The Bank of England said on Tuesday that the first banknotes featuring the image of King Charles III would go into circulation by the middle of 2024.
There will be no additional modifications to the current designs of the four polymer banknotes ($5, £10, £20, and $50), the central bank announced. “The King’s portrait will appear on existing designs of all four polymer banknotes.”
The King’s likeness can be seen on the front of the banknotes and in a little cameo on the transparent security window.
Charles, 74, became king after the death in September of his mother, Queen Elizabeth II.
The Royal Mint has already said that the first coins with his face on them started being used earlier this month.
According to AFP, the new banknotes have an engraved portrait of Charles that was created using a royal family photo that was made accessible in 2013.
It stated that the notes would begin to be mass manufactured in the first half of 2023 after the design had been “finalized in recent months” and received the king’s blessing.
The central bank said that the new bills will only be printed to replace old ones that are worn out and to meet any overall increase in demand. This will keep the financial and environmental effects of the change to a minimum.
As a result, notes with images of both monarchs will start to circulate around the middle of 2024.
In a statement, the bank’s governor, Andrew Bailey, said, “I am quite happy that the Bank is announcing the design of our new banknotes, which will include a likeness of King Charles III.”
“The King is only the second monarch to appear on our banknotes; therefore, this is a big occasion.”
