New UK banknotes with King Charles to be circulated in June
- Banknotes with King Charles will enter circulation in Britain from June 5, the Bank of England said, more than a year after unveiling their design
- The king’s portrait will appear on five, 10, 20 and 50 pound polymer banknotes and will be circulated alongside existing notes that feature the late Queen Elizabeth
New banknotes featuring Charles will only be printed to replace those that are worn, and to meet any overall surge in demand for notes, the BOE said.
The bank said that approach was in line with guidance from the Royal Household and aimed at minimising the environmental and financial impact of the change.
That means the new notes featuring the 75-year-old monarch, who is known for his environmental campaigning, will enter circulation “very gradually”, the BOE added.
Banknotes featuring the portrait of the late Queen Elizabeth will remain legal tender, and will co-circulate alongside the King Charles notes.
The first Bank of England note to feature Queen Elizabeth’s portrait was a 1 pound note issued in 1960.
The king’s image will appear on the front of the banknotes, as well as in cameo in the see-through security window.
Although the notes that enter circulation on June 5 will feature a new portrait of the monarch, the reverse side of each note will remain unchanged.
The current series of banknotes features Sir Winston Churchill on the £5, Jane Austen on the £10, JMW Turner on the £20 and Alan Turing on the £50.
People will be able to exchange Queen Elizabeth banknotes for King Charles notes through the Bank of England, although certain restrictions will apply. The bank said further details about this will be provided closer to the time.
A series of charity auctions of low-serial numbered notes will also be held over the
Charles, who became king after Elizabeth’s 70-year-reign ended in 2022, will become the second monarch to feature on the BOE’s banknotes.
