Great Britain: King Charles III Banknotes in Circulation

On June 5, 2024, new banknotes displaying King Charles III went into circulation. This is reported by the Bank of England, which will be issuing bills in denominations of 5, 10, 20, and 50 pounds; banknotes with the portrait of Queen Elizabeth II will in any case continue to be legal tender and will be circulated together with the banknotes of the new sovereign.

“New King Charles III banknotes will only be printed to replace worn out ones and to meet any general increase in demand for banknotes,” the Bank of England wrote in a communiqué. “Our approach is in line with the Royal Court’s guidance to minimize the environmental and financial impact of this change.”

Coins depicting Charles III, however, are already in circulation since December 2022. It will be some time before the new bills are in circulation, so the Bank of England has announced that impatient subjects can exchange old bills for new ones through the bank, up to a maximum of 300 pounds.