The Bank of England has released new designs for the British pound notes featuring King Charles III. 

The UK central bank announced this on Tuesday, stating that plans were underway for the designed notes to enter into circulation by mid-2024. 

The bank added that the king’s portrait would appear on existing designs for all four of its polymer banknotes currently in circulation – £5, £10, £20 and £50.

“I am very proud that the Bank is releasing the design of our new banknotes, which will carry a portrait of King Charles III. This is a significant moment, as the king is only the second monarch to feature on our banknotes. People will be able to use these new notes as they start to enter circulation in 2024,” Andrew Bailey, the Bank’s governor disclosed. 

The king’s image would appear on the front of the bank notes which are made from polymer plastic. 

However, the bank added that the notes featuring Queen Elizabeth II would also continue to remain legal tender, allowing the public to carry on using them as normal.

According to the bank, this is in keeping with royal household guidance to reduce the environmental and financial impact of the transition.

The Queen’s head also features on some $20 banknotes in Canada. 

The Bank of England has produced paper money since the late 1600s. A likeness of the reigning monarch was first featured in a 1960 issue by the bank when the £1 note showing Queen Elizabeth II was introduced for everyday use. 

Coins have, however, featured the monarch for centuries. 

The new notes were introduced just days after the Royal Mint of the United Kingdom attempted to stimulate interest in a commemorative coin featuring an image of the king by making a social media joke that puzzled many people.

The launch of the note would stand as one of the most prominent changes for royal symbols since the death of the Queen in September; alongside new coins and stamps.