New banknotes will be issued in England. The new notes feature an image of King Charles III. The Bank of England has released a new version of the notes. The only change to the existing £5, £10, £20 and £50 note designs will be the obverse. The current notes bear the portrait of the late Elizabeth Ranji. The new banknotes will be in circulation by mid-2024.
The King’s portrait will be displayed on the front of the new banknotes and on the security window. Coins with the King Charles obverse were issued earlier. The Bank of England has made it clear that even if new banknotes come out, existing banknotes will not be withdrawn. Queen Elizabeth was the first and only royal to appear on Bank of England notes, which began in 1960.
However, notes issued by Scottish and Northern Irish banks do not feature King Charles. There are currently 4.5 billion individual Bank of England notes in circulation in the UK market, worth £80 billion.
Story Highlights: New British Banknotes Revealed with Portrait of King Charles III
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