Following the death of Queen Elizabeth, new banknotes bearing the image of King Charles III, the country's next king, will be printed, causing a change in England's currency. According to Entertainment Tonight, the Bank of England said on Monday that King Charles III-themed banknotes would be unveiled by the end of the year.
There have been rumours that King Charles' image will be on all four polymer banknotes, which range in value from 5 to 50 pounds. Although it may take some time until these notes go into circulation, they will be a continuation of the present polymer series and no more changes to the banknote designs will be made. The currency changes follow the departure of Queen Elizabeth, the longest-reigning queen in British history, who died on September 8 at the age of 96.
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The press statement also stated that Queen Elizabeth II-themed banknotes now in circulation will be kept in circulation. Additionally, as part of the royal household's attempts to limit waste, new notes will only be issued to replace worn banknotes and to meet any general increase in demand for banknotes "the environmental and financial impact of the change of monarch."
Reuters has also claimed that the first King Charles III-themed coins will go into circulation in response to demand from banks and post offices. The Bank of England further stated that Charles-portrait banknotes were anticipated to go into circulation by the middle of 2024. The validity of all current bills and stamps featuring the image of the queen has also been upheld.