The latest design, featuring British bees, has been issued to UK post offices and banks, with nearly three million coins making their way into tills across the country.

The tribute to British bees is one of eight new designs that will appear on the nation’s coins, from the 1p, to the £2, which feature animals such as the hazel dormouse, puffin and the atlantic salmon – all species which are in active conservation programmes.

The new designs highlight King Charles III’s passion for conservation. The number indicating the value of each coin has also been enlarged, to help children understand the value of money.

The Royal Mint said that the new coins feature a unique repeating pattern featuring three interlocking C’s. This aspect of the design takes its inspiration from history and the cypher of Charles II, while the flora and fauna look to the future and the importance of the natural world.

The coins were struck by The Royal Mint in South Wales.

Rebecca Morgan, director of commemorative coin at The Royal Mint said: ‘The Royal Mint has made the circulating coinage of each of Britain’s monarchs since Alfred the Great and it is an honour to reveal that King Charles III’s £1 coin is now in circulation.

‘We know there’ll be a buzz of excitement among collectors and the public to get this special piece of history in their change. We hope the designs across all denominations spark important conversations about the conservation of these important species.’

It is now over 40 years since the first £1 coin was launched, replacing the old £1 notes for those that remember.

Sarah Coles, head of personal finance, Hargreaves Lansdown said: ‘Everything has changed beyond recognition since 1983, when the £1 coin was launched.

‘Back then, mobile phones were the stuff of science fiction, nobody could imagine a world with more than three television channels, and the thought of having anyone other than the Queen on the coin was unthinkable.

‘Now, so much has changed, including the spending power of £1. Over 41 years, inflation has taken a toll, and impact of rising prices really adds up. If you had put a shiny new £1 coin under the mattress on launch day, it would now have the same spending power as 22p back in 1983.’

Despite declining use of money, there is a still demand for hard currency. In a poll run by The Royal Mint, the £1 coin was crowned as the favourite among all eight-coin designs, with the 2p depicting a red squirrel following closely in second place.

The new £1 pound features a depiction of a bee on one side of the coin, symbolising the 250+ species which exist in Britain. Bumblebees, mason bees, mining bees and more - these industrious insects play a pivotal role in pollinating many plants and fruiting trees. 

Commemorative sets of the definitive coins are available from The Royal Mint’s website priced from £34. Each coin has been created with the support of the Royal Horticultural Society (RHS) and the Royal Society for the Protection of Birds (RSPB).