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King Charles banknotes enter circulation for the first time

Press preview of the ‘The Future of Money’ exhibition at the Bank of England Museum in London, UK, on ​​February 27, 2024.

Rasid Necati Aslim | Anadolu | fake images

LONDON – Banknotes featuring a portrait of King Charles III entered circulation on Wednesday for the first time, the Bank of England said in a statement.

Charles will appear on the front of the £5, £10, £20 and £50 banknotes, and will be seen through the banknotes’ clear security window.

Otherwise the notes will remain unchanged in their design. As well as monarchs, UK banknotes feature historical figures such as Winston Churchill, Jane Austen, JMW Turner and Alan Turing.

Note images depicting Charles were first published in December 2022 after Queen Elizabeth II died in September of the same year.

New banknotes bearing a portrait of King Charles III and due to enter circulation on June 5, 2024 are displayed for a photograph after being presented to Britain’s King Charles III by Bank of England Governor Andrew Bailey, and the chief cashier of the Bank of England. Sarah John, at Buckingham Palace in London on April 9, 2024.

Yui Mok | afp | fake images

Banknotes depicting Queen Elizabeth II will remain legal tender and will be in circulation alongside those depicting Charles, the Bank of England said. The two monarchs are the only ones represented on the banknotes, since this tradition began in 1960.

“New banknotes will only be printed to replace worn-out banknotes and to meet any general increase in demand for banknotes,” the Bank of England said. “This means that the public will begin to see the new King Charles III banknotes very gradually.”

“This is a historic moment as it is the first time we have changed the sovereign of our banknotes,” said Bank of England Governor Andrew Bailey.

However, people will be able to exchange the notes they already have for new ones with Charles. A series of auctions of banknotes with low serial numbers will take place in the coming months with the proceeds going to charities, the Bank of England said.

Coins showing a portrait of the British king have already entered circulation. He is shown facing left, in accordance with a tradition that the direction of the profile changes for each successive monarch.

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