Billions of coins feature Queen Elizabeth II’s portrait. What happens now?

Queen Elizabeth II's representation features connected each of the 29 cardinal coins presently successful circulation successful the U.K., arsenic good arsenic currencies of Commonwealth countries including Australia, New Zealand and Canada.

As King Charles III is present the monarch, coins bearing his representation volition travel into circulation, but wealth featuring the queen isn't going to beryllium phased retired anytime soon, according to Dominic Chorney from coin specialists A.H. Baldwin & Sons.

"I don't ideate there'll beryllium a concerted effort to region her coins," Chorney told CNBC.

"The coins volition beryllium mislaid implicit time, but I ideate there'll beryllium coins of Queen Elizabeth circulating for decades," helium said.

Pound coins tin typically circulate for astir 30 years without becoming excessively worn for use.

Before decimalization happened successful aboriginal 1971 — the process which saw the lb sterling displacement from denominations of pounds, shillings and pence to conscionable pounds and pence — it was commonplace to spot images of erstwhile monarchs connected money.

"[There] would've [been] coins successful circulation of Queen Elizabeth II, George VI, George V. Maybe adjacent immoderate really, truly aged coins featuring Queen Victoria," Chorney said.

And present arsenic the coins bearing the precocious queen's representation are inactive ineligible tender, there's nary existent crushed to effort to region them, helium said.

"It means you'll person coins of King Charles III circulating with coins of Queen Elizabeth II, which is unsocial successful modern past due to the fact that cipher remembers seeing 2 antithetic monarchs successful circulation," Chorney said.

Using imagery of the monarch connected coins is simply a contented that dates backmost thousands of years. It symbolizes powerfulness and besides guarantees a currency, according to Chorney.

"A currency tin beryllium trusted if it's backed by the state," Chorney said, "and the astir evident awesome of the state, since the Roman times, is the emperor, the ruler, the king."

Ever since 1659 astatine the extremity of the Protectorate — a clip erstwhile the U.K. caput of authorities was the Lord Protector Oliver Cromwell alternatively than a king oregon queen — monarchs' portraits connected coins person faced other directions with each caller coronation. 

When Charles II took to the throne successful 1661, helium opted for his representation to beryllium facing his near — the other mode to Cromwell, who had his begetter Charles I executed. 

Rumor has it that the determination represented the caller monarch turning his backmost connected Cromwell's enactment mentation of Britain, and the contented continued each clip a caller monarch took the throne.

The lone interruption from contented astir came from Edward VIII. His coins were to look the aforesaid mode arsenic his father's, to seizure his much flattering side, but arsenic helium abdicated little than a twelvemonth aft helium became king his coins were ne'er issued. His member and successor, George VI, opted to look the other mode to his father, and truthful the contented was restored.

Five antithetic portraits of Queen Elizabeth II person featured connected British coinage since she ascended to the throne successful 1952. The astir caller was designed by Jody Clark, and it was the archetypal to beryllium created solely from photographs alternatively than a sitting with the queen.

The Royal Mint, the authoritative shaper of the U.K.'s coins, declined to remark connected the caller wealth acceptable to beryllium minted with King Charles III's portrait, but it provided the pursuing connection via email:

"The Royal Mint worked with Her Late Majesty passim her reign – detailing her travel from caller Queen to respected caput of authorities crossed 5 coin portraits, and ensuring each caller UK coin received her idiosyncratic seal of approval. The singular bequest of Britain's longest serving monarch volition unrecorded connected for galore years to come."

The Bank of England, which issues the U.K.'s banknotes, confirmed slope notes featuring the representation of the queen would proceed to beryllium ineligible tender and said further announcements astir the currency would beryllium made "once the play of mourning has been observed."