Banknotes featuring the portrait of King Charles III enter circulation. The Bank of England presented them, as they are and the new design.
The United Kingdom is preparing to experience a historic moment in its monetary tradition. Starting from 5 June, for the first time, new banknotes bearing the image of King Charles III will enter into circulation. This event marks a significant turning point, as the face of the late Queen Elizabeth II has adorned British currency for decades.
The Bank of England has announced that the new notes will be introduced gradually and will be available in denominations from 5, 10, 20 and 50 pounds. This decision follows the policy of replacing worn banknotes and responding to the increase in overall demand. The introduction of the new banknotes will take place in such a way as to minimize the environmental and financial impact of the change, following the guidelines established by the Royal Household.
The design of the new banknotes
The official image of King Charles III was revealed in December 2022 and will find its place on the front of the new banknotes. Furthermore, it will also be visible in the transparent security window. Despite the introduction of the new portrait on the front, the back of the banknotes will retain the current designs: Winston Churchill on the £5, Jane Austen on the £10, JMW Turner on the £20 and Alan Turing on the £50.
British citizens will see the new banknotes appear in their daily lives very gradually. The Bank of England has in fact specified that there will not be an immediate replacement of the entire circulating money supply but that the transition will take place over time. Old banknotes depicting Queen Elizabeth II will continue to be legal tender until they wear out naturally.
For those interested in owning the new coin issues featuring the effigy of King Charles III or exchanging the old ones for the new design, it will be possible to contact the Bank of England directly. However, some restrictions will be applied in the exchange operation to ensure an orderly and efficient transition.
This change represents not only a physical update of the currency but also a tangible symbol of the generational shift at the top of the British monarchy. As citizens get used to the new image in their daily transactions, this moment will remain imprinted as a significant chapter in the long history of British monarchy and finance.
