The Bank of England released new designs for British pound banknotes featuring King Charles III on Tuesday.
This was stated by the Bank via its verified page, adding that the new notes will be in circulation by mid-2024, and nothing about the design will change, apart from the image of the monarch.
The bank stated that notes with the image of the queen will continue to be used and that fresh notes will only be created to repair damaged ones or to fulfil any need for additional cash.
According to the bank, this is in keeping with royal household guidance to reduce the environmental and financial impact of the transition.
“Today we unveiled the design of the King Charles III £5, £10, £20 and £50 banknotes. They are expected to enter circulation by mid-2024. You can continue to use polymer banknotes with a portrait of Queen Elizabeth II,” the bank tweeted.
While unveiling the newly designed notes, the governor of the Bank of England, Andrew Bailey, said, “This is a significant moment, as the king is only the second monarch to feature on our banknotes.”
The new notes were introduced just days after the Royal Mint of the United Kingdom attempted to stimulate interest in a commemorative coin featuring an image of the king by making a social media joke that puzzled many people.
“You’ve heard of Elf on the Shelf. Now get ready for…” the mint tweeted, along with an image of a coin featuring King Charles.
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