For the first time, British banknotes featuring King Charles III have entered circulation, nearly two years after he ascended the throne following the passing of Queen Elizabeth II.
The new notes, available in denominations of £5, £10, £20, and £50, will be used alongside the existing notes bearing the late Queen Elizabeth’s image. This change follows the introduction of coins featuring Charles’s head in December 2022.
Despite a growing trend towards using digital and card payments, Bank of England governor Andrew Bailey emphasized the significance of this development, calling it “a historic moment.” He acknowledged the late queen’s remarkable 70-year reign and reassured the public of the continued availability of cash. “We know that cash is important for many people, and we are committed to providing banknotes for as long as the public demands them,” Bailey stated.
King Charles approved the final designs of these notes, which are based on a 2013 photograph owned by the royal household, in late 2022. The new banknotes, made from polymer—a material that has been used to replace paper money in the UK since 2016—will gradually phase out the older notes featuring Queen Elizabeth.
