King Charles III to Appear on Bank of England Notes

King Charles III will be the second monarch ever to appear on the Bank of England's banknotes. The announcement of when they will be issued, came from the Bank of England which announced that this change will take place on June 5. Will the new banknotes eliminate those of Queen Elizabeth II?

King Charles III looks to the left in the first coin with his portrait, Queen Elizabeth II still looks right in 27 billion coins

What will happen?

The banknotes depicting the portrait of Queen Elizabeth II will still be valid and will circulate together with the banknotes of King Charles III. The new banknotes with the printed face of the King will appear on the 5, 10, 20 and 50 pound notes. The new banknotes will be printed only to replace worn ones and to meet any overall increase in the demand for banknotes. The Bank of England has stated that its approach is in line with the guidelines of the Royal House, to minimize the environmental and financial impact dictated by this change.

Despite the new banknotes coming into effect on June 5 depicting a new monarch, the back of the banknote depicting figures of the calibre of Sir Winston Churchill (£5) and Jane Austen (£10) will remain unchanged. Finally, people wishing to exchange the banknotes of Queen Elizabeth II with those of King Charles III will be free to do so through the Bank of England, although some restrictions will be applied.