👑 From Queen to King: How Banknotes Around the World Are Changing

The passing of Queen Elizabeth II in 2022 marked the end of an era—not just for the monarchy, but for the everyday currency used by millions. For over 70 years, her portrait graced coins and banknotes across the Commonwealth and beyond. Now, as King Charles III ascends the throne, countries are gradually introducing new currency bearing his likeness. But how exactly is this transition unfolding around the world?

💷 United Kingdom: A Subtle Yet Historic Shift

On June 5, 2024, the Bank of England began issuing new polymer banknotes featuring King Charles III. These include the £5, £10, £20, and £50 notes. Interestingly:

The designs remain unchanged except for the monarch’s portrait.

Notes with Queen Elizabeth II will co-circulate with the new ones and remain legal tender indefinitely.

New notes are only printed to replace worn ones or meet increased demand, aligning with sustainability goals.

This marks the first time in British history that a monarch has been replaced on banknotes, as Queen Elizabeth was the first sovereign to appear on them in 1960.

🌏 Commonwealth Nations: A Mixed Approach

Many Commonwealth countries have featured Queen Elizabeth II on their currency. Each is now deciding how—and whether—to update their designs.

🇨🇦 Canada

Queen Elizabeth II appears on the $20 polymer note.

The Bank of Canada has confirmed that King Charles will eventually replace her, but no timeline has been announced.

Canada may use this opportunity to rethink its banknote themes, possibly incorporating Indigenous figures or national icons.

🇦🇺 Australia

The $5 note, which features Queen Elizabeth II, will not be updated with King Charles.

Instead, the Reserve Bank of Australia plans to redesign the note to honor Indigenous culture, while coins will feature the King.

🇳🇿 New Zealand

The Reserve Bank has stated that existing stocks of Queen Elizabeth notes will be used up first.

King Charles will appear on future notes, but no immediate rollout is planned.

🪙 Coins: A Faster Transition

While banknotes take time to redesign and distribute, coins have already begun to reflect the new monarch:

In the UK, 50p coins with King Charles entered circulation in late 2022.

His portrait faces left, the opposite direction to Queen Elizabeth’s, following royal tradition.

🧾 What Should You Do With Old Notes?

If you’re holding onto Queen Elizabeth II banknotes:

No need to panic—they remain legal tender.

In the UK, you can exchange them at banks or the Bank of England if needed.

Collectors may want to hold onto early King Charles notes, especially those with low serial numbers—they could become valuable!

🧭 A Symbolic Transition

This currency change is more than a logistical update—it’s a symbolic moment in history. It reflects continuity, tradition, and the evolving identity of nations once bound by empire. Whether you’re a collector, a traveler, or simply curious, the new notes are a tangible reminder of a new chapter in the monarchy.