The Bank of England Museum Unveils New £10 Note Featuring King Charles III

The Bank of England Museum has presented the new ten-pound note, featuring a portrait of King Charles III. These new banknotes will enter circulation from June 5, gradually, replacing those currently in circulation with the effigy of Queen Elizabeth. Only damaged banknotes will be withdrawn and, once out of circulation, will be shredded and recycled to be transformed into other materials. The governor of the Bank of England, Andrew Bailey, presented King Charles III with the first new banknotes featuring his portrait, in various denominations of 5, 10, 20, and 50 pounds. Bailey, accompanied by Chief Cashier Sarah John, handed the monarch a leather-bound booklet with the new banknotes, which will enter circulation on June 5, but gradually, as highlighted by the royal house, thus not replacing those depicting Queen Elizabeth, except for those worn and damaged. Furthermore, starting from June 5, it will be possible to exchange a limited number of old series banknotes with new King Charles banknotes, through the Bank of England. In April last year, the BBC obtained exclusive access to the site where the banknotes are produced. However, machines such as self-service checkouts needed time to recognize the new image, which is why it took so long before they could enter circulation. The Queen Elizabeth banknotes, already in circulation, can still be used in shops even after the new banknotes enter circulation. The King Charles banknotes will only replace them when they are no longer fit for use or when there is an increase in demand. The first Bank of England banknote featuring the portrait of Queen Elizabeth II was a one-pound note issued in 1960.