The Bank of England has released new designs for the British pound notes with the image of King Charles III.
The UK central bank announced there were plans for the designed notes to enter begin circulation by mid-2024. It added that the king’s portrait would appear on existing designs currently in circulation – £5, £10, £20 and £50.
“I am very proud that the Bank is releasing the design of our new banknotes, which will carry a portrait of King Charles III. This is a significant moment, as the king is only the second monarch to feature on our banknotes. People will be able to use these new notes as they start to enter circulation in 2024,” Andrew Bailey, the Bank’s governor revealed.
King Charles III’s image would appear on the front of the polymer banknotes though the bank added that the notes still carrying the image of Queen Elizabeth II would also continue to remain legal tender.
The bank said it wanted to adhere to the directive issued by the royal household to reduce the impact of the transition.
The Queen’s head also features on some $20 banknotes in Canada.
The Bank of England has been producing paper money since the 1600s. A likeness of the reigning monarch was first featured in a 1960 issue by the bank when the £1 note showing Queen Elizabeth II was introduced for everyday use. The new notes would be one of the most prominent changes to royal symbols since the death of the Queen.
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