Charles the no-frills King: Here's why new monarch prefers a slimmed-down coronation

"The King has long been an advocate of a streamlined or slimmed down monarchy and this project could certainly be said to fit with his vision," the source added. The coronation of King Charles III will be only one-third as long as that of the late Queen.

Furthermore, Charles wishes to reduce the number of people in attendance from 8,000 to 2,000. This means considerably less ceremony, pomp, and grandeur compared to the late Queen's 1953 coronation at Westminster Abbey. It's also believed that the requirement that peers wear formal coronation robes—which feature a red velvet cloak and a stoat's white winter fur—will be eased.

Britain's current economic crisis might also result in another tiny but significant change to the procession: the customary gift of gold to the monarch may be omitted. The late Queen had received an ingot of gold during her coronation ceremony in 1953. "In an age where people are feeling the pinch, this is not going to happen," a source told the Daily Mail. 

Old customs like the Court of Claims, which determined who was qualified to fill particular roles, might also cease to exist. However, some important ceremonies will still be performed, such as the anointing of the King, who will declare himself to be the "defender of the faith." Although a specific date has not yet been announced, the coronation is expected to occur sometime in 2023.