The Bank of England and Royal Mint have confirmed that coins and bank notes featuring the late Queen Elizabeth will co-circulate with new coins and notes featuring the King.
New notes featuring King Charles III will be unveiled later this year, and will replace currency featuring the Queen over time as coins and notes become damaged or worn.
The Royal Mint said that new coins will enter circulation in line with demand from banks and post offices, and will circulate alongside coins featuring the Queen “for many years to come”.
New banknotes featuring Charles are expected to enter circulation by mid-2024 and his portrait will appear on existing designs of all four denominations of banknote (£5, £10, £20 and £50).
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