The bank of England has announced that the image of Queen Elizabeth on the currency in UK, Canada, Australia and New Zealand will be replaced with the image of her son Prince Charles.
Prince Charles became the new King of England immediately after the demise of his mother because according to reports, Prince Charles has been heir to the throne since he was a child.
“As the first monarch to feature on Bank of England banknotes, the Queen’s iconic portraits are synonymous with some of the most important work we do,” the statement read. “Current banknotes featuring the image of Her Majesty The Queen will continue to be legal tender.”
The statement continued, “A further announcement regarding existing Bank of England banknotes will be made once the period of mourning has been observed.”
According to reports, the phasing out of the image of Queen Elizabeth I will take a gradual process with King Charles III’s image printed on currencies following his ascension to the throne.
“In the UK, all cash notes and coins depict the face of the Queen- but following her death, new coins and cash will be created with the face of the King. Plans have been in place for this for a long time and the new cash will be produced and distributed into general circulation with the old money gradually being phased out”.