
25/09/2024
At Buckingham Palace today, the King was presented with the first of the new £5, £10, £20 and £50 banknotes which will show his portrait.
It follows the tradition of the monarch receiving the first issues of new banknotes. The existing banknotes, from the reign of Queen Elizabeth II, will continue to be used alongside the new notes.
Mr Bailey told the King this was the first time the Bank of England had had to change the monarch on the banknotes - as the late Queen Elizabeth II had been the first monarch to have her portrait on all of the Bank of England's banknotes.
The King, who was presented with a set of notes with 00001 serial numbers, described the design as "very elegant".
The new polymer banknotes show an engraving of King Charles based on a picture taken in 2013. Unlike the notes of his mother's reign, the King is not wearing a crown. The banknotes mark one of the last major steps of the transition to the reign of King Charles, with new stamps & coins already in circulation.
The Bank of England says there will be a gradual introduction for the King Charles banknotes, with the current Queen Elizabeth notes remaining in use until they become worn or damaged.
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