Since June 5, the Bank of England has launched new banknotes with a portrait of King Charles III in circulation, writes UNN with reference to the BBC.
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The new banknotes will gradually, slowly replace the current ones in circulation, with a portrait of Queen Elizabeth II, who died in September 2022 - according to as they wear out.
Charles III became only the second British monarch whose portrait appeared on banknotes. For the first time, the portrait of the monarch began to be printed on paper pounds in 1960, and then Elizabeth was on the throne - by she had reigned for eight years by that time.
"This is a historic moment: we are changing the portrait of the sovereign on our banknotes for the first time," said Andrew Bailey, governor of the Bank of England.
On the reverse side of the bills, the same faces remained: on five pounds - Winston Churchill, on ten - the writer Jane Austen, on twenty - the artist Joseph Turner, on fifty - the mathematician Alan Turing.
Several banks in Scotland and Northern Ireland, by agreement with the Bank of England, issue their own Scottish and Irish pounds, and neither the monarch nor these famous Englishmen are on their banknotes.
The first banknotes with Charles III were printed by the Bank of England back in last year, but they were still not released into circulation until cash-accepting machines were reconfigured.
The portrait of the king on money was made based on a photo from 2013.
In April, Charles III was presented with a set of new banknotes with the first serial numbers.
The governor of the Bank of England, Andrew Bailey, says that the bank understands that for many Britons it is still important to be able to pay in cash, and therefore, it will keep banknotes and coins in circulation for as long as society needs.
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The share of purchases for cash in Britain, as well as in many other countries, has been falling rapidly in the last ten years: in 2013 it was more than 50%, in 2022 - 15%. In 2023, due to high inflation, however, it increased to 19%.