Starting this June, Bank of England banknotes will feature a portrait of King Charles III.

The King’s likeness will be integrated into the existing designs of all denominations (£5, £10, £20, and £50), without any alterations to the current designs. Banknotes showcasing Queen Elizabeth II will continue to be legal tender and will circulate alongside the new King Charles III notes.

The issuance of the new banknotes will primarily focus on replacing worn-out notes and meeting any rise in demand for currency. The Bank of England emphasizes its commitment to minimizing the environmental and financial impact of this transition, following guidance from the Royal Household.

Note Exchanges / Auctions

New banknotes featuring King Charles III’s portrait will debut on June 5.

Starting from the issuance date of June 5, 2024, individuals from the general public will have the opportunity to exchange current or previous series notes for the new King Charles III notes, within a limited value, facilitated by the Bank of England. The bank says further information regarding this exchange process will be provided closer to the specified date.

Throughout the summer, a series of charity auctions featuring low-serial numbered notes will take place at Spink & Son. Alongside these auctions, members of the public will have the chance to participate in a ballot for the purchase of a set of notes.