Will UK print new bank notes with King Charles III's portrait?

Discussion in 'Business & Economics' started by Saint, Sep 12, 2022.

  1. Saint Valued Senior Member

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    Will UK print new bank notes with King Charles III's portrait?
     
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  3. exchemist Valued Senior Member

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    Eventually.
     
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  5. Yazata Valued Senior Member

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    I suppose that whoever issues the banknotes (Bank of England/Scotland) already has a schedule for replacing old worn currency and printing new ones. The new ones will now presumably have King Charles' portrait on them, but the older QE II ones will remain in circulation and remain legal tender. It's not like everyone's money suddenly becomes worthless or that they have to trade it all in for new money. Coins have a way of surviving for a long time, much longer than paper currency, so the QE II coins will be in circulation for decades yet. People will just find fewer and fewer of them in their pocket as time goes on.
     
    Last edited: Sep 17, 2022
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  7. Sarkus Hippomonstrosesquippedalo phobe Valued Senior Member

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    We're actually going through a transition with the old £20 and £50 notes, where the old paper ones cease being legal tender as of 30 September. The new ones (the more plasticy type, which vegans complained about due to containing tallow) have replaced them.
    So it's quite possible the UK will announce a recall of those with the Queen's portrait in due course, and get us to switch over to notes with KCIII instead. Coins, as you say, will be different, and I think they'll just be allowed to change gradually with the general replacement over time.
     

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