For the very first time, banknotes featuring the portrait of King Charles III will be introduced into circulation starting June 5, 2024. This announcement, released on
February 21, 2024, marks a significant milestone in currency history.
The portrait of King Charles III will adorn the existing designs of all denominations, including the £5, £10, £20, and £50 notes, with no alterations to the current layouts.
While the polymer banknotes bearing the image of the late Queen Elizabeth II will continue to be recognized as legal tender, they will coexist alongside the newly introduced King Charles III notes. The production of the new banknotes will primarily focus on replacing worn-out bills and addressing any surge in demand, aligning with guidance from the Royal Household to minimize environmental and financial repercussions.
As the transition unfolds gradually, the public can expect to encounter the new King Charles III notes in circulation over time. Additionally, individuals will have the opportunity to exchange a limited amount of existing or old series notes for the new ones through the Bank of England, beginning from the issuance date on June 5, 2024. Detailed instructions regarding the exchange process will be provided closer to the date.
Moreover, a series of charity auctions featuring low-serial numbered notes will take place at Spink & Son throughout the summer. Alongside the auctions, members of the public can participate in a ballot for a chance to acquire a set of these unique notes. The proceeds from these initiatives will be directed towards charitable causes. Further information regarding the auctions and ballot entries will be accessible on the Spink & Son website. Photo by Tony Hisgett from Birmingham, UK, Wikimedia commons.