Solomon Islands unveils new $1 coins bearing the effigy of King Charles III

THE Minister of Finance and Treasury, Manasseh Damukana Sogavare on Thursday officially unveiled and declared the new $1 dollar coins bearing the effigy of the new monarch

The Minister for Finance and Treasury, Manasseh Sogavare, has officially unveiled and declared the new $1 dollar coins bearing the effigy of the new monarch King Charles III as legal tender.

The new $1coins were launched by Minister Sogavare at the CBSI boardroom. the cost of the production of the 3.4 million $1 coins is SBD3.4Million.

Since King Charles III became the new monarch of the United Kingdom and the Commonwealth realm of nations on 8 September 2022 following the death of his mother Queen Elizabeth II, Commonwealth countries across the globe started changing the official effigy of the late Queen on their respective currency to that of her successor son, King Charles III.

For Solomon Islands, the launching and official declaration of the new coin yesterday marks the beginning of a new era in its currency, a transition from the effigy of Queen Elizabeth II on its currency coins to that of her successor son King Charles III. The King Charles III effigy coins rollout starts with the $1 coin and later to the other currency coins -10 cent, 20 cent, 50 cent and $2.

CBSI Governor Dr Luke Forau said the new $1 coins represent a historic milestone in the journey of the Solomon Islands modern currency development and a continuation of its ongoing relationship with Great Britain and between the CBSI and the Royal Australian Mint.

He explained that new $1 coins retain the same dimension, size and shape with the Nguzu-Nguzu motif on their reverse, symbolising good luck and protection, while the obverse features the effigy of King Charles III.

Dr Forau said the new $1 coins were designed by Daniel Thorne.

“The inclusion of the effigy marks the first Solomon Islands coin to commemorate His Majesty’s reign, combining traditional elements with this fresh design to celebrate the nation’s heritage and monarchy.

“Ladies and gentlemen, the coin is more than a currency; it is a symbol of Solomon Islands history, culture and its ties to the commonwealth.

“This design honours both our traditional and shared values the nations of the Commonwealth uphold in recognition to the monarchy.

“The coin will become available through the commercial banks and their branches as of this afternoon or maybe tomorrow, depending on the logistical arrangement. And in the coming days, our team from CBSI will be conducting special promotion events and educational campaigns to familiarise the public with the new effigy.”

Moreover, Dr Forau said it is important to differentiate the significance of the new King’s effigy as compared to the Queen’s effigy.

“The new King Charles III effigy if you look at it his face, it faces to your left, whereas with the Queen’s effigy, the face of the Queen faces to your right.”

MOFT Minister Sogavare expressed pleasure to launch the country’s latest currency coin.

“On behalf of the Government of Solomon Islands and the people of this nation, it gives me great pleasure to officially launch the Solomon Islands latest currency coin with the new effigy on this day, the 13th of March, 2025.

“This $1 circulation coin bears the effigy of His Majesty King Charles III that will be portrayed in all our future circulating coins including the 10cents, 20cents, 50cents, $1 and $2 denominations along with our numismatic coins.

“With that, Ladies and gentlemen, I now declare that the new $1 coin featuring the effigy of his Majesty King Charles III is hereby recognised and be used as legal tender currency in Solomon Islands.”

Meanwhile, the CBSI has advised that the old $1 coins will still be in use, along with the new circulating $1 coins with the King Charles III effigy, until CBSI slowly gets rid of them in the long-run.

It said as long as the old $1 coins are still in circulation, they maintain their value.

By IAN LADDS OSO

Solomon Star, Honiara

Photo caption: The CBSI Governor Dr Luke Forau (left) and the Minister for Finance and Treasury, Manasseh Sogavare stand beside the newly unveiled set of one-dollar coins bearing the effigy of King Charles III at the CBSI Boardroom, Thursday. Photo by IAN LADDS OSO