NEW banknotes carrying the portrait of King Charles have been unveiled for the first time today.
The image of the new Monarch will replace the face of his late mother, Queen Elizabeth II, on the £5, £10, £20 and £50 notes.
New banknotes carrying the portrait of King Charles have been unveiled for the first time today
The image of the new Monarch will replace the face of his late mother, Queen Elizabeth II, on the £5, £10, £20 and £50 notes
Current banknotes with the Queen’s portrait will remain legal tender as the new notes are not expected to enter circulation until mid-2024.
The Bank of England said that new notes will only be printed to replace worn banknotes to minimise the environmental and financial impact.
Governor Andrew Bailey said: “I am very proud that the Bank is releasing the design of our new banknotes which will carry a portrait of King Charles III.
“This is a significant moment, as The King is only the second monarch to feature on our banknotes.
“People will be able to use these new notes as they start to enter circulation in 2024.”
When Queen Elizabeth II came to power, coins with her father’s image, George VI remained in circulation for almost 20 years after his death.
They were eventually removed when decimalisation was introduced in 1971.
But after one monarch has died and another lined up to take their place, it means a whole host of other things need to change.
The new notes are not expected to enter circulation until mid-2024
The Bank of England said that new notes will only be printed to replace worn banknotes
The King is only the second monarch to feature on the Bank of England’s banknotes
