![Bank of England reveals designs for new King Charles III banknotes](https://i0.wp.com/marketingstockport.co.uk/wp-content/uploads/2022/12/Bank-of-England-reveals-designs-for-new-King-Charles-III-banknotes.png?resize=780%2C400&ssl=1)
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The first new polymer banknotes featuring the portrait of King Charles III have begun to enter circulation from 5th June.
The King’s image will appear on the front of the £5, £10, £20, and £50 notes, as well as in cameo in the see-through security window. No other changes to the designs or security features of the notes have been made. The new banknotes’ designs were first unveiled in December 2022, shortly after King Charles III’s ascension.
Polymer banknotes that feature the portrait of Her late Majesty Queen Elizabeth II will remain legal tender, and will co-circulate alongside King Charles III notes. New banknotes are only being printed to replace worn notes or to meet any increased demand. The gradual phasing in of new notes is being done following guidance from the Royal Household to minimise the environmental and financial impact of the change in monarch.
Speaking on issue day, the Bank of England’s Governor Andrew Bailey said:
“We’re very pleased to be issuing the new King Charles banknotes. This is a historic moment, as it’s the first time we’ve changed the sovereign on our notes. We know that cash is important for many people, and we are committed to providing banknotes for as long as the public demand them. Bringing these new notes into circulation is a demonstration of that commitment.”
With the new banknotes being released gradually, members of the public eager to obtain the new notes can do so by exchanging a limited value of current or old series notes for King Charles III notes either in-person or by post with the Bank of England.
A series of auctions of collectible low-serial numbered notes will be held over the summer by auctioneers Spink & Son with proceeds raising money for charity.