New banknotes with King Charles III's portrait on them are now being issued for the first time, and fresh Bank of England notes will be printed to gradually replace any damaged ones.
Queen Elizabeth II was first seen on banknotes in 1960, and the King only the second monarch to be depicted on notes.
The current £5, £10, £20, and £50 notes featuring the late Queen's portrait are still legal tender. The banknotes still have the same images on the back, including Sir Winston Churchill, Jane Austen, JMW Turner and Alan Turing.
Instead of the monarch, other images are included on notes produced in Scotland and Northern Ireland.
The image used to create the King's portrait was shot in 2013.
Will the Queen Elizabeth II notes remain legal tender?
Banknotes featuring King Charles entered circulation on June 5.
Notes featuring the image of the King’s late mother, Queen Elizabeth II, will remain legal tender and can be used in shops as normal.
The new notes will gradually replace those featuring the Queen but there won’t be any other changes to the notes, so figures like Winston Churchill and Jane Austen will still feature on the other side.
What about coins featuring King Charles?
The first coins featuring King Charles’s profile have been issued by the Royal Mint and were in circulation at the start of December.
King Charles was seen first on the 50p coins, on which his face is in profile when the coin is turned to the left.
This was different from the Queen’s image on coins, which featured her profile when turned to the right.
On the coin’s reverse is a tribute to Her Majesty – a design that originally appeared on the 1953 Coronation Crown, struck to commemorate her coronation at Westminster Abbey. It includes the four quarters of the Royal Arms depicted within a shield. Between each shield is an emblem of the home nations: a rose, a thistle, a shamrock and a leek.
Sky News reported that, during December, 4.9 million 50ps would enter circulation at 9,452 post office branches. Almost double that number will eventually be released.
Coins containing the Queen’s image are likely to remain in circulation for a long time, Sky News said. About 27 billion are in existence and they will remain legal tender.
Other parts of the world have also updated their tender. In December 2023, Canada unveiled its first CA$1 coins featuring the King’s profile. Canadian Prime Minister Justin Trudeau’s government said that the country’s $20 note would also eventually have a facelift, however, it currently continues to feature Queen Elizabeth II.
