King Charles in jovial form as he is shown first banknotes featuring his image
The King has been presented with the first banknotes featuring his face as he returns from a short Easter break to view the currency at Buckingham Palace.
King Charles smiled as he inspected the new £5, £10, £20 and £50 notes, which will enter circulation from June 5.
He received Andrew Bailey, the Governor of the Bank of England, and Sarah John, the chief cashier and executive director of banking, at the Palace, and was handed a folder displaying the notes.
The King becomes only the second monarch to have their image on a bank note. His late mother, Queen Elizabeth II, became the first in 1960, with her picture replacing that of Britannia on notes to bring them in line with coins.
A short video of the audience on Tuesday morning shows the King praising the bank notes as “very well designed”, and expressed his surprise at being only the second monarch to appear on one.
Mr Bailey said: “This is quite a big moment because we’ve never changed the sovereign on the bank notes because the Queen was the first sovereign to be on the bank notes.”
The King replied: “This is what is so surprising. You would think that it goes back.”
He inspected the notes and praised the intricate features incorporated to prevent counterfeits, saying: “A lot of trouble taken in on the security side. They’re very well designed, I must say.”
At the request of the Royal household, existing notes featuring Queen Elizabeth will remain in circulation to minimise the environmental and financial impact of the change of monarch.
New notes will only be printed to replace worn banknotes and will co-circulate with those featuring the late Queen, it has been reported.
The money will be issued gradually into circulation from June 5, with the King’s portrait featuring on the front of the banknotes, as well as in cameo in the see-through security window, visible on the front and back.
The reverse side characters remain unchanged from previous editions – with Sir Winston Churchill on the £5, Jane Austen on the £10, JMW Turner on the £20 and Alan Turing on the £50.
The King expressed his admiration of the artistry, saying of the £5: “It’s a very good photograph of Sir Winston.”
And he took a particular liking to the back of the £20 and the £50.
“They’re very elegant these ones, I must say,” he said.
The King, who reduced his diary of engagements after being diagnosed with cancer, apologised to Mr Bailey for the delay in their meeting.
“Good morning Governor. I’m sorry it’s a bit delayed this. I hope it isn’t too delayed,” Charles said.
But Mr Bailey replied: “Not at all. We’re still in advance of launching them.”
It is the first engagement for the King since Easter Sunday when he attended a service at St George’s Chapel, Windsor, and undertook an unexpected walkabout with the public who gathered outside.
Wearing a blue suit and tie, he appeared to be in jovial form on Tuesday.
Aides have spoken of hopes that he will continue to take “gentle steps” back into public life as his treatment for cancer has so far gone well.
The treatment has not caused him serious side effects and he is increasingly being photographed holding audiences as he continues conducting state business behind closed doors.
He is expected to “ramp up” more public engagements towards the summer, a source has said, with hopes that he will be able to attend key elements of the royal calendar including Trooping the Colour. Provisional plans for a trip to Australia next year are still being made.
The new King Charles III bank notes will be eagerly sought by collectors who wish to record the moment in history.
Previous first edition banknotes have commanded formidable sums on the secondary market. The first release of plastic £5 notes, featuring the image of Sir Winston Churchill, were immediately sold on online auction site eBay for up to £200.
