King Charles was presented with the first of the new £5, £10, £20, and £50 banknotes featuring his portrait at Buckingham Palace on Wednesday. The new banknotes are set to go into circulation in June, with the existing banknotes from the reign of Queen Elizabeth II continuing to be used alongside the new notes.
According to the BBC, the tradition of the monarch receiving the first issues of new banknotes was followed, with King Charles coming face to face with his own face on the new banknotes. Andrew Bailey, governor of the Bank of England, showed the King the banknotes during a private meeting at the palace. Mr. Bailey told the King that this was the first time the Bank of England had to change the monarch on the banknotes, as the late Queen Elizabeth II had been the first monarch to have her portrait on all of the Bank of England’s banknotes.
Despite his cancer diagnosis, King Charles has continued to participate in private events, such as this meeting, where he was presented with a set of notes with special serial numbers. The new polymer banknotes feature an engraving of King Charles based on a picture taken in 2013, but unlike the notes of his mother’s reign, the King is not wearing a crown. The banknotes mark one of the last major steps of the transition to the reign of King Charles, with new stamps and coins already in circulation.
According to the Bank of England, there will be a gradual introduction of the King Charles banknotes, with the current Queen Elizabeth notes remaining in use until they become worn or damaged. While the new notes are being launched on June 5, it could be some months before people see them in regular circulation, says the bank. The trend towards cashless payments could also mean that the change in notes is not immediately visible.
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