King Charles III's portrait will soon make an appearance in wallets.
Following the passing of Queen Elizabeth II, the Bank of England will print new banknotes featuring Charles, who became King upon his mother's death on Sept. 8. For those who are wondering whether your Queen Elizabeth bills will soon become a relic of the past, the Bank of England issued a release that details how Her Majesty will continue to be remembered through the country's currency.
The late Monarch has appeared on the banknotes since 1960, after the UK Treasury granted the Bank of England permission in 1954 to user her portrait on the currency. The Bank of England currently circulates £5 with Winston Churchill, £10 with Jane Austen, £20 with JMW Turner and £50 with Alan Turing banknotes—soon to join them will be Charles' portrait.
Read on for more details about England's money after the Queen's death.
How will currency change after Queen Elizabeth's death?
King Charles III will be featured on new bills starting in 2024, though money with the Queen's portrait will continue to be valid.
Will King Charles III be on the pound?
Yes, King Charles' portrait will appear in the front of all the bills, while the other iconic British figures will be on the back. The Bank of England states that "no additional changes to the banknote designs will be made."
When will the money be made available?
For those who are looking to grab banknotes with Charles' portrait, it's best to be patient. According to the Bank of England, the money is "expected to enter circulation by mid-2024."
Will currency with Queen Elizabeth II stop being accepted?
Queen Elizabeth's portrait on the banknotes isn't going anywhere. Per the Bank of England, the institution received guidance from the royal household to "minimise the environmental and financial impact of the change of monarch," therefore existing bills with the late Queen's portrait will continue to circulate. New banknotes will be printed to replace any worn bills and "to meet any overall increase in demand for banknotes."
The bills will only be removed if they've become worn or damaged, meaning Queen Elizabeth's banknotes will co-circulate with her son Charles' portrait.