If so, King Charles will be the second ruler of England, whose image will appear on the pound banknote. Previously only his mother Queen Elizabeth II was featured on the pound banknote.
Banknotes have been issued by the Bank of England since the 1600s, but the 1960s marked the first time a member of the royal family appeared on the note. Queen Elizabeth II was featured on the £1 banknote that year for the first time.
Then the second time this happened to King Charles.
The Bank of England has announced that all banknotes on the market, including the 5, 10, 20 and 50 pound banknotes, will feature the king’s image.
The front of the banknote will feature the image of the King, as well as the transparent ‘see-through security window’ of the note to prevent counterfeiting, the image of King Charles will also be visible. It should be noted, however, that the image of the Queen has been on bank coins for centuries.
As there are notes in the market with the image of Queen Elizabeth II, they will remain valid. This means that banknotes with portraits of Queen Elizabeth II and her son King Charles will remain in circulation.
The central bank said, in this regard, it is proceeding as per the advice of the British royal family. It has been suggested by the royal family that the environmental and financial impact of printing the notes should be minimal. In that case, only new banknotes should be printed instead of torn, canceled notes.
According to bank sources, currently cash transactions have decreased at a rapid rate. As card and contactless payments have increased manifold. But despite that there are still about 4.7 billion banknotes in the market. The notes, which include a portrait of Queen Elizabeth II, have a combined value of around £82 billion.
Banknote types have changed since 2016. According to the Bank of England, banknotes made of polymer (a type of thin and flexible plastic) gradually replaced paper notes from that year. There was a picture of Winston Churchill on the back side of the banknote.