King Charles presented with first banknote with his portrait | Royal | News

King Charles has been presented with the first bank notes featuring his portrait, as they are due to enter circulation in the coming weeks.

The Bank of England Governor Andrew Bailey and Sarah John, the Bank of England’s Chief Cashier showed him the new notes at Buckingham Palace today.

Charles was presented with £5, £10, £20 and £50 notes – the first notes which feature the image of His Majesty – and he remarked that they were “very well designed”.

The new bank notes will enter circulation from June 5, the Bank of England announced in February.

It marks the first time the Bank of England has changed the image of The Monarch on a banknote, as the late Queen Elizabeth was the first Monarch to appear on a Bank of England note, in 1960.

Old notes featuring the late Queen Elizabeth II will remain legal tender and will co-circulate alongside the new ones.

Charles’s portrait will appear on existing designs of all four banknotes (£5, £10, £20 and £50), with no other changes.

An announcement read: “The new banknotes will only be printed to replace those that are worn, and to meet any overall increase in demand for banknotes.”

The Bank of England added the public will see the new King Charles notes very gradually as its approach is in line with guidance from the Royal Household “to minimise the environmental and financial impact of this change”.

The public will also be able to exchange a limited value of current or old series notes for new King Charles notes, through the BoE.

The new banknotes will feature King Charles on one side, but the reverse side of the notes will remain unchanged.

On £10 notes, author Jane Austen will still appear, artist JMW Turner will feature on £20 notes and computer scientist Alan Turning will continue to be on £50 banknotes.

Source link