Cash is king: Charles III banknotes enter UK circulation
- The portrait of the king will appear on all four banknotes issued by the Bank of England – 5, 10, 20 and 50 pounds
British banknotes bearing the image of King Charles III entered circulation for the first time on Wednesday, nearly two years after he succeeded his mother, Queen Elizabeth.
The portrait of the king will appear on all four banknotes issued by the Bank of England – 5, 10, 20 and 50 pounds – with no other alterations to the existing designs. The notes will coexist alongside those bearing the image of Elizabeth, who died in September 2022.
In line with guidance from the Royal Household, the new notes will only be printed to replace those that are worn, and to meet any overall increase in demand – the approach aims to minimise the environmental and financial impact of the change.
Coins bearing Charles’s head entered circulation in December 2022.
The updates come as Britons increasingly use physical and online bank cards, rather than cash, to make payments.
“This is a historic moment, as it’s the first time we’ve changed the sovereign on our notes,” said Bank of England Governor Andrew Bailey.
