Queen Elizabeth’s image has been depicted on a large number of coins, currency notes, and even stamps. Her image is featured in banknotes all over the world. Now after her death, question remains on what will happen to the fate of these banknotes, stamps and coins that depicts the longest reigning British monarch. United Kingdom, Canada, Australia, New Zealand and other countries would think about swapping the monarchs.
Well, the currency featuring the Queen would not go out of circulation. As said by the Bank of England on September 9, banknotes and coins with the image of the late monarch will continue to be accepted forms of payment. She was the first monarch to feature on Bank of England banknotes.
The statement further added, “Current banknotes featuring the image of Her Majesty the Queen will continue to be legal tender. A further announcement regarding existing Bank of England banknotes will be made once the period of mourning has been observed”.
According to the Bank of England an official declaration vis-à-vis the country’s currency will be made seven days post the Queen’s funeral, that is after the official time of nation’s mourning is over. The Queen’s funeral will be held on Monday 19 September.
England’s rule encompassed 54 nations, together called the Commonwealth also have the Queen’s face on their banknotes and coins. According to the bank, there are 4.7 million banknotes worth $95 billion and according to the Royal Mint 29 billion coins in cash in circulation in the UK.
The new currency will feature King Charles III and will coexist with the previous one. British currency system has followed a particular custom since the 17th Century that the coins will feature the new monarch along with the previous one. According to the custom, Elizabeth would have her image on the right while Charles III will be featured on the left side of the coin.
