It’ll be soon time to get rid of these fivers
The Bank of England has revealed when images of Charles’ face will appear on banknotes and coins.
Bank notes, coins and stamps featuring the face of King Charles III have been announced alongside the unveiling of his Majesty’s new monogram.
We do have to wait a few months before we can see them as images of updated banknotes featuring a portrait of the King will be revealed by the Bank of England by the end of this year.
The transition for the public will be smooth as coins and banknotes featuring King Charles III and Queen Elizabeth II will co-circulate, under the plans.
The Royal Mint said that coins bearing the effigy of the King will enter circulation in line with demand from banks and post offices, and will circulate alongside coins featuring the Queen “for many years to come”.
No need to rush getting rid of the notes under your bed – there is time.
New banknotes featuring Charles are expected to enter circulation by mid-2024 and his portrait will appear on existing designs of all four denominations of banknote (£5, £10, £20 and £50).
This will be a continuation of the current polymer series and no additional changes to the banknote designs will be made, the Bank of England said.
There are around 27 billion coins currently circulating in the UK bearing the effigy of the Queen. These will be replaced over time as they become damaged or worn, and to meet demand for additional coins.
Four stamps that feature portraits of the Queen will also released in her memory, the Royal Mail has announced.
Simon Thompson, chief executive of Royal Mail, said: “For the past 70 years every British stamp has been personally approved by Her Late Majesty, Queen Elizabeth.
“Today we are unveiling these stamps, the first to be approved by His Majesty The King, in tribute to a woman whose commitment to public service and duty was unparalleled in the history of this country.”
A presentation pack of all four stamps will retail at £6.95 and is available to pre-order on the Royal Mail’s website.
This comes as Australians have been suggesting that Steve Irwin should feature on their banknotes instead of the King following the Queen’s passing.
Just like in several Commonwealth countries, the British monarch is the head of state in Australia and appears on currency.
Other suggestions for things that could replace King Charles III on Australian currency included Australian sitcom characters Kath & Kim, Neighbours soap opera character Alf Stewart, a pavlova or Kylie Minogue.
Unfortunately for these people, the Reserve Bank of Australia (RBA) has confirmed King Charles III is expected to feature on a new $5 note.
“The reigning monarch has traditionally appeared on the lowest denomination of Australian banknote,” the RBA said.
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