Posts Tagged ‘Coin collection’

The first banknotes featuring King Charles III entered circulation on 5th June 2024, here’s everything you need to know.

Hot off the press

In November 2023, The Bank of England started printing new banknotes featuring King Charles III at a rate of 6 million in 24 hours. The delay in them entering circulation was apparently caused by machines such as self service tills not being able to recognise the new image and needing to be recalibrated.

The Bank of England’s chief cashier, Sarah John, said “There is a lot to do to ensure that machines used up and down the country can accept the banknotes. They all need to be adapted to recognise the new design, with software updates, and that takes months and months. Otherwise, we will be putting a banknote out there that people simply would not be able to use.”

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A sustainable transition

Taking guidance from the Royal Household, the new banknotes will only be issued to replace worn or damaged Queen Elizabeth II notes, meaning both monarchs’ portraits will co-circulate for the foreseeable future.

There are approximately 4.7 billion Queen Elizabeth II banknotes currently in circulation, worth an estimated £82 billion, so don’t worry – they’ll still be accepted in shops as well as the new King Charles III notes.

This transition phase will minimise the environmental and financial impact of the change, in keeping with the King’s vision for a more sustainable future.

King Charles III’s portrait will now appear on the front of the notes, an image based on an engraving of a picture of His Majesty taken in 2013, however there will be no changes to the current reverse designs:

• Winston Churchill (£5)
• Jane Austen (£10)
• JMW Turner (£20)
• Alan Turing (£50)

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Security Features

All denominations of the new banknotes share some of the same security features which you can use to verify the authenticity of the note.

Monarch’s portrait in a see-through window
A portrait of King Charles III is printed on the window with the denomination and ‘Bank of England’ printed twice around the edge.

Hologram Image Change
When tilting the note from side to side, the word within the hologram should change between the value of the note, ‘Five’, ‘Ten’, ‘Twenty’ or ‘Fifty’ and ‘Pounds’.

Silver foil patch
A silver foil patch contains a 3D image of the coronation crown.

Print Quality
The printed lines and colours on the note are sharp and clear, with no smudges or blurred edges. If you use a magnifying glass, you should be able to see the value of the note written in small letters and numbers below the monarch’s portrait.

Feel of polymer and raised print
The note is printed on polymer, a thin and flexible plastic. On the front of the note, you can feel the raised print on the words ‘Bank of England’ and in the bottom right corner.

Ultraviolet number
Under a UV light, the denomination number appears in bright green and red on the front of the note.

£5 features

Here are some security features specific to the £5 notes.

Colour changing border
When the note is tilted, a coloured border around the edge of the see-through window and the ‘£’ symbol inside the window will change from purple to green.

Green foil patch
On the other side of the silver foil patch showing the coronation crown, the £5 has a green foil patch featuring the word ‘BLENHEIM’.

£10 features

Here are some security features specific to the £10 notes.

Colour changing quill
When the £10 note is tilted, a coloured quill at the side of the see-through window will change from purple to orange.

Copper foil patch
On the other side of the silver foil patch showing the coronation crown, the £10 has a copper foil patch containing the letters ‘JA’ within an open book, representing Jane Austen.

£20 features

Here are some security features specific to the £20 notes.

A second see-through window
In the bottom right corner of the front of the £20 note, there is a second, smaller see-through window containing the number 20.

Purple foil patch
On the other side of the silver foil patch showing the coronation crown, the £20 has a purple foil patch containing the letter ‘T’ for JMW Turner.

£50 features

Here are some security features specific to the £50 notes.

A second see-through window
In the bottom right corner of the front of the £50 note, there is a second, smaller see-through window containing the number 50.

Hologram change
The £50 note has two gold foil squares on the front, and the images within should change between ‘50’ and the ‘£’ symbol when the note is tilted.

Red foil patch
On the other side of the silver foil patch showing the coronation crown, the £50 has a red foil patch containing the letters ‘AT’, paying tribute to Alan Turing who features on the note.

Rare serial numbers

Whenever new banknotes are issued, it causes quite a stir in the collecting community, with serious collectors rushing to secure the notes with the lowest serial numbers.

The Bank of England generally hold back some of the notes with the earliest serial numbers, donating them to people or institutions that were involved in the development of the note, but others can fetch hefty sums at auction!

For example, serial numbers such as AK47 due to the machine gun connotations, and 007 which could be desirable to James Bond fans are considered collectable, as well as serial numbers representing key dates relating to the figure on the reverse of the note.

On 11th July 2024, a King Charles III £20 note with the serial number EH 01 000002 sold for £7,000 at auction – that’s 350 times its face value!

Find out more about which serial numbers to look out for here >>

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A closer look

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Where can I find a King Charles III banknote?

Eventually, we’ll start to see King Charles III banknotes crop up in our cash, but as their introduction will be a gradual process, some collectors may not want to wait to get their hands on one.

Check out our list of the first locations to stock the new banknotes >>

Have you found one in circulation already? Let us know where in the comments!

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Safely store your new banknotes

With the release of these new banknotes, now’s the perfect time to start your banknote collection, by owning the Change Checker Polymer Banknote Collecting Pack – with space to securely house all four of England’s polymer banknotes!

Secure yours for just £9.99 (+p&p) >>