

It comes as bank notes featuring King Charles came into circulation in June.

They feature His Majesty‘s portrait on the existing designs of all four banknotes, with no other changes made.

The switch from currency featuring the late Queen Elizabeth II will be gradual.

New notes and coins featuring the King’s portrait will only be issued to replace worn-out currency or to meet any increase in demand.

So, with more than 4.6billion notes in circulation, worth some £82billion, and more than 29billion coins, it could be some time before one lands in your wallet.

Meanwhile, coins with the new King entered circulation at the beginning of December 2023.

The 50p officially entered circulation and is available from Post Offices around the UK.

In keeping with tradition, The King’s portrait faces to the left – in the opposite direction to the late Queen.

On the new 50p coin featuring King Charles III, the Monarch is not wearing a crown.

This is because Kings are not often depicted wearing a crown on coins, although Her Majesty Queen Elizabeth II had one.

Historically it is the case that coins featuring different monarchs do co-circulate, ensuring a smooth transition with minimal environmental impact and cost.

How to spot rare coins and banknotes

Rare coins and notes hiding down the back of your sofa could sell for hundreds of pounds.

If you are lucky enough to find a rare £10 note you might be able to sell it for multiple times its face value.

You can spot rare notes by keeping an eye out for the serial numbers.

These numbers can be found on the side with the Monarch’s face, just under the value £10 in the corner of the note.

Also if you have a serial number on your note that is quite quirky you could cash in thousands.

For example, one seller bagged £3,600 after spotting a specific serial number relating to the year Jane Austen was born on one of their notes.

You can check if your notes are worth anything on eBay, just tick “completed and sold items” and filter by the highest value.

It will give you an idea of what people are willing to pay for some notes.

But do bear in mind that yours is only worth what someone else is willing to pay for it.

This is also the case for coins, you can determine how rare your coin is by looking a the latest scarcity index.

The next step is to take a look at what has been recently sold on eBay.

Experts from Change Checker recommend looking at “sold listings” to be sure that the coin has sold for the specified amount rather than just been listed.

People can list things for any price they like, but it doesn’t mean it will sell for that amount.

We explain further how you can find out if you have a rare coin worth thousands sitting around the house.