Government Yet to Decide on King's Portrait for Banknotes

Jersey Yet to Decide on Featuring King Charles III on Future Banknotes

The Government of Jersey has yet to determine whether King Charles III will appear on future editions of the island’s banknotes, citing the current abundance of currency still bearing the image of Queen Elizabeth II.

While the Bank of England introduced new notes featuring the King in June 2024, Jersey’s Treasury Minister, Deputy Elaine Millar, confirmed that although the idea of updating the island's banknotes has been considered, no final decision has been reached.

Millar explained that the government is currently holding a “significant stock” of banknotes depicting the late Queen, making an immediate change neither necessary nor cost-effective. “This approach ensures unnecessary costs are avoided and that value for money is maintained on behalf of the public,” she said.

The issue was raised in a written question submitted by Deputy Helen Miles, who asked for a projected timeline for introducing notes and coins featuring the new monarch.

In her response, Millar emphasized the challenges faced by smaller jurisdictions such as Jersey when it comes to currency production. “Large minimum print runs are required to achieve value for money,” she said, adding that this has contributed to the existing surplus of banknotes.

Jersey has updated its banknotes only twice in the past 36 years—first in 1989 and again in 2010. Given this slow pace and the high cost of production, Millar indicated that it may be some time before a new series is commissioned.

In contrast, neighbouring Guernsey has already announced it will not feature King Charles III on its updated currency, opting instead for other designs.

Millar concluded that while discussions around a new family of banknotes have taken place, no firm decision has been made regarding either their introduction or design. “Current stock levels mean it will be some time before any changes are necessary or practical,” she said.