New British pound notes with King Charles III portrait will enter circulation in 2024

LONDON – The primary banknotes bearing the picture of King Charles III will likely be put into circulation in mid-2024, the Financial institution of England stated on Tuesday because it unveiled its designs.

“The portrait of the King will appear on the existing designs of all four polymer notes (£5, £10, £20 and £50), with no other changes to the existing designs,” the central financial institution stated.

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“The King’s image will appear on the front of the notes, as well as in a cameo in the transparent security window.”

Charles, 74, turned king after the loss of life of his mom Queen Elizabeth II in September.

The primary cash bearing his likeness entered circulation earlier this month, the Royal Mint has beforehand introduced.

The brand new notes function an engraved portrait of Charles primarily based on {a photograph} owned by the royal household and made accessible in 2013, the Financial institution of England informed AFP.

The design was “finalized in recent months” and authorized by the king, it famous, with the notes to be mass-produced from the primary half of 2023.

Present polymer notes – which have progressively changed paper cash within the UK since 2016 – bearing the Queen’s portrait will stay authorized tender and will proceed for use.

The brand new notes will solely be printed to exchange worn-out predecessors and to fulfill any general enhance in demand, the central financial institution stated, including that it will decrease the environmental and financial impression of the change.

This implies from mid-2024 onwards, notes that includes each monarchs will co-circulate.

“I am very proud that the bank is releasing the design of our new banknotes which will bear a portrait of King Charles III,” its governor Andrew Bailey stated in an announcement.

“This is an important moment, as the King is only the second monarch to appear on our banknotes.”

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