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Coins featuring portrait of King Charles unveiled – as Royal Mint reveals when they will enter circulation | UK News

Coins featuring a portrait of King Charles III will gradually enter circulation from December.

The Royal Mint says his image will appear on 50p coins first – and in keeping with tradition, the King’s portrait faces to the left, the opposite direction to the Queen.

A commemorative £5 coin has also been created that features two new portraits of the late monarch on the back.

Read more: Queen’s death certificate reveals how she died

Image:
The commemorative £5 coin

Nicola Howell, chief commercial officer at the Royal Mint, said King Charles worked closely with sculptor Martin Jennings – and personally approved the effigy.

This was “to make sure there was a seamless empathetic way to end her majesty’s reign and to actually signal the new reign of a new king”.

The Latin inscription surrounding the effigy reads: “:: CHARLES III :: D :: G :: REX :: F :: D :: 5 POUNDS :: 2022” which translates to: “King Charles III, by the Grace of God, Defender of the Faith.”

The effigy could be viewed as softer and less regal than those of previous monarchs.

Chris Barker, from the Royal Mint Museum, described the portrait as “dignified and graceful, which reflects his years of service”.

He added: “I think if you look back on some of the portraits of Elizabeth – particularly her first portrait by Mary Gillick – it was much more idealised.

“This one is much more of the man himself, of the individual, you see the lines in his face, the years of experience, and that humanity coming across.”

The reverse of the commemorative £5 coin features two new portraits of Queen Elizabeth II, showing a younger and older image of the late monarch.

The design was created by artist John Bergdahl in collaboration with the Royal Mint.

It will form part of a wider memorial coin collection.

Ms Howell said: “We expect customers will start to be able to receive the commemorative range from October and then we expect the 50p memorial circulating coin to be appearing in people’s change probably from December.”

The reverse of the 50p features a design that originally appeared on the 1953 Coronation Crown.

It was struck to commemorate Queen Elizabeth II’s coronation at Westminster Abbey, and includes the four quarters of the Royal Arms depicted within a shield.

In between each shield is an emblem of the home nations: a rose, a thistle, a shamrock and a leek.

Read more from Sky News:
When will King Charles banknotes be released?
King Charles’s new royal monogram revealed
King Charles in pictures
The events that shaped Britain’s new King

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Timeline: From Queen’s death to funeral

All UK coins bearing the effigy of Queen Elizabeth II will remain legal tender and coins featuring the new King will co-circulate alongside those of his mother.

Historically it has been commonplace for coins featuring the effigies of different monarchs to co-circulate, helping to minimise the environmental impact and cost.

There are around 27 billion coins currently circulating in the UK bearing the effigy of Queen Elizabeth II. They will be replaced over time as they become damaged or worn and to meet demand for additional coins.

UK to enter recession this year, British Chamber of Commerce says | Business News

The UK will enter recession before the end of this year, with growth expected to be weak into 2024.

That is the latest forecast from the British Chambers of Commerce (BCC), which said it expects the UK economy to record three consecutive quarters of contraction – the definition of a recession – this year.

However, unlike the Bank of England, the BCC expects the economy to grow in 2023, albeit at a very low 0.2%, with a slight increase to 1% in 2024.

The forecast also included unemployment at 3.8% this year before rising to 4.1% next year and in 2024.

Inflation is expected to peak at 14% in the fourth quarter of this year, falling to 5% by the end of 2023 and further to the Bank of England’s target 2% by the final quarter of 2024.

Alex Veitch, director of policy at the British Chambers of Commerce, said “The extreme inflationary pressures already present are only likely to increase as we head towards Christmas; with the UK economy already thought to be in recession.

“Tackling these pressures must be at the top of the new prime minister’s inbox when they take up their position next week.”

Read more:
Food prices in August rose at the fastest rate since 2008
Energy bills to soar for millions as price cap hiked to £3,549
Explainer: Everything you need to know about higher bills

The UK will find out on 5 September if the next prime minister will be Liz Truss or Rishi Sunak, with Ms Truss the front runner.

Mr Veitch said: “Action is needed now, and the BCC has set out a comprehensive plan for government to provide vital support to firms.

“Along with taxation and labour measures, the BCC business support plan includes key asks to help businesses with spiralling energy costs.

“These include COVID-style support by introducing a Government Emergency Energy grant, a temporary cut in VAT on energy bills to 5% to reduce costs for firms and increased regulation of the energy market for businesses by Ofgem.

“Through our extensive research and forecast work, we know the problems currently facing businesses. Time is fast running out, the government must step up to the plate and do what is needed to protect businesses, livelihoods and jobs.”