Fresh banknotes featuring the image of King Charles III have been introduced into circulation in the United Kingdom on Wednesday.
The four banknotes featuring the king’s portrait come in denominations of £5, £10, £20, and £50, and they will be circulated alongside those adorned with the image of the late Queen Elizabeth, who passed away in September 2022.
Though coins bearing Charles’ head entered circulation in December 2022, banknotes had to be produced as Britons increasingly use physical and online bank cards, rather than cash, to make payments.
Bank of England’s governor, Andrew Bailey, called it “a historic moment”, with the late queen having served a record 70 years on the throne.
He pointed out that it might take a while before they become prevalent in wallets and purses. The newly minted Bank of England notes will slowly substitute damaged ones or be distributed as demand rises.
“This is a historic moment, as it’s the first time we’ve changed the sovereign on our notes,” said the Bank of England governor.
“We know that cash is important for many people, and we are committed to providing banknotes for as long as the public demand them,” he said.
Based on a photograph owned by the royal household and made available in 2013, Charles III in late 2022, approved the final designs of the notes featuring his engraved portrait.