Banknotes Featuring Charles III's Portrait to Be Issued in June... Gradual Replacement of Queen's Old Currency

Gradual Replacement of Old Banknotes Featuring Deceased Mother's Face
Front Shows the King, Back Displays Historical British Figures

Portrait of Charles III on the Pound Note [Image Source=Bank of England Website]

Banknotes featuring the portrait of King Charles III of the United Kingdom are scheduled to be issued starting in June. Traditionally, British pound notes have featured the monarch's portrait. The Bank of England (BOE), the UK's central bank, announced on the 21st (local time) that pound notes bearing the face of Charles III will be circulated from June 5. The monarch's portrait will appear on the ?5, ?10, ?20, and ?50 notes.

The new banknote design is identical to the existing notes except that the portrait subject has changed from Queen Elizabeth II to King Charles III. Additionally, the old notes will remain valid even after the new notes are circulated.

Previously, Charles III officially ascended to the throne following his coronation at Westminster Abbey on May 6 last year. Although the monarch changed, necessitating the replacement of pound notes with new ones, the king did not immediately replace the notes bearing the portrait of his late mother, Queen Elizabeth II.

The British royal family encourages a "gradual replacement" of banknotes to minimize environmental and economic impacts. The BOE also stated, "There are no plans to withdraw good quality notes already in circulation," and "The currency will be changed gradually to minimize financial and environmental impacts caused by the currency change."

Banknote featuring the face of Queen Elizabeth II [Photo by Asia Economy]

Meanwhile, the reverse sides of pound notes feature the faces of historical figures who contributed to the UK. For example, former Prime Minister Winston Churchill, 18th-century novelist Jane Austen, Britain's leading Impressionist painter Joseph Mallord William Turner, and Alan Turing, the father of computer science and a pioneer of artificial intelligence (AI), are depicted.

In Commonwealth member countries that share the same monarch as the UK, such as New Zealand, Australia, and Canada, the situation is more complex. Australia has decided not to introduce Charles III's portrait on its currency, while Canada’s decision remains undecided. However, in Canada, banknotes featuring Queen Elizabeth II's face are expected to remain in circulation for up to 20 more years.

The situation with coins is different. Australia has decided to produce Australian dollar coins featuring Charles III's portrait, and similar coins are planned in Canada. New Zealand reportedly has no plans to introduce new currency yet.

Meanwhile, it has been reported that Charles III was diagnosed with cancer while receiving treatment for benign prostatic hyperplasia. Buckingham Palace announced the king’s cancer diagnosis on the 5th. However, specific details such as the type of cancer and its stage have not been disclosed.

Charles III has started treatment as an outpatient and is expected to refrain from public appearances for the time being. However, he will continue to perform his constitutional duties as head of state, including paperwork and private meetings, and is reported to be maintaining face-to-face meetings with UK Prime Minister Rishi Sunak.

This content was produced with the assistance of AI translation services.