The Bank of England, on Tuesday, unveiled the first images of banknotes featuring Britain’s King Charles III.
Charles’ portrait will appear on English notes of £5, £10, £20, and £50, while the rest of the design will remain the same as the current notes that feature the late Queen Elizabeth II on the front.
The cameo in the transparent security window will also feature the current monarch.
The United Kingdom’s central bank announced this via a statement on Tuesday.
The Bank of England noted that the new banknotes will enter circulation by mid-2024 and will co-circulate with notes featuring the Queen’s portrait, which will remain legal tender in the UK.
The reverse side of the notes will remain unchanged – the current designs feature portraits of Winston Churchill, Jane Austen, JMW Turner, and Alan Turing on the reverse of the £5, £10, £20, and £50 notes, respectively.
“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,” the Bank of England added.
“This is a significant moment, as The King is only the second monarch to feature on our banknotes,” Bank of England Governor, Andrew Bailey, had said ahead of the statement.
Earlier this month, the first coins bearing the official effigy of King Charles III entered circulation.
The 4.9 million 50 pence coins feature the King’s portrait, and on the reverse, a design symbolising the “life and legacy” of the late Queen.