King Charles banknotes to enter circulation on June 5

The new banknotes featuring King Charles will gradually replace worn notes and meet demand increases, with existing Queen Elizabeth II notes remaining legal tender.

• Banknotes featuring King Charles will start circulating in the UK from June 5, 2024, appearing on £5, £10, £20, and £50 denominations.
• The introduction of the new notes follows the unveiling of their design in December 2022, marking a significant update to the UK's currency.
• Existing banknotes featuring Queen Elizabeth II will continue to be legal tender, co-circulating with the new King Charles notes.
• The Bank of England aims to minimize environmental and financial impacts by issuing new notes primarily to replace worn ones and for demand surges.
• A series of charity auctions for low-serial numbered notes will be held, with proceeds going to charity.

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