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Say hello to Australia's newest currency! Over a year post the Queen's demise, the land Down Under has introduced 1-dollar coins sporting the visage of King Charles III. Dubbed as a substantial event, these coins, a whopping 3.5 million strong, have already found their way into banks nationwide, slowly making their way into circulation. According to 9News, collectible and investment coins, adorned with King Charles III's likeness, are slated for release early next year. Fret not, your Queen Elizabeth II coins won't be rendered obsolete until 2023 and beyond.
Deputy Finance Minister Andrew Leigh called the introduction of these coins a noteworthy event for the Commonwealth country, noting that it's the first time most Aussies will get to clutch a dollar coin with a king's mug. Queen Elizabeth II ascended the throne before Australia embraced the dollar as currency, making our now-sovereign a historical first.
The ancient monarchical custom endures with Charles III following suit. Keeping with tradition, the new king's face now gazes to the left on our coins while his mother, Eliza II, graced the Australian five-dollar note, her portrait locked in a rightward gaze. In contrast, the Reserve Bank of Australia announced earlier this year that the five-dollar bill would undergo a facelift ditching Eliza's image.
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Despite the shift, your Elizabeth II coins won't become worthless past 2023, highlighting Australia's lasting bond with the motherland. The introduction of these 'Charles III' dollar coins showcases Australia as a steadfast participant in the Commonwealth traditions, continuing centuries-long monarchical customs unabashedly.
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