New banknotes with the portrait of King Charles III will enter circulation in Britain on June 5, according to the Bank of England. The new banknotes will showcase the king’s image in denominations of five, 10, 20, and 50 pounds.
These notes will gradually circulate alongside the existing ones featuring the late Queen Elizabeth, with a focus on replacing worn-out currency and meeting the overall demand for notes.
The Bank of England emphasized that the introduction of the new banknotes aligns with guidance from the Royal Household, aiming to minimize both the environmental and financial impact of the transition.
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King Charles, who assumed the throne after Queen Elizabeth’s 70-year reign concluded in 2022 is the second monarch to feature on the Bank of England’s banknotes.
The Royal Mint had previously released coins featuring his profile into general circulation in late 2022.
Shoppers and consumers will still be able to use banknotes featuring Queen Elizabeth II. Also, the reverse side of the existing polymer Bank of England banknotes featuring Sir Winston Churchill, Jane Austen, JMW Turner, and Alan Turing will remain unchanged.
However, there will be auctions of low-serial numbered notes and a public ballot, allowing people to enter and potentially purchase sets of notes. The money generated from these activities will go to charity
This development coincides with other symbolic changes, such as King Charles’s preferred crown replacing Queen Elizabeth II’s favored symbol on the government’s website, underscoring his role as the head of state.
