Tuesday, December 20, 2022 at 12:01 AM
The Bank of England revealed the design of the new banknote to King Charles III. This makes Charles the first monarch to appear on paper legal tender in British history.
Recently succeeding his mother, Her Majesty Queen Elizabeth II, King Charles will appear on the front of the four polymer banknotes (£5, £10, £20 and £50), as well as in the silver transparent safety window on both sides of the note.
The Bank of England stated that the notes will be in circulation by mid-2024.
All banknotes bearing the image of Queen Elizabeth will continue to be in circulation, the Bank of England has confirmed, with the public being able “use them as normal”. This means that Queen Elizabeth II and King Charles III’s legal bids will be traded together.
To reduce its environmental and financial impacts Bring King Charles IIAs banknotes are still in circulation, new banknotes can only replace banknotes that are damaged and will satisfy any increase in demand.
Andrew Bailey, Governor of Bank of England, stated that he was “proud” that the central bank had released the design of the new banknotes.
The Bank of England announced, September 27, that a design of King Charles III’s notes would soon be released.
Bailey also called the release an “important” moment because the king was the only one to keep his appearance in the banknote.
In 1960, it was Queen Elizabeth II. first king Her image adorned the legal tender – the £1 note – before being introduced to the ten shilling note in 1961.
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