The King Charles III bank note designs have been revealed by the Bank of England, which are likely to enter circulation in 2024
The design for bank notes featuring an image of King Charles III have been launched by the Bank of England, with plans to enter circulation by mid-2024.
The portrait of the King will appear on existing designs of all four polymer banknotes (£5, £10, £20 and £50), with no other changes to the existing designs.
All polymer banknotes carrying a portrait of Queen Elizabeth II will remain legal tender, and the public can continue to use these as normal.
In line with guidance from the Royal Household, to minimise 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.
This will mean notes featuring Queen Elizabeth II and King Charles III will therefore co-circulate.
King Charles will become only the second monarch in British history to feature on a banknote, and the announcement comes in the run-up to the coronation in May 2023.
The first Bank of England note to feature Queen Elizabeth II’s portrait was the £1 note issued in 1960, which was followed by a ten shilling note in 1961.
Governor Andrew Bailey said: ‘I am very proud that the Bank is releasing the design of our new banknotes which will carry a portrait of King Charles III. This is a significant moment, as the King is only the second monarch to feature on our banknotes.
‘People will be able to use these new notes as they start to enter circulation in 2024.’
Although the notes will feature a new portrait of the monarch, the reverse side of each note remains unchanged.
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