New banknotes showing King Charles have been unveiled

The Bank of England has unveiled the new series of bank notes featuring the new monarch, King Charles III.

King Charles is set to be officially crowned at a coronation held on 6 May, 2023, but he became the new ruler following the death of his mother Queen Elizabeth II in September.

His new position brings with it not only a glittering crown, but also a change to the coins, banknotes, passports and stamps which previously displayed the Queen's face - although the banknotes won't enter circulation for a long time yet.

Bank of England

The Bank of England unveiled the design of the new banknotes today (20 December), with a press release explaining that the design of the notes will remain the same apart from the portrait of the King, which will appear on the £5, £10, £20 and £50 notes.

The current series of banknotes features a number of characters in the designs, including Winston Churchill on £5, Jane Austen on £10, JMW Turner on £20 and Alan Turing on £50.

Brits will be able to spot King Charles on the front of the banknotes, as well as in 'cameo' in a see-through security window.

Bank of England

It's set to be a fair while before the bills start to do the rounds in public, with the notes expected to enter circulation by mid-2024.

The Bank has explained that any notes featuring Queen Elizabeth II will co-circulate with the new King Charles notes, meaning you won't have to say goodbye to any notes bearing the Queen's face straight away.

The Bank of England assures all notes carrying a portrait of Queen Elizabeth II will remain legal tender and can continue to be used as normal.

The King Charles notes will only be printed to replace old, worn banknotes and to meet an overall increase for demand in the cash to ensure the bank keeps in line with guidance from the Royal Household to minimise the environmental and financial impact of the change.

Bank of England

Speaking ahead of the release of the notes, Governor Andrew Bailey said: “I am very proud that the Bank is releasing the design of our new banknotes which will carry a portrait of King Charles III.

"This is a significant moment, as The King is only the second monarch to feature on our banknotes. People will be able to use these new notes as they start to enter circulation in 2024.”