Charles III has its cuts. The first banknotes bearing the effigy of the new king, which will enter circulation in mid-2024 in UKwere released by the Bank of England on Tuesday.
“The king’s portrait will appear on the existing models of the four banknotes” of 5, 10, 20 and 50 pounds, “without further modification” in their design, announced the Central Bank. The image of Charles III will appear in place of the face of his mother, Queen Elizabeth II who died on September 8, on the front of the billets and inset in the transparent security window, according to the visuals unveiled by the monetary institute.
A photo “provided by the royal family in 2013”
The portrait is an engraving made from a photo “provided by the royal family in 2013” and the visuals, finalized in recent months, have been validated by the monarch, said a spokesperson for the Bank of England.
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 before entering circulation the following year. Banknotes bearing the image ofElizabeth II will continue to circulate in parallel and will only be removed when they are damaged to “minimize the environmental and financial impact” of the change of monarch, following the directives of the Royal House.
The first coins with the effigy of Charles III came into circulation in early December, appearing in post offices across the country. Some 27 billion coins are currently in circulation in the UK, bearing the face of the late Elizabeth II: they too will remain valid and will only be replaced when damaged or worn.
