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Bank of England says currency with Queen's portrait to remain legal tender

Britain Jane Austen Bank Note
Posted at 6:38 PM, Sep 08, 2022
and last updated 2022-09-08 20:41:06-04

The Bank of England reassured the public on Thursday that banknotes with images of Queen Elizabeth II would remain legal tender after her death.

Condolences were sent from the UK's central bank, saying, "The Bank of England’s staff wish to express their heartfelt condolences to the Royal Family, following news of the death of Her Majesty Queen Elizabeth II."

Andrew Bailey, governor of the central bank, wrote, “It was with profound sadness that I learned of the death of Her Majesty The Queen. On behalf of everyone at the Bank, I would like to pass on my deepest condolences to the Royal Family. For most of us, she is the only head of state we have ever known and will be remembered as an inspirational figure for our country and the Commonwealth.”

The Queen ascended to the throne in 1952 but didn't appear on banknotes for about the first eight years of her time as Queen. It was in 1960 when her portrait first appeared on the £1 banknote.

Her image would later appear on other banknotes, according to the Bank of England Museum.

The UK's central bank was formed in 1694 and became the English government's bank, and it still acts as one of the bankers for the UK government. The model for the Bank of England is still a model on which most central banks around the world are based.