King Charles Has Approved His New Banknotes, But When Will They Enter Circulation?
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3 weeks ago
Our banknotes are about to get a refresh
Yesterday (9 April), King Charles was presented with a series of fresh banknotes, all adorned with 01 000001 serial numbers and the King’s face. Yes, the time has come: banknotes featuring the late Queen Elizabeth II’s iconic portrait will now be phased out, with the new notes featuring the King’s portrait about to enter circulation.
The King was shown the new notes by Bank of England Governor Andrew Bailey at Buckingham Palace, with a £5, £10, £20 and £50 note presented in a leather-bound booklet. The image was chosen by the King and the Palace, so we can assume he liked the look of them. But when can we expect our Charles cash to enter circulation?
When Will Our Banknotes Feature King Charles?
New banknotes featuring King Charles will start being rolled out on 5 June 2024. Interestingly, and in light with the King’s environmental concerns, the new banknotes will only replace worn or damaged Queen Elizabeth II notes – so we can expect to see the late Queen’s face in our wallets for a long time to come.
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The reverse side of the notes remain unchanged from previous editions: Sir Winston Churchill on the £5 note, Jane Austen on the £10 note, JMW Turner on the £20 note, and Alan Turing on the £50 note.
Another interesting historical note to consider is that Queen Elizabeth II is the only monarch to ever feature on British banknotes, beginning in 1961. Before then, bank notes varied in design but generally depicted a vignette of Britannia with cursive handwriting and signature from the head of the Bank of England.
On presenting the new notes to the King, Sarah John, Chief Cashier at the Bank of England said: ‘It is such an honour to be here today and have this opportunity to present the King with the lowest numbered banknotes of the new King Charles range. This is the first time that we have had four new bank notes coming out at once, so it is a great pleasure to have been able to show the King what he is going to look like on the notes of the future.’
