King Charles III banknotes: Bank of England unveils first pictures of design ahead of circulation

The King’s portrait will appear on the front of the banknotes and in the see-through security window
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The Bank of England has unveiled the designs of its first banknotes featuring King Charles ahead of their circulation.

The Bank said the portrait will be the only change to the existing designs of its £5, £10, £20 and £50 notes.

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The new notes will gradually replace those featuring Queen Elizabeth II and will enter circulation in the middle of 2024. The new notes will feature the King’s portrait on the front and in a see-through security window.

The King’s portrait will appear on the front of the banknotes and in the see-through security windowThe King’s portrait will appear on the front of the banknotes and in the see-through security window
The King’s portrait will appear on the front of the banknotes and in the see-through security window

Existing notes featuring the Queen will remain legal tender and will be withdrawn by the bank after they are worn out.

The Bank said that, following guidance from the Royal household, the new notes would only be printed to replace worn notes or to meet increased demand, to minimise the environmental and financial impact of the change.

The Queen first appeared on banknotes in 1960 and currently, there are about 4.5 billion individual Bank of England notes worth about £80 billion in circulation.

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Bank of England governor, Andrew Bailey, said: "I am very proud that the bank is releasing the design of our new banknotes, which will carry a portrait of King Charles III.

"This is a significant moment, as the King is only the second monarch to feature on our banknotes. People will be able to use these new notes as they start to enter circulation in 2024."

First coins featuring King Charles 

Coins bearing the effigy of King Charles have already started to appear in circulation in post offices around the UK.

An estimated 4.9 million of the new coins are being distributed to 9,452 post offices - about half of the total number earmarked for circulation - to be given in change to customers. Coins carrying the image of the late Queen will still be accepted in shops.

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In keeping with tradition, the King’s portrait faces to the left – in the opposite direction to the late Queen. The reverse of the coin features a design originally appearing on the 1953 Coronation Crown. It includes the four quarters of the Royal Arms depicted within a shield having an emblem of the home nations: a rose, a thistle, a shamrock and a leek.

At the time of the coin’s announcement, Rebecca Morgan, director of collector services at the Royal Mint, said: “It’s a fantastic opportunity for coin collectors to add to their collections, or start one for the first time. We anticipate a new generation of coin collectors emerging, with people keeping a close eye on their change to try and spot a new 50p that bears the portrait of our new King.

“The Royal Mint has been trusted to make coins bearing the monarch’s effigy for over 1,100 years and we are proud to continue this tradition into the reign of King Charles III.”

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