The Bank of England announced on Tuesday, December 20 that new banknotes featuring the image of King Charles III will enter circulation by mid-2024.
The bank also unveiled the designs for the banknotes, which will feature an engraved portrait of the King that was released by the Royal Family in 2013 and has been approved by the King himself.
“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 bank said.
“The King’s image will appear on the front of the banknotes, as well as in a cameo in the see-through security window,” it added.
This, after 74 year-old King Charles succeeds to the throne after the death of his mother Queen Elizabeth II in November.
The design was finalized in recent months and has been approved by the King.
The new banknotes will be printed to replace the old banknotes to meet the increase in demand.
“I am very proud that the Bank is releasing the design of our new banknotes which will carry a portrait of King Charles III,” its governor Andrew Bailey said in a statement.
“This is a significant moment, as The King is only the second monarch to feature on our banknotes,” it added.
