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 King Charles III banknotes unveiled infographic
Graphic shows how the new banknotes look compared to the current iteration.
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MONARCHY

Bank of England unveils new King Charles III banknotes

By Ninian Carter

December 20, 2022 - Following the death of Queen Elizabeth II, the Bank of England has unveiled new polymer banknotes featuring King Charles III.

The Bank of England has unveiled four new polymer King Charles III banknotes that will enter circulation in mid-2024, and gradually replace those that feature the late Queen Elizabeth II, who first appeared on paper money in 1960.

All polymer banknotes carrying a portrait of the late Queen will remain legal tender, and will only be replaced by banknotes depicting King Charles III when they are worn out and need to be withdrawn – meaning notes featuring Queen Elizabeth II and King Charles III will both be legal tender.

There are nearly 5 billion Bank of England notes in circulation – worth around £82 billion ($100 billion).

The reverse side of the new banknotes will continue to feature former Prime Minister Winston Churchill (£5), author Jane Austen (£10), painter JMW Turner (£20) and mathematician Alan Turing (£50).

Sources
PUBLISHED: 20/12/2022; STORY: Graphic News
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