00:00 Cash may no longer be king, but the king is now on the cash.
00:07 This will be the first time for most Australians that they have held a circulating coin which has a king on it rather than a queen.
00:15 After 70 years and more than 15.5 billion coins, the face of Queen Elizabeth on our legal tender will soon be replaced by her son, King Charles III.
00:27 The long design process required approval from Buckingham Palace.
00:31 Queen Elizabeth II, face to the right. As is tradition, King Charles III will face to the left.
00:38 In the age of electronic banking, there'll be a smaller run of just 10 million new $1 coins minted this year.
00:46 If you use cash and you get change, you increase your chance of getting a coin.
00:50 The other denominations will be rolled out next year, with the government and coin collectors dismissing speculation these could be the last ever new coins.
01:00 No country in the world has phased out cash.
01:03 When I have to go to the shops to buy something, I use cash on coins.
01:08 I'm going to be very excited to welcome it into my collection, so I'm going to keep an eye out.
01:14 The first iteration of coins bearing King Charles III's face will be rolled out by Christmas.
01:20 That's around a year after the UK counterparts.
01:23 But with machines here at the Royal Australian Mint that produce up to 600 coins a minute, this is not something they want to get wrong.
01:31 Ensuring these new coins are literally fit for a king.
01:35 [BLANK_AUDIO]
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