LONDON: King Charles III – the new monarch of Great Britain – is all set to replace Queen Elizabeth on coins, banknotes and also stamps of the country.

King Charles’ cypher will also appear on government buildings and red mail pillar boxes.

The new monogram to be used by Charles as the UK’s monarch was unveiled and used for the first time on Tuesday.

The announcement was made by the Buckingham Palace.

“The first coins with effigy of His Majesty King Charles III will enter circulation in line with demand from banks and post offices,” said Anne Jessopp, the chief executive officer at Royal Mint.

“This means the coinage of King Charles III and Queen Elizabeth II will co-circulate in the UK for many years to come.”

The Royal Mint has estimated that there are at least 27 billion coins bearing an effigy of Queen Elizabeth, who passed away earlier this month.

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Meanwhile, the Bank of England (BOE) said in a statement has stated that currency emblazoned with the image of King Charles III is not expected to enter circulation until mid-2024.

However, the portrait of the King will start featuring on banknotes by the end of this year.

Charles will appear on four bank notes — the 5, 10, 20 and 50 pound notes.

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