The Bank of England said in a statement that the first banknotes with an image of King Charles III went into circulation on Wednesday, June 5. He will appear on £5, £10, £20, and £50 bills.
Historic Moment
The Bank of England Governor Andrew Bailey called this move a historic moment as this was the first time that the sovereign on the notes had been replaced.
Due to the novelty of the practice, which did not begin until 1960, only King Charles III and Queen Elizabeth II have ever appeared on banknotes, according to CNBC.
Aside from the monarchs, other historical figures are also featured in the notes. These include Winston Churchill, Jane Austen, JMW Turner, and Alan Turing. The design of the notes will not be altered unless otherwise specified.
Initial Distribution of King Charles Banknotes
After the death of Queen Elizabeth II in September of 2022, images of the notes featuring Charles were first distributed in December of the same year.
The Bank of England said that fresh banknotes would only be produced to replace worn-out ones and to accommodate any general upsurge in demand for these currency units. Therefore, the new Charles notes will be introduced to the public very subtly at first.
Queen Elizabeth II's portraits on banknotes will continue to circulate alongside those of Charles, according to the bank.
Still, people might trade in their old notes for the new ones that feature Charles. In the next several months, the Bank of England will host a number of auctions, including notes with low serial numbers. All of the money raised will be donated to charity.
Coins that include the likeness of the British monarch are now in circulation, too. In line with a custom that says the way the face changes for each new monarch, they show him facing to the left.
Join the Conversation