King Charles III Will Face Left On British Currency For This Reason
England will start a mammoth task of replacing the bank notes, pound coins, and postage stamps bearing the image of Queen Elizabeth II with those of King Charles III.
HIGHLIGHTS
• Banknotes worth $95 billion will be replaced in England
• The process of replacing banknotes, currencies, and postal stamps will start after Queen’s funeral
• King Charles III’s image will feature on the left side of the banknotes
What Is The Legal Status Of Banknotes Bearing Queen’s Image?
The Bank of England in its 9th September statement said that it will continue to accept banknotes and coins bearing the image of the monarch as forms of payment. Queen Elizabeth II was the first monarch to feature on banknotes, pound coins, and postal stamps. A further announcement regarding existing Bank of England banknotes will be made after the mourning period is over reads the Bank of England statement.
Over 4.7 million banknotes worth a total of £82 billion ($95 billion) are in circulation in the UK according to an estimate by the central bank. And the Royal Mint estimates about 29 billion coins in circulation. The new currency with the image of King Charles III will be introduced gradually and it will coexist with the present currency bearing Queen’s image for a while.
How Will The Visage Of King Charles III Be Published On The New Currency?
The Royal Mint of Britain will release Charles-themed coins with the image of King Charles III on the left side of the currency. Since King Charles II ascended to the throne in the 17th century, it has been customary to depict the visage of a new leader facing the opposite direction from his/her … Read the rest