Officials from the Bank of England presented Britain’s King Charles III with the first set of banknotes bearing his portrait at Buckingham Palace in London on Tuesday.
The 75-year-old monarch was photographed with Bank of England Governor Andrew Bailey and Sarah John, chief cashier and chief executive of the banking department.
This is a historic moment as it is the first time the Bank of England is changing the image of a British monarch on a banknote since King Charles’ late mother, Queen Elizabeth II, became the first monarch to appear on a Bank of England banknote in 1960. The palace said:
The King was presented with GBP 5, 10, 20 and 50 notes.
The Bank of England has previously announced that polymer banknotes bearing the portrait of Queen Elizabeth II will remain legal tender and will be used alongside the new King Charles III banknotes. New banknotes will be printed only to replace worn out ones and to meet the general increase in demand for banknotes. Bank of England said:
Our approach is in line with guidance from the Royal Household, to minimise the environmental and financial impact of this change. This means the public will begin to see the new King Charles III notes very gradually.
The money will be released gradually into circulation from 5 June – Charles’ portrait will be placed on the front of the banknotes, as well as in the form of a cameo in a transparent security window visible on the front and back.
The symbols on the reverse side remain unchanged from previous issues. Sir Winston Churchill received £5, Jane Austen £10, J.M.W. Turner £20 and Alan Turing £50.
Today marks both happy and sad anniversaries for the King: the 19th wedding anniversary of his and the Queen’s marriage and the third anniversary of the death of his father, Prince Philip, the late Duke of Edinburgh. It is also the 22nd anniversary of the funeral of Charles’ grandmother, the Queen Mother.
The King’s meeting at the palace on Tuesday, which was photographed and filmed for publication, is seen as a positive sign in terms of his recovery after his cancer diagnosis was revealed in February.
He has stepped back from most of his public duties and was last seen at an Easter service late last month. The palace is reportedly planning to schedule more public events in the coming weeks as his treatment is said to be progressing well.
