The death of Queen Elizabeth II of the United Kingdom continues to give something to talk about, even though it has been a week since her death. The coronation of her son Carlos III as the new monarch of the British country will bring about changes.
One of the most important it will be the design of the coins and banknotes of the currency that is handled in the British islandas well as that of other countries belonging to the Commonwealth of Nations (commonwealth).
Traditionally, when there is a change of reign, modifications are made to national symbols, such as the anthem of the United Kingdom, and to documents such as the passport.
(You may be interested: Who will keep Queen Elizabeth II’s corgi dogs? The question is resolved).
In the case of money, this will have a modification in its design, then, gradually, the new banknotes and coins with the face of King Carlos III will begin to circulate. It will be the first time in 70 years that this drastic change will be made.
During Elizabeth II’s time on the throne, a total of five different portraits of the monarch have been present on notes and coins of all denominations of the pound sterling. She has also appeared on other currencies such as the Canadian dollar and the Australian dollar.
gradual transition
There are around 4.5 million banknotes in circulation, according to the United Kingdom Central Bank, which would add up to a combined amount of 80 billion pounds sterling (404.5 billion pesos).
(Also: Death of Elizabeth II: they reveal what her funeral will be like next Monday).
Likewise, according to information from the Royal Mint, there are around 29 billion coins also circulating in Great Britain, as well as in other countries of the commonwealth.
Therefore, according to information from the newspaper ‘The Guardian’, the process of replacement of the face of Isabel II by that of Carlos III in all denominations of the pound sterling it would take around two years.
So the bills and coins with the face of the recently deceased queen will continue to circulate for several more years, in addition to coexisting with the new ones.
(Also read: The collection of Isabel II cars that King Carlos III will inherit).
The British monetary authorities have not given dates to start replacing the banknotes and coins in circulation, reason why the denominations with the face of Isabel II will continue in legal course.
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