It the portrait of King Carlos III on which the statue is based the future coin was unveiled this Friday by the British Mint, the Royal Mint.

The image will appear on two coins in a special series commemorating the life of Queen Elizabeth II: one for 5 pounds sterling and one for 50 pence.

“They will enter circulation in the next few months, probably around December,” the Royal Mint said in a statement.

How are new coin images selected?

Official portrait will adorn future coins with a statue of Carlos III, by the sculptor Martin Jenningsmade from photos and approved by the king.

“This is the smallest work I have ever seen”, he comments, stating he was moved “by the fact that so many people went to see it and own it”.

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According to tradition, the portrait of the king faces left, as opposed to the portrait of Queen Elizabeth II on the currently circulating coinage, explains the Royal Mint.

The pieces with the statue of the king will bear an inscription in Latin which, translated, would be:

“King Carlos III, by the Grace of God, Defender of the Faith.”

There will be a commemorative coin of Queen Isabell II

The other side of the commemorative coin 5 pounds will bring two new portraits of Queen Elizabeth IIdesigned by artist John Bergdahl in collaboration with the Royal Mint.

“All British coins bearing the image of Elizabeth II will remain legal and in circulation. Historically, coins with images of different kings circulated at the same time,” said the Royal Mint, which “imprinted portraits of the royal family on coins for more than 1,100 years.”

The agency determined that there are currently 27 billion coins in the UK with a statue of Elizabeth II and these will be replaced gradually as they become damaged.