First images emerge of British banknotes featuring King Charles III
New bills will phase out Queen Elizabeth II designs
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The Bank of England has unveiled the first images of banknotes featuring Britain’s new monarch, King Charles III.
The £5, £10, £20 and £50 bills, which are expected to enter circulation by mid-2024, will replace those featuring the late Queen Elizabeth II.
"This is a significant moment, as The King is only the second monarch to feature on our banknotes," Bank of England Governor Andrew Bailey said in a statement.
The new £5 banknote with King Charles III's image on it. (Bank of England)
The Bank says the King’s image will appear in two places: on the front of the note, and in the see-through security window.
No other changes to the existing designs were made.
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A close-up view of the new £10 banknote with King Charles III on it, which is expected to enter circulation by mid-2024. (Bank of England )
"All polymer banknotes carrying a portrait of HM Queen Elizabeth II remain legal tender, and the public can continue to use these as normal," the Bank said.
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"In line with guidance from the Royal Household, to minimize the environmental and financial impact of this change, new notes will only be printed to replace worn banknotes and to meet any overall increase in demand for banknotes," it added. "Notes featuring HM Queen Elizabeth II and King Charles III will therefore co-circulate."
A woman holds British pound banknotes featuring the late Queen Elizabeth II in this illustration taken May 30, 2022. (REUTERS/Dado Ruvic / Reuters Photos)
Charles III has taken the throne following the death of Queen Elizabeth II on Sept. 8.