THE Royal Mint has confirmed coins and bank notes featuring King Charles III's portrait will enter circulation in the UK.
Those bearing the portrait of Queen Elizabeth II will remain legal tender however.
That means they will co-circulate with those featuring His Majesty King Charles III.
The Royal Mint said this was to ensure a smooth transition between the two styles of coin and note, with less environmental impact and cost.
Coins and notes bearing the effigy of the King will enter circulation in line with demand from banks and post offices, and will circulate alongside coins featuring the Queen “for many years to come”.
Notes featuring the new monarch are expected to enter circulation by mid-2024.
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His portrait will appear on existing designs of all four denomination of banknote – £5, £10, £20 and £50.
The new notes will be made of polymer, as paper £20 and £50 notes are due to be withdrawn on September 30, following the old £5 and £10 which were retired in 2017 and 2018 respectively.
The rest of the bank note designs are expected to stay the same, including the famous faces like Alan Turing which appear on the other side of the monarch.
Notes featuring the Queen's portrait already made will still be put into circulation.
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New notes will only be printed to replace worn banknotes and to meet any overall increase in demand for banknotes.
Anne Jessopp, chief executive officer at The Royal Mint said: “We are honoured to have struck each UK coin of Her Late Majesty’s reign, documenting her journey from young Queen to respected Head of State.
"As official coin maker to the UK, we have told the story of each monarch since Alfred the Great and are now preparing for the biggest change in British coinage for several decades."
The Royal Mint has not confirmed the exact date the new coins and notes will enter circulation or what they the new King's portrait will look like.
More details of the coins and notes are expected to be revealed by the mint in the coming weeks.
It is expected the new design for King Charles III on the UK's currency will see him facing the opposite direction to the Queen.
On all current coins the Queen's portrait faces right, but Charles will look to the left because of a tradition that means new monarchs face in different directions to one another.
It comes following the Queen's death on September 8 which shook the world.
Tributes flooded in from world leaders following her passing, and thousands lined the streets of London on the day of her funeral, which was made a Bank Holiday.
What else will change after the Queen's death?
When Queen Elizabeth II came to power, coins with her father's image, George VI remained in circulation for almost 20 years after his death.
They were eventually removed when decimalisation was introduced in 1971.
But after one monarch has died and another lined up to take their place, it means a whole host of other things need to change.
That includes Ketchup bottles, which show the Queen's coat of arms.
Following Queen Elizabeth II's death, royal flags could change if Charles adds a Welsh element, and passports will show His Majesty's profile.
Stamps will also take on a drastically different appearance, showing the King instead of Queen.
The Queen's royal cypher – or monogram – on government buildings, military uniforms and police helmets will change.
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And Royal Mail post boxes will feature a new mark, which will most likely be CRIII.
Royal Mail has said post boxes already in production or due to be installed will retain the Queen's insignia.
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