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King Charles III receives new portrait on banknote
King Charles III receives its own banknote with portrait - Queen will not be replaced! New banknotes are intended to replace worn-out notes, but remain legal tender. Exchange possible. 🇬🇧👑 #KingCharlesIII #Banknote #QueenElizabethII
King Charles III receives new portrait on banknote
King Charles III proudly presents his first banknote bearing his portrait, issued by the Bank of England. Despite his ongoing chemotherapy, the monarch attended the ceremony, where the bank's governor Andrew Bailey and chief treasurer Sarah John presented the notes. The new banknotes in denominations of 5, 10, 20 and 50 pounds will be officially put into circulation from June 5th. Charles III will be only the second British monarch to have his likeness adorn a banknote, after his mother.
The Bank of England clarified that the introduction of the new banknotes does not mean that the banknotes with the image of Queen Elizabeth II will be replaced. The Queen's Royal Banknotes remain valid as legal tender. The newly issued King's banknotes are mainly intended to replace old and worn-out notes. This process is carried out gradually to protect the environment and ensure that the old banknotes are used for as long as possible.
For those in the UK who don't want to wait to see the new banknotes in daily circulation, there is an option to exchange them for the current Queen issues in limited quantities directly at the Central Bank. This measure allows citizens to have early access to the new banknotes, while the existing notes continue to be accepted.