NEW DELHI: The Bank of England announced on Wednesday that banknotes in the UK featuring a portrait of King Charles III will be introduced for the first time starting June 5.
The 75-year-old British monarch’s portrait will be incorporated into the existing designs of all four denominations – GBP 5, 10, 20, and 50 – with no further alterations.
Polymer banknotes featuring the portrait of his late mother, Queen Elizabeth II, will remain legal tender and circulate concurrently with the new King Charles III notes.
The central bank of England said that the new banknotes will only be will only be printed to replace those that are worn out and to meet increasing demand for banknotes overall.
“Our approach is in line with guidance from the Royal Household to minimise the environmental and financial impact of this change. This means the public will begin to see the new King Charles III notes very gradually,” Bank of England said.
The newly launched portrait design last year will feature King Charles III’s image on the front of the banknotes, along with a cameo in the transparent security window. The reverse side of the notes will remain unaltered.
The current Series G of UK banknotes highlights Winston Churchill on the 5-pound notes, Jane Austen on the 10-pound notes, JMW Turner on the 20-pound notes, and Alan Turing on the 50-pound notes.
Upon the issuance of the new King Charles III notes on June 5, members of the British public will have a limited window to exchange current or old series notes for the new ones through the central bank.
A series of charity auctions featuring low-serial numbered banknotes will be conducted in the upcoming months by the Spink & Son auction house. Additionally, the public will have the opportunity to participate in a ballot to acquire a set of notes, with the proceeds directed towards charitable causes.
( with input from agency)
The 75-year-old British monarch’s portrait will be incorporated into the existing designs of all four denominations – GBP 5, 10, 20, and 50 – with no further alterations.
Polymer banknotes featuring the portrait of his late mother, Queen Elizabeth II, will remain legal tender and circulate concurrently with the new King Charles III notes.
The central bank of England said that the new banknotes will only be will only be printed to replace those that are worn out and to meet increasing demand for banknotes overall.
“Our approach is in line with guidance from the Royal Household to minimise the environmental and financial impact of this change. This means the public will begin to see the new King Charles III notes very gradually,” Bank of England said.
The newly launched portrait design last year will feature King Charles III’s image on the front of the banknotes, along with a cameo in the transparent security window. The reverse side of the notes will remain unaltered.
The current Series G of UK banknotes highlights Winston Churchill on the 5-pound notes, Jane Austen on the 10-pound notes, JMW Turner on the 20-pound notes, and Alan Turing on the 50-pound notes.
Upon the issuance of the new King Charles III notes on June 5, members of the British public will have a limited window to exchange current or old series notes for the new ones through the central bank.
A series of charity auctions featuring low-serial numbered banknotes will be conducted in the upcoming months by the Spink & Son auction house. Additionally, the public will have the opportunity to participate in a ballot to acquire a set of notes, with the proceeds directed towards charitable causes.
( with input from agency)