The coin features an image of Westminster Abbey where the Coronation took place in May which was designed by the Royal Mint coin designer, Natasha Jenkins.

Five million coins have been issued by the Royal Mint to banks and post offices today.

It is the second 50p coin to enter circulation with King Charles’s portrait on and the first came out in December 2022. The image of the king was designed by sculptor Martin Jennings.

The image of the king on the newest 50p coin is uncrowned unlike the commemorative Coronation coins unveiled earlier this year. Many of these coins are still for sale on the Royal Mint website with prices from £11 to £2,995.

There are also still around 27 billion coins in circulation which feature the image of the late Queen Elizabeth II which remain legal tender.

The Royal Mint said it anticipates the new coins to be popular and said 70,000 new collectors had bought a collectable coin since September 2023.

‘A piece of history in their change’

Rebecca Morgan, director of commemorative coin at The Royal Mint, said: “We are delighted to announce that five million 50p coins produced to mark His Majesty King Charles III’s coronation will enter circulation from today.

“This is a special moment for the nation, as members of the public will have the opportunity to find a piece of history in their change. We anticipate the coronation 50p coins will be highly sought after among coin collectors and members of the public keen to own a piece of British history.

“The Royal Mint has had the honour of striking coins for every British monarch since Alfred the Great and we are proud to continue that long history with the introduction of His Majesty’s official coinage.”