For the first time, British banknotes featuring King Charles III’s portrait have entered circulation, nearly two years after he ascended to the throne following the passing of his mother, Queen Elizabeth II.

Cash is King: Charles III Banknotes Enter Circulation

The new series of banknotes, which include denominations of £5 ($6.4), £10, £20, and £50, will be used alongside those depicting the late queen, who passed away in September 2022. Coins with King Charles’s image began circulating in December 2022.

Despite a growing preference among Britons for using physical and online bank cards for payments, Bank of England Governor Andrew Bailey emphasized the significance of this transition, calling it “a historic moment.” He acknowledged Queen Elizabeth II’s remarkable 70-year reign and reiterated the ongoing importance of cash for many people. “We know that cash is important for many people, and we are committed to providing banknotes for as long as the public demand them,” he said.

The portrait of King Charles III on the banknotes is based on a photograph owned by the royal household, which was made available in 2013. King Charles approved the final designs of the notes, featuring his engraved portrait, in late 2022.

These new banknotes are made from polymer, a material that has been used to replace paper money in the UK since 2016. The introduction of the polymer notes featuring King Charles III will gradually phase out the older ones, ensuring a smooth transition while maintaining the availability of cash for those who prefer it.

Read also: