The death of Queen Elizabeth II has raised concerns about the future of banknotes and coins bearing her image. However, the country’s central bank governor Andrew Bailey said there is nothing to worry about for now.
The Daily Mirror reports that Prince Charles has become the new king after the Queen’s death. Now the bank will print notes and coins with the image of Prince Charles. New notes and coins to hit UK market
And the notes, which have the image of the Queen, will not be withdrawn from the market. Once those notes become old, they will be cancelled.
And before 1953, it was not customary to print the image of the Queen on the coins. But after the accession of Queen Elizabeth II in 1953, the Queen’s portrait began to be printed on coins.
Due to the Queen’s death, no new coins with the image of the Queen will be released into the market. And the currencies that are in the market like notes will remain valid until they are destroyed.