The Bank of England has unveiled a coin design featuring the portrait of Britain's new King Charles III, as well as other coins included in the annual sets, The Times reported.

According to it, the image of the king will be minted on coins of £2 and £5 (about $2.4 and $6) as well as 50 pence. "Our role as an exemplar of British craftsmanship means each coin bearing his portrait is of the highest quality, from the metal it’s struck on, to the hours of craft that’s gone into the design, the tooling and the final product for our customers," assured Anne Jessopp, executive director of the Royal Mint. The design of the £5 coin is timed to coincide with the King's forthcoming 75th birthday in November. It will also feature oak leaves and delphinium flowers, symbolizing the King's love of nature.

The £2 coins commemorate the distinguished writer John Ronald Reuel Tolkien and the centenary of the Flying Scotsman steam locomotive, which set the world speed record in 1934. The 50 pence coin design relates to the 75th anniversary of the National Health Service (NHS) and the so-called "Windrush generation" - immigrants invited to the country after World War II.

The coins will be available for purchase beginning Jan. 3, 2023, on the Royal Mint's website. Prices for the new items are expected to start at £50 (about $60).

Britain's Queen Elizabeth II died Sept. 8 at Balmoral Castle in Scotland at age 96, after which Prince Charles, her son, became King Charles III. Elizabeth was buried Sept. 19 in George VI Chapel on the grounds of Windsor Castle.