TO celebrate King Charles’ coronation, several commemorative coins have been released.
The coronation is right around the corner and is sure to be a grand occasion.
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The King will be crowned on May 6 and the first coins with his image on have already gone on sale.
Charles officially became King following the death of Queen Elizabeth II.
However, it is tradition to wait until a sufficient period of mourning has passed, before crowning the new sovereign.
To mark the occasion, two coins have been introduced.
Here, we explain everything you need to know:
What is a commemorative coin?
A commemorative coin is used to mark a special occasion or significant person.
Many of these coins end up being collector’s items though some countries do issue them out into circulation.
Will there be a King Charles coronation coin?
A collection of coins have launched ahead of the coronation to celebrate King Charles.
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The portrait has been designed by artist and sculptor Martin Jennings and shows King Charles III wearing the Tudor crown.
Royal Mint has launched a collection of coins including a 50p and £5 coin to celebrate King Charles’ coronation.
The portrait has been designed by artist and sculptor Martin Jennings and shows King Charles III wearing the Tudor crown.
The 50p coin will also feature a drawing of Westminster Abbey by The Royal Mint’s designed Natasha Jenkins.
The £5 coin features a design by Timothy Noad of the sacred and symbolic objects used in the coronation ceremony, known as the Coronation Regalia, and the St Edward’s Crown.
Collectors can also get their hands on limited edition pieces in display boxes including a 5-ounce gold coin
For those with a bit more cash to spare, The Royal Mint has launched a 1kg gold coin.
Will these coins be in circulation?
These coins won’t be in circulation, meaning they won’t appear in your spare change.
Circulated coins are the ones you’ll see in your shop change.
Brilliant uncirculated coins are of a higher standard than circulating and bullion coins.
The machines used to strike these coins are polished and finished by hand.
Proof coins are the highest quality coins produced by the Royal Mint and are all hand-finished.
How much do King Charles’ coronation coins cost?
It depends on where you’re getting it from.
The 50p coins have been available since April 24 for between £11 and £1,220, while the £5 coins are priced between £14.50 and £2,995.
People are already flogging them on sites such as eBay.
At the time of writing, an eBay seller sold a 50p coronation coin for £100 and a £5 coin sold for £150.
The 5-ounce gold coin was going for £12,725 on The Royal Mint website.
At the time of writing, the most expensive we could see is the 1kg gold coin going for a huge £77,565.
Is the Queen Elizabeth II coronation coin worth anything?
People lucky enough to still have a Queen Elizabeth coronation coin might be able to get a few bobs for it.
The Royal Mint has a 1953 commemorative shilling selling for £35.
While sites like Etsy are selling one for £16.
However, at the time of writing, an eBay seller was selling one for £1,953 though this hadn’t yet been sold.
Of the completed listings, we saw one that went for £14.99.
If you’re after this coin or have one to spare, do shop around first to see what different sites are selling it for.
The coins that are in circulation (and not made for her coronation) with the Queen on will remain legal tender and in active circulation for many years to come.
Roughly 27billion coins circulating across the UK feature her portrait.
But they will be replaced over time as they become damaged or worn and to meet demand for additional coins.
In the past, it’s been normal for coins featuring different monarch’s faces to co-circulate.
This is to ensure a smooth transition with minimal environmental impact and cost.
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