King Charles notes will enter circulation in the UK from mid-2024

The first banknotes bearing the image of King Charles III will go into circulation in mid-2024, the Bank of England said on Tuesday as it unveiled its designs.

“The King’s portrait will appear on the existing designs of the four polymer notes (£5, £10, £20 and £50), with no other changes to the existing designs,” the central bank said.

“The King’s image will appear on the front of the notes, as well as cameo on the transparent security window.”

Charles, 74, became king after the death in September of his mother, Queen Elizabeth II.

The first coins bearing his likeness went into circulation earlier this month, the Royal Mint has previously announced.

The new notes feature an engraved portrait of Charles based on a photograph owned by the royal household and made available in 2013, the Bank of England told AFP.

The design was “finalized in recent months” and approved by the king, he noted, with the notes to be mass-produced from the first half of 2023.

The current polymer notes, which have been gradually replacing paper currency in the UK since 2016, bearing the Queen’s portrait will remain legal tender and can continue to be used.

The new notes will only be printed to replace worn-out predecessors and to meet any general increase in demand, the central bank said, adding that it would minimize the environmental and financial impact of the change.

This means that from mid-2024, notes with both monarchs will co-circulate.

“I am very proud that the Bank is launching the design of our new banknotes which will carry a portrait of King Charles III,” its governor Andrew Bailey said in a statement.

“This is a significant moment as the King is only the second monarch to appear on our banknotes.”

© 2022 AFP

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