UK Introduces New Banknote Designs Fronted By King Charles III
Image via Bank of England
New changes of royal proportions are taking place in the UK following the ascension of King Charles III, ending a record reign of his mother Queen Elizabeth II. The Bank of England has now unveiled the official designs for the next edition of UK banknotes marking the new monarch.
The polymer bills, planned to begin circulation in mid-2024, showcase the King’s portrait on the front of notes of £5, £10, £20, and £50 denominations. His face will also appear on the notes’ see-through security window.
The new banknotes will retain core details like the anti-counterfeiting holograms.
Existing banknotes with Queen Elizabeth II’s face will remain legal tender, and the currencies featuring predecessor and successor will co-circulate once the Charles designs are released.
With contactless payments now part of the norm, physical currency hasn’t been passed around as frequently. Still, the Bank of England reveals that over 4.7 billion notes holding the Queen’s portrait—amounting to £82 billion (US$100 billion)—are still in circulation.
To minimize environmental and financial footprints,the royal household has advised the bank to only produce enough banknotes to replace worn ones.
Although coins have featured portraitures of monarchs since the late 1400s, banknotes with them are fairly new. Royalty-fronted bills were only introduced in the UK in 1960 with Queen Elizabeth II’s face on them, meaning King Charles III is only the second British monarch with his face on a banknote. His portrait will also appear on coins, which have already been unveiled previously by the Royal Mint.
The reverse side of the King Charles notes will stay the same, featuring the faces of author Jane Austen on the £10 design, artist JMW Turner on the £20 bills, and computer scientist Alan Turing on the £50 versions.
[via The Guardian and Bloomberg, images via Bank of England]
