Canada
This article was added by the user . TheWorldNews is not responsible for the content of the platform.

Bank of England to reveal King Charles banknotes this year

Author of the article:

Bang Showbiz

Bang Showbiz

King Charles III and Camilla, Queen Consort are seen in a car as the coffin of Queen Elizabeth II is transferred from the gun carriage to the hearse at Wellington Arch following the State Funeral of Queen Elizabeth II at Westminster Abbey on Sept. 19, 2022.
King Charles III and Camilla, Queen Consort are seen in a car as the coffin of Queen Elizabeth II is transferred from the gun carriage to the hearse at Wellington Arch following the State Funeral of Queen Elizabeth II at Westminster Abbey on Sept. 19, 2022. Photo by Andy Stenning - WPA Pool /Getty Images

King Charles banknotes will be revealed by the end of this year before entering circulation in 2024.

The Bank of England has confirmed plans to introduce currency featuring the new monarch following the death of his mother Queen Elizabeth aged 96 on Sept. 8.

From our newsroom to your inbox at noon, the latest headlines, stories, opinion and photos from the Toronto Sun.

By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300

In a press release, the Bank of England said: “His Majesty’s portrait will appear on existing designs of all four polymer banknotes (5 pound, 10 pound, 20 pound and 50 pound).

“This will be a continuation of the current polymer series and no additional changes to the banknote designs will be made.

“In line with guidance from the Royal Household to minimize the environmental and financial impact of the change of monarch, existing stocks of notes featuring HM Queen Elizabeth II will continue to be issued into circulation.

“New notes will only be printed to replace worn banknotes and to meet any overall increase in demand for banknotes.”

The current banknotes featuring the queen will “continue to be legal tender and will only be removed from circulation once they become worn or damaged,” while they will “co-circulate” with those featuring the new king.

Meanwhile, the Royal Mint has confirmed coins bearing the effigy of King Charles will enter circulation based on demand from banks and post offices.

In a statement, Anne Jessopp – chief executive officer of the Royal Mint – said: “We are honoured to have struck each U.K. coin of her late majesty’s reign, documenting her journey from young Queen to respected head of state.

“As official coin makers to the U.K., we have told the story of each monarch since Alfred the Great and are now preparing for the biggest change in British coinage for several decades.

“The first coins bearing the effigy of His Majesty King Charles III will enter circulation in line with demand from banks and post offices.

“This means the coinage of King Charles III and Queen Elizabeth II will co-circulate in the U.K. for many years to come.”