- The Bank of England released images of the first bank notes to feature the portrait of King Charles III.
- The new notes will enter circulation from the middle of 2024.
The Bank of England released images of the first bank notes to feature the portrait of King Charles III Tuesday. The new notes will enter circulation from the middle of 2024.
The new £5, £10, £20 and £50 polymer notes include a portrait of the king in the notes’ see-through security panel. They are otherwise unchanged from the designs currently in circulation.
“This is a significant moment, as the King is only the second monarch to feature on our banknotes,” Bank of England Governor Andrew Bailey said in a statement.
The tradition of having monarchs on banknotes only started in 1960. Coins have long showcased images of the sovereign.
The first coins featuring the king’s portrait were issued by the Royal Mint on Dec. 8.
Charles became king in September, succeeding his mother, Queen Elizabeth II. She died following 70 years on the throne.
The coins and banknotes featuring the late queen’s portrait will continue to be legal tender in the U.K.
Source: Finance - cnbc.com
