Banknotes featuring a portrait of King Charles III entered circulation on Wednesday, the Bank of England announced.
King Charles III will appear on the front of the £5, £10, £20, and £50 banknotes, visible through the notes’ see-through security window. Aside from the new portrait, the overall design of the banknotes remains unchanged. Alongside monarchs, UK banknotes feature historical figures such as Winston Churchill, Jane Austen, JMW Turner, and Alan Turing.
The Bank of England first released images of the notes depicting Charles in December 2022, following the passing of Queen Elizabeth II in September of the same year. Notes featuring Queen Elizabeth II will remain legal tender and will circulate alongside those showing King Charles III. This tradition of depicting monarchs on banknotes began in 1960, making Queen Elizabeth II and King Charles III the only monarchs to be featured.
“The new banknotes will only be printed to replace those that are worn, and to meet any overall increase in demand for banknotes,” stated the Bank of England. “This means the public will begin to see the new King Charles III notes very gradually.”
“This is a historic moment, as it’s the first time we’ve changed the sovereign on our notes,” said Bank of England Governor Andrew Bailey.
Individuals will have the option to exchange their current notes for those featuring King Charles III. Additionally, a series of auctions for notes with low serial numbers will be held in the coming months, with proceeds going to charity, according to the Bank of England.
Coins featuring a portrait of King Charles III have already been introduced into circulation. These coins depict the king facing left, adhering to the tradition that the profile direction alternates with each successive monarch.
