The Bank of England has today unveiled the design of the new King Charles III banknotes. The portrait of The King will appear on existing designs of all four polymer banknotes (£5, £10, £20, and £50), with no other changes to the existing designs.
The King’s image will appear on the front of the banknotes, as well as in cameo in the see-through security window.
Governor of the Bank of England 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.”
The new notes are expected to enter circulation by mid-2024.
Queen Elizabeth II Bank Notes
All polymer banknotes carrying a portrait of HM Queen Elizabeth II remain legal tender, and the public can continue to use these as normal. In line with guidance from the Royal Household, to minimise the environmental and financial impact of this change, new notes will only be printed to replace worn banknotes and to meet any overall increase in demand for banknotes. Notes featuring HM Queen Elizabeth II and King Charles III will therefore co-circulate.
We have to say, we think the new notes with the King’s portrait on look great although we doubt if we turn up at the Bank of England Cashier’s desk on Threadneedle Street and ask the Bank the pay us the sum of 20 pounds (in weight) in old Saxon silver coins called ‘Sterlings’ that the Bank will honour its promise.