Steph Deschamps / December 20, 2022
The first banknotes bearing the effigy of Charles III, who became king after the death of his mother Queen Elizabeth II on September 8, which will enter into circulation in mid-2024 in the United Kingdom, were unveiled Tuesday by the Bank of England.
The portrait of the king will appear on the existing models of the four bills" of 5, 10, 20 and 50 pounds, "without further modification" in their design, announced the central bank in a statement.
The image of Charles III will appear in place of the face of his mother on the front of the bills and in medallion in the transparent security window, according to the visuals unveiled by the monetary institute.
The portrait is an engraving made from a photo "provided by the royal family in 2013" and the visuals, finalized in recent months, have been validated by the monarch, a spokesman for the Bank of England told AFP.
The polymer bills - which have been gradually replacing paper money in the UK since 2016 - will be produced on a large scale from the first half of 2023 before entering circulation the following year.
Bills bearing the likeness of Elizabeth II will continue to circulate in parallel and will only be withdrawn when they are damaged to "minimize the environmental and financial impact" of the change of monarch, following the guidelines of the Royal Household, the statement said.
The first coins bearing the effigy of Charles III entered into circulation in early December, appearing in post offices across the country.
Some 27 billion coins are currently in circulation in the United Kingdom, bearing the face of the late Elizabeth II: they too will remain valid and will only be replaced when damaged or worn.