Cash is king: England unveils new banknote design featuring King Charles III
On Tuesday the Bank of England presented the first images of currency featuring King Charles III.
According to a press release from the financial institution, the portrait of The King will appear on existing designs of all four polymer banknotes (£5, £10, £20, and £50), “with no other changes to the existing designs.”
Today we unveiled the design of the King Charles III £5, £10, £20 and £50 banknotes. They are expected to enter circulation by mid-2024. You can continue to use polymer banknotes with a portrait of Queen Elizabeth II. Visit our website for more details. https://t.co/i5eqAhxrKY pic.twitter.com/BkYTZ0VopZ
— Bank of England (@bankofengland) December 20, 2022
While the updated banknotes are expected to enter circulation by mid-2024, currency featuring the late HM Queen Elizabeth II will still be legal tender.
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According to the bank, the new currency will be printed only to meet any overall increase in demand for banknotes or to replace worn bills in order “to minimise the environmental and financial impact of this change.”
King Charles III is only the second monarch to be featured on English banknotes.
The Royal Mint, the UK’s official maker of coins, announced in October that it had started production of 9.6 million circulating coins displaying the new monarch. It says the 50 pence coins — which include the King’s face and pay tribute to the late Queen Elizabeth — have started to appear in the public’s change as of December.
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