The Royal Mint has confirmed that 23.2 million of these coins, dated and minted in October 2023, will be released across the UK.

The release is due to increased demand for the 5p denomination.

This is the first time the 5p coin will bear the King’s official portrait.

The Royal Mint said the release would offer coin collectors and the general public a chance to find these historic coins in their everyday change.

Since the introduction of the King’s portrait on UK coinage in 2022, collectors have been eager to find these new coins.

However, King Charles coins represent only around 0.2 per cent of the 24.605 billion coins currently in circulation across the UK.

The 5p coins feature an oak tree leaf design on the reverse side, symbolising the tree’s role as a rich habitat for biodiversity in woodlands.

The oak tree has long been associated with monarchs, and the design highlights King Charles’s passion for conservation.

Rebecca Morgan, director of commemorative coin at the Royal Mint, said: “We are delighted to see His Majesty’s first 5p coins entering circulation following public demand.

“The oak leaf design beautifully represents the deep connection between our monarchy and the natural world, reflecting King Charles III’s lifelong dedication to environmental conservation.

“These coins offer the public a wonderful opportunity to discover a piece of living history in their everyday change, and for many, finding one of these special coins could be the beginning of a fascinating journey into the world of coin collecting.”

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Ms Morgan added that it is “rare” for the 5p design to change, with the last design having entered circulation in 2008.

She said: “This makes it not only the first time the 5p depicts His Majesty King Charles III’s effigy, but also the first design change for one of the smallest coins in circulation in 17 years.”

The coins will be available through post offices and bank branches nationwide.

The Royal Mint has also allocated a special quantity to post office branches with “oak” in their name or located near well-known trees.

These branches include The Oaks Post Office in Dungannon, Northern Ireland; Jubilee Oak Post Office, Braintree in Essex; Oaktree Road Post Office, Southampton; Four Oaks, Sutton Coldfield in the West Midlands; County Oak, Brighton; Allerton Road Post Office (near the Allerton Oak), Liverpool; Newtown Post Office (Brimmon Oak), Powys, Wales; and Larkhall Post Office (Cadzows Oaks), Larkhall in South Lanarkshire, Scotland.

Russell Hancock, supply chain director at the Post Office, said: “We are incredibly proud to support the entry and circulation of this first 5p coin to bear His Majesty King Charles III’s official portrait.”