Key Points
- The first step is for the Royal Australian Mint to consult with its British counterpart to obtain a portrait of King Charles III.
- Buckingham Palace will then approve the image, and there will be testing before the roll out of production.
- The new coins will be expected to reach Australian banks, pockets, purses and registers sometime next year
The Royal Australian Mint CEO Leigh Gordon says that although there has been a gradual decline in the need for coins over the years, their relevance remains.
