LONDON, UK — The death of Queen Elizabeth II has left many wondering what will happen to British money that bears her image, and whether it would be replaced by portraits of the new King Charles III.
Financial authorities sought to reassure people that there would be no big changes right away, but said little else.
“Current banknotes featuring the image of Her Majesty The Queen will continue to be legal tender,” the Bank of England said on its website. “A further announcement regarding existing Bank of England banknotes will be made once the period of mourning has been observed.”
The Queen was the first monarch to feature on British bank notes after the Treasury gave the central bank permission to use her image for a new 1 pound note issued in 1960.
The country began a 10-day mourning period Friday, with bells tolling around Britain and 96 gun salutes planned in London – one for each year of the queen’s long life. People around the globe gathered at British embassies to pay homage to the queen, who died Thursday in Balmoral Castle in Scotland.
King Charles III, who spent much of his 73 years preparing for the role, takes the throne in an era of uncertainty for both his country and the monarchy itself.
On his first full day of duties Friday, he is expected to return to London, meet Prime Minister Liz Truss, appointed just days earlier, and deliver a speech to the nation at a time when many Britons are preoccupied with an energy crisis, the soaring cost of living, the war in Ukraine and the fallout from Brexit.