Following the ascension of UK’s monarch King Charles III, the Bank of England has issued the design of the current monarch’s new banknotes scheduled to enter circulation by mid-2024 following Queen Elizabeth II’s demise.
The new specimen will be applicable to all four polymer notes of £5, £10, £20, and £50. The new notes are expected to be in circulation, although fifty pence coins with King Charles III’s image have already been circulating via post offices across the country.
According to the Bank of England, each note will now bear the image of The King appearing on the front of the banknotes and in the see-through security window, but the reverse side of each note will remain unchanged i.e., no substantial changes to the existing designs.
https://twitter.com/bankofengland/status/1605110939950383106?cxt=HHwWhICwjan5v8YsAAAA
However, the current polymer notes featuring Her Majesty Queen Elizabeth II’s images will also remain legal tender. According to the Royal Household, The King’s banknotes will only be printed to replace worn ones in order to minimize the environmental and financial impacts.
It has also been reported that almost 4.9 million new coins have been distributed to post offices as a change to customers.
Earlier, HM Queen Elizabeth II appeared on the UK’s banknotes since 1960.
