The Bank of England has reassured consumers that current bank notes featuring a portrait of Queen Elizabeth II will continue to be legal tender. However, a further announcement regarding notes, most-likely featuring King Charles III, will be made once the period of mourning has been observed following the Queen's death.
The Queen was the first monarch to feature on Bank of England banknotes. The Royal Mint worked with Her Late Majesty throughout her reign - detailing her journey from new Queen to respected head of state across five coin portraits, and ensuring each new UK coin received her personal seal of approval.
The Royal Mint said current and special coins featuring the Queen’s portrait will also remain legal tender across the UK, but it could not give information at this time, when asked about the possible production of new coins.
Bank governor Andrew Bailey said: "It was with profound sadness that I learned of the death of Her Majesty The Queen.
"On behalf of everyone at the Bank I would like to pass on my deepest condolences to the Royal Family.
"For most of us, she is the only head of state we have ever known, and will be remembered as an inspirational figure for our country and the Commonwealth."
The Bank of England building at Threadneedle Street will fly a flag at half-mast as a mark of respect.
Stamps bearing the image of the Queen will also remain valid following her death, Royal Mail has announced.
Special stamps already announced will still be issued, although there may be changes to when they are launched.
A Royal Mail statement said: “Following the passing of HM Queen Elizabeth II, Royal Mail has confirmed that stamps bearing the image of Her Majesty Queen Elizabeth II remain valid for use.
“These include definitive stamps – regular ‘everyday’ stamps – and special stamps.
“As previously announced, following the introduction of barcodes to everyday stamps, these stamps remain valid until the end of January 2023.
“All special stamps that have already been announced will be issued, although the launch dates of some may change.
“In line with past practice, following the death of a monarch all existing post boxes will remain unchanged.
“Post boxes already in production or being prepared for installation will also retain the insignia of Queen Elizabeth II.”
The company said a gallery of stamps featuring the Queen is available on its website.
The statement added: “No further announcements on stamps will be made before the funeral, and then only at the appropriate time, after consultation with Buckingham Palace.”
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