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Australia's new $5 note will not feature Britain's King Charles III, but a new design that honors the culture and history of the first Australians. The design will replace the portrait of Queen Elizabeth II. This decision was taken after consultation with the Australian government. The bank will consult with First Australians on the design of the $5 note, which could take several years to issue.
Meanwhile, the current $5 bill will continue to circulate and will remain legal tender even after the new bill is introduced. Officials have also said that existing coins bearing the Queen's image will remain legal tender "in perpetuity".
King Charles III will continue to feature on the coins, which the Royal Australian Mint is expected to begin producing in the second half of this year. Billions of banknotes and coins around the world featuring the portrait of Queen Elizabeth II are in the process of being replaced following her death last September.
For many people in Great Britain there has never been a coronation, they have never seen any monarch other than Queen Elizabeth II, yet her son, Charles, will be crowned in May. However, at that ceremony, the new monarch is bucking tradition and will refuse to conform to the monarch's centuries of traditional royal attire. Charles has chosen to refuse to wear it, instead preferring a military outfit for the historic event.
We recall that the crown that King Charles will wear at the coronation was removed from the Tower of London in a top-secret operation before it was resized. St Edward's Crown was transported with armed guards to a secret location where it will now be resized for the coronation of King Charles on Saturday 6 May at Westminster Abbey.