THE BANK of England has unveiled its first banknotes featuring King Charles III, following the death of Queen Elizabeth II.
The notes are expected to enter circulation in mid-2024, gradually replacing those featuring Charles’s late mother, who began appearing on paper money in 1960.
There are over 4.7 billion Bank of England notes in circulation, together worth about £82 billion ($99.8 billion). Since 1956 they have been printed at the Debden Printing Works, a high-security compound in Essex.
The Royal Mint, which produces the UK’s coins, has already revealed its currency with the King’s likeness, created by the sculptor Martin Jennings. There are currently 27 billion coins in circulation carrying the Queen’s face, which will be replaced over time as they become worn.
The reverse side of the new English banknotes will continue to feature former Prime Minister Winston Churchill, author Jane Austen, painter JMW Turner and mathematician Alan Turing. — Bloomberg