New Banknotes Featuring King Charles III Enter Circulation in the UK
On 5 June, the first banknotes featuring the portrait of King Charles III, who ascended to the throne in autumn 2022, entered circulation in the UK. His image will appear on all four denominations: £5, £10, £20, and £50, while other design elements of the British currency will remain unchanged, according to the Bank of England.
The new banknote design featuring King Charles III was unveiled in December 2022. These updated banknotes will be introduced gradually, with all existing banknotes bearing the portrait of the late Queen Elizabeth II remaining valid and being phased out only as they become worn.
"New banknotes will be printed solely to replace worn-out ones and to meet the overall increase in demand for banknotes. This approach aligns with the Royal Household’s guidelines to minimise the environmental and financial impact of this change," the Bank of England stated.
It is noteworthy that 50p coins featuring King Charles III entered circulation earlier, with 4.9 million coins of this denomination bearing the new king's profile released nationwide in December 2022.
Queen Elizabeth II was the only monarch to appear on Bank of England banknotes since 1960. However, British monarchs have not been depicted on banknotes issued by Scottish and Northern Irish banks.
The Gaze also reported that Buckingham Palace has unveiled the first official portrait of King Charles III since his coronation. The painting, an oil on canvas measuring 2.8 by 2.2 metres, will be displayed at Drapers’ Hall in London. The portrait was created by Jonathan Yeo, known for his portraits of former Prime Minister Tony Blair and British broadcaster David Attenborough.
In the portrait, King Charles III is depicted in the uniform of the Welsh Guards, a title he received in 1975. The canvas, painted in vivid shades of red, seamlessly blends with the background, accentuating the king’s face. Additionally, a butterfly is perched on the king’s shoulder in the painting.