Collectors on the lookout as first £1 coins featuring King Charles enter circulation

A public poll found that the new £1 bee coin was the favourite, closely followed by the 2p red squirrel

The new £1 coin which is now in circulation (Royal Mint/PA)

Collectors are on the lookout after the first £1 coins featuring the King entered circulation.

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 obverse or “heads”.

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.

Rebecca Morgan, director of commemorative coin 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.

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

The King, at Balmoral Castle on Monday, acceded to the throne in September 2022 (Jane Barlow/PA) (PA Wire)

A total of 2.975 million £1 coins are being issued to banks and Post Offices, and they will co-circulate alongside ones displaying the effigy of the late Queen Elizabeth II, which will be replaced over time as they become damaged or worn.

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 new pressing of the £1 pound coin at the Royal Mint in Llantrisant, South Wales (Royal Mint/PA)

Following commemorative coins bearing the King’s portrait, the first Charles III definitive – the 50p depicting an Atlantic salmon – was released in November 2023.

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.

A public poll by the Royal Mint found that the £1 bee coin was the favourite, closely followed by the 2p red squirrel.

They also have a repeating pattern of three interlocking Cs, which gives a nod to history through the cypher of Charles II.

Old £1 coins with the late Queen Elizabeth II portrait (PA Wire)

The number indicating the value of the coin has also been enlarged to help children with their counting skills.

Banknotes with the King’s portrait went into circulation in June, marking the first time that the sovereign has been changed on the Bank of England’s notes.