The first images of banknotes with the British King Charles III. were unveiled by the Bank of England on Tuesday.
The portrait of Charles will appear on UK banknotes of £5, £10, £20 and £50. Meanwhile, the rest of the design remains the same as the current notes, which feature the late Queen Elizabeth II on the front. The cameo in the transparent security window will also feature the current monarch, the UK central bank said in a press release.
Expected to enter circulation in mid-2024, the new banknotes will be put into circulation alongside banknotes bearing the Queen’s portrait, which the bank says will remain legal tender in the United Kingdom.
“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 ahead of the release.
The back of the notes remains unchanged – the current designs feature portraits of Winston Churchill, Jane Austen, JMW Turner and Alan Turing on the back of the £5, £10, £20 and £50 notes.
“To minimize the environmental and financial impact of this change, new banknotes will only be printed to replace worn out banknotes and meet an overall increasing demand for banknotes,” the Bank of England added.
Earlier this month, the first coins bearing the official effigy of King Charles III were minted. circulated. The 4.9 million 50p coins feature the King’s portrait and, on the reverse, a design symbolizing the late Queen’s “life and legacy”, according to the Royal Mint.