On the 20th of December, the Bank of England unveiled the design of bank notes featuring King Charles III. These notes are expected to enter circulation by mid 2024. It is said to be a significant moment as the King is only the second monarch to feature on bank notes.
The portrait of the King will appear on existing designs on all four polymer bank notes with no other changes to the existing designs. King Charles became King after the death of his mother Queen Elizabeth II, on September 8th this year. It is reported that these new bank notes will be printed only to replace worn bank notes and to meet any overall increase in demand for bank notes. This move will minimise the environmental and financial impact of this change. Earlier this month, the first coins with the image of the King were released.