Final Queen Elizabeth II £1 coins released: Could be worth more than face value

The Royal Mint has released the last set of £1 coins featuring the late Queen Elizabeth II. More than 23 million of these coins will now enter circulation across the United Kingdom (U.K.).

These coins, dated 2021 and 2022, are the final ones to carry the Queen’s portrait. Officials at the Royal Mint called it a “pivotal moment” in the history of British coinage. At the same time, 7.5 million new £1 coins featuring King Charles III are also being issued.

Rebecca Morgan, director of commemorative coin at the Royal Mint, said this release shows the “physical representation of our monarchy’s transition.” She added that spotting one of these coins in change may encourage people to start coin collecting.

The Mint explained that while the coins were struck years ago, they are being released now due to demand for £1 coins. The 2022 edition will become the rarest in circulation, with just over 7.7 million released.

At present, there are about 24.7 billion coins in use across the United Kingdom (U.K.). King Charles’s coins make up only a tiny fraction of that just 0.004 percent. Last year, 2.9 million £1 coins with his image were circulated.

The new £1 coins feature a bee design on the back, reflecting King Charles’s interest in nature. They are part of a full set of redesigned United Kingdom (U.K.) coins, from 1p to £2, which will also include animals like the puffin, red squirrel and dormouse.

The new design have larger numbers, making it easier for children to learn counting.

The change in design followed the Queen’s death in September 08, 2022 and King Charles’s accession to the throne.

All coins with the late Queen’s face will remain legal and continue to be used alongside the new coins. Since coins generally last around 20 years, both sets will circulate together for many years.

The Royal Mint has produced coins for British monarchs since the time of Alfred the Great, and this new issue continues that long tradition.