The Bank of England has unveiled (20th December) the obverse portrait of HM King Charles III which will be depicted on banknotes from 2024. The portrait of His Majesty shows him dressed in the robes of the Order of the Garter with a greater portion of the collar and robes being included as the denomination of the banknotes are increased from £5 to £50. His Majesty’s portrait is placed to the right side as was the portrait of Her Late Majesty Queen Elizabeth II, along with his royal cypher, which includes the letters “C” and “R” with the Roman numeral “III.” As well as the printed portrait, his image also appears as a cameo in the see-through security window.
The Bank of England has advised the new banknotes are to enter circulation in mid-2024 and will only be printed and distributed to replace current banknotes that are unfit for circulation and to meet any overall increase in demand for banknotes. The bank’s approach is in line with guidance from the Royal Household to minimise the environmental and financial impact of the change of design. The reverse designs on the Series G polymer banknotes will not be changed nor will the colour schemes or dimensions. Currently, the personalities shown on the reverse sides are:
£5: Winston Churchill — released 2016
£10: Jane Austen — released 2017
£20: JMW Turner — released 2020
£50: Alan Turing — released 2021
The Bank of England has also advised that the current series, which includes the image of the Late Queen, will co-circulate and remain legal tender. HM King Charles III is the second British monarch to have their image included on Bank of England banknotes; the practise was introduced in 1960 with the introduction of the A series. For additional information about the new series, please click here.