The new currency is the first series to feature King Charles III, who is only the second monarch to appear on U.K. banknotes.

Since early Wednesday, crowds have gathered outside the Bank of England’s London headquarters and post offices across the U.K. to lay hands on the inaugural U.K. banknotes featuring King Charles III’s portrait.

These notes, in denominations of £5, £10, £20, and £50, will showcase the king’s likeness, preserving the existing designs.

Coexisting with the notes bearing his late mother Queen Elizabeth II’s portrait, King Charles III’s image will also grace coins and stamps already in circulation.

While cashless transactions rise, the new notes may not immediately catch attention in everyday transactions, but they remain vital for lower-income households and welfare beneficiaries, prompting legislation in 2023 to safeguard cash access.

Following Royal Household guidance, new notes will replace worn ones and meet increased demand, minimizing environmental and financial impacts.

With over 4.6 billion Bank of England notes in circulation valued at £82 billion ($105 billion), Governor Andrew Bailey underscores the institution’s commitment to meet public demand for cash.

Charles received the inaugural banknotes in April, lauding their design and expressing surprise at being only the second monarch featured.

While Bank of England banknotes have been in production since the 17th century, Queen Elizabeth II was the first British monarch honored on a banknote in 1960 with a £1 note.

The new currency will be available at selected Post Office branches across the U.K., a welcomed convenience for customers, noted Karen Stonham, Portsmouth Post Office branch manager.