The Bank of England has revealed when images of King Charles' face will appear on banknotes and coins.
Following the Queen's death, there is bound to be a period of uncertainty, particularly as many of us have only ever known Elizabeth II as the country's monarch.
King Charles III ascended to the throne immediately on the death of Elizabeth II.
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And, as you might expect, the new king's portrait will eventually appear on existing designs of all four banknotes (£5, £10, £20 and £50).
Though the updated bank notes with King Charles' image will be revealed by the end of the year, the currency won't actually be in circulation until mid-2024.
It's expected that coins and banknotes featuring King Charles III and Queen Elizabeth II will co-circulate, in attempts to minimise the environmental and financial impact of the change.
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The current polymer series will remain present with no additional changes to the actual design, the Bank of England said.
Anne Jessopp, chief executive officer at the Royal Mint, said: “The first coins bearing the effigy of His Majesty King Charles III will enter circulation in line with demand from banks and post offices.
"This means the coinage of King Charles III and Queen Elizabeth II will co-circulate in the UK for many years to come.”
The Royal Mail also confirmed the King’s image will replace the Queen's on new 1st and 2nd Class stamps, but they also looked to consider the environment when deciding on the timeline for the update.
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The Royal Mail said: “In line with guidance from the Royal Household, to minimise the environmental and financial impact of the change of monarch, existing stocks of definitive stamps that feature the late Queen and the special stamps which use her silhouette, will be distributed and issued as planned.
"The launch dates of some of the special stamps may change.
“New stamps featuring King Charles will enter circulation once current stocks of stamps are exhausted.”
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Currently, there are approximately 27 billion coins in circulation in the UK. These will be replaced over time as they become damaged or worn, and to meet demand for additional coins.
Historically it has been common for coins featuring different monarchs to co-circulate.
This ensures a smooth transition, with minimal environmental impact and cost.
After the sudden death of his late mother, Charles said in a written statement: “The death of my beloved Mother, Her Majesty The Queen, is a moment of the greatest sadness for me and all members of my family.
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“We mourn profoundly the passing of a cherished Sovereign and a much-loved Mother.
“I know her loss will be deeply felt throughout the country, the Realms and the Commonwealth, and by countless people around the world.
“During this period of mourning and change, my family and I will be comforted and sustained by our knowledge of the respect and deep affection in which The Queen was so widely held.”
Topics: King Charles III, Royal Family, Money
Anish Vij