Jimu News Reporter Song Qingying
According to Reuters , on September 27 local time, Buckingham Palace announced that the UK will gradually begin to implement coins, banknotes and stamps with the image of Charles III . However, Queen of England has been in power for 70 years, and her image is everywhere. It will take many years to replace it with Charles III.
Current pound banknotes (Picture source: Guardian)
Royal Mint CEO Anne Jessop said: "The first batch of coins with the portrait of King Charles III will enter the circulation field according to the needs of banks and post offices."
Bank of England also stated that banknotes with the portrait of Charles are expected to begin circulation in mid-2024, and the updated banknote style will be announced by the end of the year.
Queen portrait coin (Image source: Guardian)
Meanwhile, Royal Mail said that the portrait of the queen used on the stamp will be replaced with the image of Charles. Once the current old stamps are used up, these new stamps will begin circulation.
However, the manufacturer of currency and stamps said the process of changing the image will be very slow. Because the Queen's reign broke records, she ascended the throne for 70 years, from currency to stamps, and even in condiments, her image was everywhere.
There are more than 4.7 billion Bank of England notes in the market, worth about 82 billion pounds. It is estimated that it will take two to four years to phase out the currency printed with the Queen. The Royal Mint estimates that about 27 billion coins engraved with portraits of the late queen are circulated on the market. If historical precedents are followed, changes in coin design may be slower.
All existing currencies and stamps with the image of the queen are still valid. "This means that the coins of Charles III and Elizabeth II will be circulated together for many years to come," said Jessop.
According to the " New York Times ", former British Secretary of State Norman Baker commented: "The cost of a monarchy is very high, including costs that should be restricted but not currently limited."
Charles III's new logo (Photo source: Reuters)
Buckingham Palace also announced the new monarchy logo of Charles III, consisting of the initial letters "C", "R" and the fallen numeral "III" - representing Charles' name and Latin "king", which was selected by Charles III from a series of designs made by the Weapons Academy. This logo will replace Elizabeth II's "E", "R", "II".
new logo can be used on national documents, government departments and royal postmarks and will appear on mailboxes. But the royal family said: "The decision to replace the logo will be decided by each organization, and the process will be gradual."
(Source: Jimu News)
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