The Bank of England released images of the first bank notes featuring King Charles III’s portrait on Tuesday. The new notes will be issued in the middle of 2024.
The new £5, £10, £20, and £50 polymer notes feature a portrait of the king in the security panel. They are otherwise identical to the designs that are currently in use.
“This is a historic occasion because the King is only the second monarch to appear on our banknotes,” said Bank of England Governor Andrew Bailey in a statement.
The new notes are expected to be in circulation by the middle of 2024. All polymer banknotes with a portrait of HM Queen Elizabeth II remain legal tender and can be used as usual by the public. To minimize the environmental and financial impact of this change, new notes will only be printed to replace worn banknotes and to meet any overall increase in demand for banknotes, in accordance with Royal Household guidance. As a result, notes depicting HM Queen Elizabeth II and King Charles III will circulate concurrently.
What will become of Queen Elizabeth II’s banknotes?
You can still use polymer banknotes with Queen Elizabeth II’s portrait on them. At the same time, banknotes depicting Queen Elizabeth II and the King will be in circulation.
The new banknotes will only be printed to replace worn ones and to meet any increase in overall demand for banknotes. Our approach is consistent with Royal Household guidance to reduce the environmental and financial impact of this change. Fans of King Charles III are super excited.
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