NEWYou can now listen to Fox News articles!
King Charles III is expected to replace the image of Queen Elizabeth II on British currency after his death on Thursday.
The Bank of England is likely to withdraw and replace pound notes and coins with the Queen’s profile in the coming months.
The process of phasing out old coins and banknotes and replacing the image of the queen with a portrait of charles it is expected to take about two years.
While no official plans have yet been announced, the Bank of England has assured Britons that the coin bearing the queen’s image will remain legal tender.
CHARLES BECOMES KING OF ENGLAND AFTER THE DEATH OF QUEEN ELIZABETH II
Queen Elizabeth II and Prince Charles in full court attire.
(Paul Edwards – WPA Group/Getty Images)
“Current banknotes bearing the likeness of Her Majesty The Queen will remain legal tender,” the Bank of England said in a statement after her death on Thursday.
“A further announcement will be made on existing Bank of England notes once the mourning period has been observed,” the bank added.
There are an estimated 4.5 billion banknotes in circulation with the image of the queen on them.
FORMER QUEEN BODYGUARD TELLS HER REACTION WHEN A TOURIST DIDN’T RECOGNIZE HER
Image of Queen Elizabeth on Bank of England notes and coins.
(Peter Byrne/PA Images via Getty Images)
In Australia, coins bearing Charles’ image are expected to face left, according to the Canberra Times. Current coins that present the profile of the queen facing to the right. The tradition of reversing the directions of profiles is believed to have started with Charles II in 1660.
The only exception to the tradition is Edward VIII, who reportedly insisted that his profile should face to the left. Edward later abdicated the British throne to marry American divorcee Wallis Simpson.
Edward’s abdication paved the way for Elizabeth’s father, George VI, to ascend and eventually hand over the title to her upon his death.
British currency in the form of two one pound coins rests on a Bank of England ten pound note bearing an image of Queen Elizabeth II.
(Daniel Harvey Gonzalez/In Pictures via Getty Images)
Canadian coins will be updated with the image of Charles depending on the actions of Prime Minister Justin Trudeau government. Elizabeth’s portrait appears on the reverse side of Canadian coins and on the Canadian $20 bill.
While his government has not announced next steps, Trudeau mourned Elizabeth’s passing on Thursday.
“He was one of my favorite people in the world,” the Canadian prime minister said while wearing a dark suit at a news conference. “I will miss her very much.”
