First photos of new UK currency notes with King Charles's portrait revealed by Bank of England
The Bank of England has unveiled the designs for new banknotes that will have a portrait of King Charles III and go into circulation by the middle of 2024. The UK central bank originally revealed the design in the months leading up to the coronation in May, stating that the king's likeness will be featured on the four polymer bank notes that are now in use: the £5, £10, £20, and £50 notes.
The Bank of England said on Tuesday that the first banknotes featuring the portrait of King Charles III will go into circulation by the middle of 2024. No additional modifications will be made to the existing designs of the five pound, ten pound, twenty pound, and fifty pound polymer banknotes, according to the central bank.
"The King's image will appear on the front of the banknotes, as well as in cameo in the see-through security window."
Following the passing of his mother, Queen Elizabeth II, in September, Charles, 74, ascended to the throne. The Royal Mint has already stated that the first coins featuring his portrait went into circulation earlier this month.
According to AFP, the new banknotes have an engraved picture of Charles that was created from a royal family photo that was made accessible in 2013.
It stated that the notes will begin to be mass manufactured in the first half of 2023 after the design had been "finalised in the recent months" and received the king's blessing. The current polymer banknotes with the picture of the queen, which have gradually replaced paper currency in the UK since 2016, will continue to be accepted as legal cash.
The central bank stated that the new notes would only be issued to replace worn-out predecessors and to satisfy any general rise in demand, which will minimise the change's financial and environmental effects. As a result, notes with images of both monarchs will start to circulate around the middle of 2024.