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Topics: Money, King Charles III, Australia
Emily Brown
King Charles is set to appear on money throughout the UK, but the monarch's face will not feature on bank notes in Australia.
The Bank of England unveiled its King Charles banknotes last month following the death of Queen Elizabeth II, whose image will be replaced on all four notes - £5, £10, £20 and £50.
His image will appear on the front of the banknotes, as well as cameo in the see-through security window, but the UK isn't the only country that will have to undergo a change in the wake of the Queen's death.
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The Queen’s image featured on the currency of more than 15 countries, including the UK, Australia, Canada and New Zealand, Bermuda, St. Lucia and Montserrat.
Since 1992, Australia's $5 note has featured an image of Queen Elizabeth drawn from photographs commissioned by the Reserve Bank in 1984.
Over the years, much of Australia's currency adopted images of indigenous figures and artwork rather than the monarch, making the country's $5 bill the only one to still feature the Queen.
Rather than replacing her image with the King, the country is now set to feature an indigenous design on the bill.
King Charles III is still Australia's head of state, however the nation's central bank decided to change the image following consultation with the country's government.
The bank said the new note would honour 'the culture and history of the First Australians', and will be based on a design created following consultations with indigenous groups.
King Charles will still feature on the country's coins, prompting treasurer Jim Chalmers to express belief the change would allow for a good balance.
He said: "The monarch will still be on the coins, but the $5 note will say more about our history and our heritage and our country, and I see that as a good thing."
The bank expects it will be several years before the new note goes public, but when it does the reverse side of the bank note will continue to feature the Australian parliament. Until then, the current $5 featuring Queen Elizabeth will continue to be issued, and will remain legal tender even after the new note enters circulation.
King Charles III's portrait is set to appear on coins in Australia later this year.
In the UK, notes featuring King Charles III are expected to enter circulation by mid-2024, more than a year after his official coronation in May.