After coins comes the turn of banknotes. The first banknotes featuring Charles III, who became king after the death of his mother Queen Elizabeth II on September 8, were unveiled on Tuesday by the Bank of England. They will go into circulation in mid-2024 in the United Kingdom.
“The King’s portrait will appear on existing models of four banknotes” in £5, £10, £20 and £50 “without further changes” to their design, the central bank said in a press release. The image of Charles III will appear in place of his mother’s face on the front of the banknotes and inserted into a transparent security window, according to images released by the monetary institution.
The portrait is an engraving made from a photograph “provided by the royal family in 2013”. The visuals, completed in recent months, have been approved by the monarch, a Bank of England spokesman told AFP. Polymer banknotes, which have gradually replaced paper money in the UK since 2016, will be produced on a large scale from the first half of 2023 and then enter circulation next year.
Coins with his image entered circulation.
Banknotes bearing the image of Elizabeth II will continue to circulate in parallel and will only be withdrawn if they are damaged in order to “minimize the environmental and financial impact” of the change of monarch in accordance with the directives of the Royal House. The first coins bearing the image of Charles III went into circulation in early December, appearing in post offices across the country.
There are 27 billion coins in circulation in the UK depicting the late Elizabeth II. They will also remain valid and will only be replaced if they are damaged or worn.