King Charles banknotes go on show

New banknotes with the head of Charles III are to go on public display for the first time next month, before they go into circulation.

The new polymer £5, £10. £20 and £50 notes are to feature in a new exhibition, The Future of Money, at the Bank of England Museum, opening in Feb 28.

The exhibition will trace the development of money, from a Roman gold bar to a tally stick of 1824 to contactless payment devices.

In spite of the development of new payment systems, cash is still important. In 2022, 1.1m people in the UK did not hold a bank account and depended fully on cash, and many businesses are likely to remain cash-only well into the future.

“The way we handle money has completely transformed in the last century, from gold and silver coins to the tap of a smartphone” said Jennifer Adam, the museum’s curator. “Our new exhibition will show how money is continuing to change, and what this means for people of all ages. We begin to find out about money using real cash as children - from pretend shops to being the banker when playing Monopoly - but how do we learn to manage money when it’s in a digital form.” 

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