Royal Mint and Bank of England issue update on changes to money following Queen's death
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 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 . This will be a continuation of the current polymer series and no additional changes to the banknote designs will be made, the Bank of England said.
There are around 27 billion coins currently circulating in the UK bearing the effigy of the Queen. These will be replaced over time as they become damaged or worn, and to meet demand for additional coins.
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