King Charles will be facing the opposite way to his mother the Queen when his face replaces hers on money. In the UK, there is currently £80 billion of money in circulation featuring Queen Elizabeth II's face.
King Charles' portrait will face the opposite direction on our new banknotes and coins. Following the death of Queen Elizabeth, a changeover in stamps, banknotes and coins is widely anticipated. Charles' image will face left due to a 17th-century tradition that the direction must alternate for each new monarch.
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In a tribute yesterday, Prime Minister Liz Truss reflected on the Queen's passing and referenced how her image was emblazoned in so many aspects and corners of British daily life. The PM said Queen Elizabeth II "reinvented monarchy for the modern age".
"Her late Majesty's image is an icon for what Britain stands for as a nation, on our coins, on our stamps, and in portraits around the world. Her legacy will endure through the countless people she met, the global history she witnessed, and the lives that she touched."
Commenting on the Queen's death, the Governor of the Bank of England paid tribute to her, saying: “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.”
In a statement the Bank of England said an announcement on new bank notes would be made after a period of mourning. The statement read: "As the first monarch to feature on Bank of England banknotes, the Queen’s iconic portraits are synonymous with some of the most important work we do. Current banknotes featuring the image of Her Majesty the Queen will continue to be legal tender. A further announcement regarding existing Bank of England banknotes will be made once the period of mourning has been observed."
Although the Bank of England has not yet confirmed the date that the money will change, there is likely to be a significant transition phase between notes and coins featuring Queen Elizabeth II and those with King Charles III's image. Plans have been in place for this for a long time and the new cash will be produced and distributed into general circulation, with the old money gradually being phased out. However, it's not just in the UK, where the Queen's face is used on the currency. It is also used in countries, such as Canada, Australia and New Zealand - and they too will eventually phase out cash with her image on.
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