Revealed: King Charles III's Coronation Will Cost Millions Despite Being a 'Smaller, Less Expensive' Ceremony

King Charles III is set to be crowned as monarch this weekend, celebrating his reign over the United Kingdom after his official accession to the throne.

The lavish affair will take place at the iconic Westminster Abbey and is said to cost anywhere between $63 to $125 million, which will be paid for by the UK Government and Buckingham Palace through the Sovereign Grant and Privy Purse.

RadarOnline.com has learned there are rumors the event may be "slimmed down" due to the economic situation and is now aimed to be "smaller, less expensive and more representative." It's questioned if that means a shorter guest list or ceremony to fit the budget.

The palace did not confirm which aspects of the coronation would be altered but did say the ceremony would include the same core elements in addition to reflecting "the spirit of the times."

Locals are anticipating the three-day festivities across London in honor of Charles following his accession on September 8, 2022, in the wake of Queen Elizabeth's death.

At the time, RadarOnline.com exclusively learned that Charles was in the process of making adjustments to his late mother's longtime staff and had visions of the future that he planned to bring to fruition.

Well-placed sources said the "massive changes" would be made within the palace over the next few months and will be "much larger than anything seen in the last 70 years."

"King Charles wants to be his own man. He doesn't want his mother's staff telling him what his mother would do," one palace insider spilled.

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Queen Camilla and several other royal family members will be by Charles' side for his big day. His estranged son, Prince Harry, will also be in attendance while Harry's wife, Meghan Markle, will be staying back in California with the couple's kids.

The Duke of Sussex is set to sit ten rows back from the rest of the royal family when his father is coronated.