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The Royal Mint announced the news and more than 23 million of these coins are being released alongside 7.5 million new King Charles III £1 coins.
The official maker of British coins said the last of the Elizabeth II coins, dated 2022, are the rarest £1 coins in active circulation.
Significant moment for UK coinage as final batch of Queen Elizabeth II £1 coins enter circulation
The historic transition – with the dual release of almost 31 million coins – represents a significant moment for UK coinage, as the nation witnesses the changeover from Britain’s longest-reigning monarch to her son and heir on the £1 denomination, the Royal Mint said.
The Queen’s £1 coins will be the final ones bearing Elizabeth II’s portrait to enter circulation.
Rebecca Morgan, director of commemorative coin at the Royal Mint, said: “This release represents a pivotal moment in British coinage history.
“As we release more of the King Charles III £1 coins into circulation alongside the final coins of Queen Elizabeth II, we’re witnessing the physical representation of our monarchy’s transition.
“This dual release creates an exceptional opportunity for both seasoned numismatists and those new to coin collecting.”
Brits urged to check their change for rare Queen Elizabeth II £1 coins
The Royal Mint is encouraging the public to check its change over the coming weeks, as the new coins begin to appear in pockets and tills across the nation.
Ms Morgan added: “Finding these new coins in your change could spark a rewarding hobby that connects you with the heritage, history and craftsmanship behind British currency.”
All UK coins bearing the Queen’s portrait will remain legal tender and in active circulation to allow a smooth transition and minimise the environmental impact and cost.
Which coins have King Charles’ portrait on them?
Since the introduction of the King’s effigy on UK coinage in 2023, the 50p and £1 are the only denominations with Charles’s portrait to have entered circulation so far.
The King’s £1 coins feature an intricate bee design on the reverse and are part of the Definitive collection, inspired by the flora and fauna of the British Isles.
Some 2.975 million £1s with the King’s effigy were released in August last year.
In total, there are around 24.7 billion coins in circulation across the UK, with the King’s coins representing only around 0.004% of those, making his new coins highly desirable to collectors.
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Royal Mint proud to have struck coins of British monarchs for more than 1,000 years
The Royal Mint said: “A coin is much more than its face value. It is a year-dated piece of history that can reveal stories about the past.
“For more than a thousand years we have struck the coins of British monarchs, beginning with Alfred the Great and leading up to the present with His Majesty King Charles III.
“We have also developed the most visually secure bullion coin in the world, celebrated anniversaries, achievments and people with commemorative coins and until 2024, produced coins for many countries across the globe.”
