PREVIEW

Banknotes carrying a portrait of King Charles III will be issued for the first time on 5 June 2024. The portrait of the King will appear on existing designs of all four denominations of banknotes (£5, £10, £20 and £50), with no other changes to the existing designs.
Previous polymer banknotes featuring the portrait of Her late Majesty Queen Elizabeth II will remain legal tender, and will co-circulate alongside King Charles III notes. The new banknotes will only be printed to replace those that are worn, and to meet any overall increase in demand for banknotes.
This approach is in line with guidance from the Royal Household to minimise the environmental and financial impact of the change of monarch. This means the public will begin to see the new King Charles III notes very gradually.
Members of the public will also be able to exchange a limited value of current or old series notes for new King Charles III notes, through the Bank of England, for a short time from the 5 June 2024 issuance date.
A series of charity auctions of low-serial numbered notes will be held over the summer at Spink & Son auctioneers. Members of the public will also be able to enter a ballot to purchase a set of notes. The money raised will be donated to charity.