News
All you need to know about the King Charles banknotes, including circulation dates
A portrait of the King is the only change to the existing designs of all four polymer banknotes: £5, £10, £20 and £50.
New notes will feature the King’s portrait on the front and in the see-through security window.
Bank of England Governer Andrew Bailey said he was “very proud that the Bank is releasing the design of our new banknotes”.
He added: “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.”
Will the Queen Elizabeth II notes remain legal tender?
Banknotes featuring King Charles will enter circulation by mid-2024.
Until then, notes featuring the image of the King’s late mother, Queen Elizabeth II, will remain legal tender and can be used in shops as normal.
However, the new notes will gradually replace those featuring the Queen.
What about coins featuring King Charles?
The first coins featuring King Charles’s profile have been issued by the Royal Mint and were in circulation at the start of December.
King Charles was seen first on the 50p coins, which saw his face in profile when the coin is turned to the left.
This was different to the Queen’s image on coins, which featured her profile when turned to the right.
On the coin’s reverse is a tribute to Her Majesty — a design that originally appeared on the 1953 Coronation Crown, struck to commemorate her coronation at Westminster Abbey.
It includes the four quarters of the Royal Arms depicted within a shield.
Between each shield is an emblem of the home nations: a rose, a thistle, a shamrock and a leek.
Sky News reported that, during December, 4.9 million 50ps would enter circulation at 9,452 post office branchea. Almost double that number will eventually be released.
Coins containing the Queen’s image are likely to remain in circulation for a long time, Sky News said. About 27 billion are in existence and they will remain legal tender.
