New uk currency featuring Charles 12 September 2022 at 1:10PM in Old style MoneySaving 18 replies 964 views

Bricky206

There’s lots of rumours about new bank notes with Charles head on them, is it 2 years to just print the new currency? Also a lot of sites stating that the late queens currency being phased out when worn out, the new polymer £20 and £ 50 have a life span of 20 years plus while the £5 and £10 five years does this mean the £20 could possibly be on circulation into Williams reign

Floss

https://www.royalmint.com/

Brambling

This is how currency has always worked at least with coins as paper notes had a shorter life span than current ones. I can just remember as a child using old pennies, sixpennies etc with the George VI on I think there were probably some with George V in circulation as well

London_1

I remember still seeing coins with Edward 5th's head on in the 1950's-60s pennies especially , so it will be a good long while before the currancy gets changed and it will be done very gradually

JackieO xx

Katiehound

pre decimal there were even some Victorian pennies in circulation! the 'bun' pennies were pretty much worn smooth with hardly any definition- but they were still pennies!

personally I wouldn't be worrying about currency being phased out

Grabs39

My parents tell me that when they were young  in the 1960s they'd try and find the oldest penny.  You couldn't read the year on Victorian ones as they were almost completely worn out, but you could tell they had her face on.

The notes will wear out much quicker of course, but I can't see them being withdrawn - just gradually replaced over a few years.

TheBanker

Even when I was a kid in the 1980s, I remember coins with the face of the previous King on.

Am I right in thinking that pre-decimal shillings were re-used as 5p coins? Was this official or just that they were the same size/colour/weight so you could get away with it?

I found an old 10p the other day - although I used them for years it's quite surprising when you see one now how large/heavy they were. 

Brambling

The pre decimal shilling became 5p and the two-shilling coin became 10p until they were both made smaller

theoretica

As an indication of previous timescales, Edward Viii abdicated after just under a year on the throne and coins with his portrait on had not yet been issued, though a few trial coins had been struck. 

Bricky206

A lot of big media outlets have stated that notes will be phased out as they become worn maybe they have not done their home work in the longevity that these new polymer notes have I mean 20 years minimum for the new £50 and £20 notes so technically they could out last Charles reign as King , also they still haven’t closed the time scale for people to hand in the old £20 and £50 notes I believe it’s this month , so given all  of the facts and the costs of printing these hundreds of millions it’s seems daft , if they were to let these notes bow out due to old age it would be a really nice tribute to the late queen concentrate on the £5 and £ 10 pound notes that have a short shelf live I think it would be a popular choice with the people 

Merlin139

It took 7 years for Queen Elizabeth to first appear on a bank note and that was the £1 note.

What is the hurry?