Queen Elizabeth II and King Charles III coins and banknotes will circulate together

That Bank of England has shown that images of updated banknotes with a portrait of King Charles III will be released at the end of this year.

It comes as the bank announced plans for coins and notes after the death of Queen Elizabeth the second.

With the announcement that the currency will be co-circulating with the late monarch and her son.

See currency that has features the Queen be replaced over time as coins and notes become damaged or worn out.

However, the royal coin has announced that coins bearing the king’s effigy will be put into circulation in response to demand from banks and post offices.

The Bank of England reveals what will happen to banknotes and coins after the Queen's deathcanvas

In addition, they will circulate together with coins the Queen “for many years”.

In keeping with the new monarch, new banknotes featuring Charles are expected to enter circulation in mid-2024 and his portrait will appear on existing designs of all four denominations of the banknote (£5, £10, £20 and £50).

Bank of England also informed that existing stocks of banknotes are in place, in line with the Royal Household’s guidelines to minimize the environmental and financial impact of the change of monarch the Queen will continue to be circulated.

This means that new banknotes are only printed to replace worn out banknotes and to meet an overall increasing demand for banknotes.

Current banknotes with the portrait of the Queen will continue to be legal tender and will not be phased out until worn or damaged, meaning they will circulate alongside those featuring Charles.

The Royal Coin said it would reveal more details about the coins the king In the coming weeks.

All British coins bearing the effigy of the Queen will remain legal tender and in active circulation, the mint said.

The Bank of England reveals what will happen to banknotes and coins after the Queen's deathPA

Around 27 billion coins bearing the Queen’s effigy are currently in circulation in the UK.

However, these will be replaced over time as they become damaged or worn out and to meet the need for additional coins.

Anne Jessopp, Managing Director of the royal coinsaid: “We are honored to have minted every British coin from the reign of Her late Majesty, charting her journey from young Queen to distinguished Head of State.

Added: “The first coins with the effigy of His Majesty King Charles III. are circulated according to demand from banks and post offices.

“That means the minting of King Charles III. and Queen Elizabeth the second will be circulating in the UK for many years to come.”

https://www.theargus.co.uk/news/22681173.coins-banknotes-queen-elizabeth-ii-king-charles-iii-will-co-circulate/?ref=rss Queen Elizabeth II and King Charles III coins and banknotes will circulate together

Fry Electronics Team

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