The first King Charles notes go into circulation TODAY – how to get one

THE first banknotes featuring King Charles III’s portrait are being released TODAY, but only a lucky few will be able to get their hands on them.

Her Majesty’s portrait will appear on the existing designs of all four notes without further changes.

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The change from the late Queen Elizabeth II’s currency will be gradual.

New banknotes bearing the King’s portrait will only be issued to replace worn-out coins or to meet any increase in demand.

So, with more than 4.6 billion notes in circulation, worth around £82 billion, it could be a while before one reaches your wallet.

If you want to be among the first to purchase one of the new-look notes, the first to be released will be distributed to a small number of Post Office branches today (June 5).

The chosen agencies, which will have notes of £5, £10 and £20, are:

• Picadilly Plaza, Manchester
• Fawcett Street, Sunderland
• Slindon Street, Portsmouth
• Pinfold Street, Birmingham
• London Wall, City of London
• Broadway, London
• Rd Station, Great Massingham
• Market, Tetbury
• Main Street, Minchinhampton
• Peascod Street, Windsor
• White Kennett Street, London
• Parque Street, Woodstock
• The Butter Market, Poundbury

Thousands of other Post Office branches will receive the new currency in the coming days and weeks.

This is the first time that the monarch that appears on the banknotes has been changed.

Although the Bank of England began producing banknotes in the 17th century, King Charles’ mother was the first British sovereign whose image was featured, initially on a £1 paper note.

Bank of England Governor Andrew Bailey said: “We are delighted to be issuing the new King Charles notes.

“This is a historic moment, as it is the first time we have changed the sovereign on our banknotes.

“We know that cash is important to many people and we are committed to providing banknotes for as long as the public demands them. Putting these new notes into circulation is a demonstration of this commitment.”

In April, Charles received the first notes for his portrait, which he described as “very well drawn”.

Queen Elizabeth II banknotes remain legal tender and there is no need to exchange them.

But if you want to get a King Charles III bank note, the Bank of England has set up temporary facilities to allow people to get a limited amount.

A postal exchange service will run from 5th to 30th June, allowing customers to exchange up to £300 in notes.

An application form and further details are on the Bank of England website.

The Bank of England branch on Threadneedle Street in central London will also issue new notes bearing the King’s image from June 5th to 11th. The same limit of £300 per customer applies.

Karen Stonham, manager of Portsmouth Post Office, which is among the first branches to stock the new notes, said: “Our local customers come to our branch every day to withdraw or deposit money for their everyday needs, so we are excited in being one of the first agencies to have the new notes available.”

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When Queen Elizabeth II came to power, coins bearing the image of her father, George VI, remained in circulation for almost 20 years after his death.

They were finally removed when decimalization was introduced in 1971.

But after one monarch dies and another lines up to take his place, that means a lot of other things need to change.

Coins featuring the new King entered circulation in early December 2023.

The 50p has officially entered circulation and is available at post offices across the UK.

In keeping with tradition, the King’s portrait faces to the left – in the opposite direction to that of the late Queen.

On King Charles III’s new 50 cent coin, the monarch does not wear a crown.

This is because kings are not often depicted wearing a crown on coins, although Her Majesty Queen Elizabeth II did have one.

All UK coins bearing the effigy of Queen Elizabeth II will remain legal tender and in active circulation.

They will be replaced over time as they become damaged or worn out and to meet demand for additional coins – just like banknotes.

Historically, currencies with different monarchs circulate simultaneously, ensuring a smooth transition with minimal environmental impact and cost.

How to identify rare coins and notes that could be worth hundreds

Rare coins and notes hidden in the back of a sofa can sell for hundreds of pounds.

If you are lucky enough to find a rare £10 note, you can sell it for several times its face value.

You can identify rare banknotes by looking at the serial numbers.

These numbers can be found next to the Monarch’s face, just below the £10 value in the corner of the note.

Plus, if you have a rather peculiar serial number on your bill, you could make thousands of dollars.

For example, one seller pocketed £3,600 after spotting a specific serial number relating to Jane Austen’s year of birth on one of his notes.

You can check if your notes are worth anything on eBay, just check “completed and sold items” and filter by the highest value.

This will give you an idea of ​​how much people are willing to pay for some notes.

But keep in mind that yours is only worth what someone else is willing to pay for it.

This is also the case with currencies. You can determine how rare your coin is by looking at the most recent scarcity index.

The next step is to take a look at what has recently sold on eBay.

Change Checker experts recommend looking at “sold listings” to make sure the coin sold for the specified amount rather than just being listed.

People can list things for whatever price they want, but that doesn’t mean they will sell for that amount.

We explain further how you can find out if you have a rare coin worth thousands of dollars lying around the house.

Do you have a money problem that needs solving? Get in touch by emailing money-sm@news.co.uk.

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