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King Charles III banknotes may be rare as they enter circulation

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It means that Queen Elizabeth II notes will co-circulate with the new notes and will remain the bulk of those being used in everyday cash transactions for some time.

UK banknotes featuring the portrait of King Charles III will enter circulation Wednesday, though they’re likely to be rare for some time in everyday cash transactions.

The current batch of polymer banknotes started to enter circulation in 2016 and are made to give them a long lifespan. The BOE expects the £5 and £10 polymer notes to last at least five years, while the average lifespan of £20 notes could be in excess of 20 years due to how the public uses them. They will also be available from a select group of Post Office branches before being rolled out to others in the coming weeks.The reverse side of the polymer banknotes — featuring former Prime Minister Winston Churchill, author Jane Austen, painter JMW Turner and World War II codebreaker Alan Turing — will be unchanged.

 

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