Queen II with UOL Sterling Exchange. Will Elizabethan notes lose value? 09/10/2022 4:00 am

Queen Elizabeth’s face is engraved on the £4.5 billion notes (£), the United Kingdom today follows the tradition and the amount of all banknotes in circulation is determined by the new king III.

Due to the sudden financial impact, the bureaucratic problems of the monarchy itself, and the money spent on newly issued banknotes, the money engraved on the monarch’s image should be worth at least until 2024.

“As the first monarch to appear on Bank of England notes, iconic portraits of the Queen are synonymous with some of the most important work we do. Existing banknotes depicting Her Majesty the Queen will continue to be legal tender. A new announcement on the current Bank of England has been made from the Bank of England. “British notes will be issued after the mourning period is complete,” the statement said.

How much would it cost to replace the queen’s bills with the new king’s? It costs around £0.13 to print each banknote in the UK. For versions with King Charles III, the average value to replace all circulating banknotes with the face of Elizabeth II would be £58.5 billion or R$3.5 billion at current price.

Queen II with sterling exchange. Will Elizabethan notes lose value? Not. The process of collecting and reprinting new notes can take at least two years.

As the country is already in the process of exchanging paper money for more durable plastic notes – all new and with the face of the monarch – there’s also the possibility that the British Crown will decide to keep the Central Bank and Queen’s notes for logistical reasons.

Queen II is already on the new banknotes. There is a portrait of Elizabeth. The £5 note was the first currency to be introduced and circulated in September 2016. Winston Churchill, the country’s prime minister during WWII, is in the back.

Author Jane Austen is pictured on the back of the £10 polymer notes. For £20 it features a portrait of artist JMW Turner. The new £50 note features Alan Turing, one of the founders of computer science and artificial intelligence, a decoder during World War II.

On the reverse of the circulated banknotes are pictures of economist Adam Smith and industrial inventors Matthew Boulton and James Watt. These lose their value at the end of this month.

Are there coins with the face of Elizabeth in more countries? Ditto. According to Guinness World Records, the Queen’s image is in the currencies of at least 33 countries, including Canada, Jamaica and New Zealand. Depending on local legislation, they are likely to change their notes and coins as well.

Scales produced in countries such as Northern Ireland and Scotland feature illustrations of regional figures. For example, Scottish banknotes feature the face of Sir Walter Scott, a prominent Scottish writer.

What will the coins with the face of Charles III look like?

All UK coins must have an image of the current king on one side and, as tradition dictates, Charles III will appear engraved with his face to the left.

Since the 17th century, monarchs have been represented on coins (the process through which coins are engraved) facing the opposite direction from those of their immediate predecessors. The exception was the reign of Edward VIII, who favored the left side. Tradition is restored with Jorge 6º, his face is turned to the left, the image of Eduardo on the reverse is inverted to the right.

II. Five portraits of Elizabeth have appeared on metal pieces since her reign.. The newest one was released in 2015. The first Elizabethan coins were minted in 1953 to represent a new beginning in the UK after the Second World War.

There are currently around 29 billion coins in circulation in the UK – all engraved with his face.

According to Casa da Moeda Real, production costs can vary with each value and the material used to make the coins. According to the complexity of the coin, the values ​​of the production process also change. in a note UOLThe business did not disclose how much it spent to produce the coin: “This information can be used to the advantage of competitors”, reasoning.