Bank Of England Announces The Design Of UK New Paper Money: Show King Charles III, Circulating In 2024

Long awaited, the Bank of England finally revealed the design of a new British banknote featuring a picture of the new king, King Charles III.

The Bank of England says the king's portrait will be the only change to the design of the banknotes for banknotes for banknotes.

"The money will start circulating in mid-2024," the Bank of England said, as reported by The National News on December 20.

The image of King Charles III will appear on the front of the banknote, as well as in the see-through security window, explained the Bank of England.

Despite issuing plastic banknotes with pictures of the new king, the old money featuring Queen Elizabeth II is still accepted as legal tender.

"People can continue to use it as usual," the Bank of England said.

Following royal guidelines for minimizing the environmental and financial impacts of such changes, new banknotes are not printed in large quantities.

This means that banks will only print new banknotes to replace outdated banknotes, and if necessary, increase the circulation of banknotes.

"paper money featuring Queen Elizabeth II and King Charles III will be circulating together," the bank said.

"I am very proud that the bank has released the design of our new banknote which will contain a portrait of King Charles III," said Bank of England Governor Andrew Bailey.

"This is an important moment, because he is the second king to be displayed on our banknotes," he continued.

"People will be able to use these new banknotes when they start circulating in 2024," Bailey said.

It is known that the nominal coin of fifty cones featuring images of King Charles III began circulating this month, with 4.9 million coins distributed across the country in 9,452 Post Office branches.

The first bank of England bank note to feature a portrait of Queen Elizabeth II was a mitigating banknote issued in 1960. This was followed by a paper in 1961.