New UK banknotes featuring King Charles III unveiled

The new £5, £10, £20 and £50 polymer plastic notes featuring King Charles III. AFP

The design of British banknotes featuring the image of new monarch King Charles III has been revealed.

The Bank of England said the king’s portrait will be the only change on designs of its £5, £10, £20 and £50 polymer plastic notes.

The notes will enter circulation in the middle of 2024, it said.

The king’s image will appear on the front of the banknotes, as well as in the see-through security window, said the bank.

But all existing plastic banknotes featuring Queen Elizabeth II will still be accepted as legal tender, with the public able to carry on using them as normal, it said.

Following royal guidance to keep the environmental and financial impact of the change to a minimum, the bank will only print new banknotes to replace those that are worn and when needed to increase the notes in circulation.

Notes featuring Queen Elizabeth II and King Charles III will “co-circulate”, the bank said.

Governor Andrew Bailey said: “I am very proud that the bank is releasing the design of our new banknotes which will carry a portrait of King Charles III.

“This is a significant moment, as the king is only the second monarch to feature on our banknotes.

“People will be able to use these new notes as they start to enter circulation in 2024.”

Kings Charles III coins go into production — in pictures

Fifty pence coins featuring the image of King Charles III are entering circulation this month, with 4.9 million being distributed across 9,452 Post Office branches nationwide.

The first Bank of England note to feature Queen Elizabeth II's portrait was a £1 note issued in 1960.

This was followed by a 10 shilling note in 1961.