Personal Finance

UK banknotes will be replaced with wildlife instead of historical figures

UK banknotes will be replaced with wildlife instead of historical figures
The public votes for wildlife to appear on banknotes instead of Shakespeare, Churchill, and Austen

Which animals are you hoping to see on them?

In a daring new move, the Bank of England (BoE) will replace historical figures on the back of UK banknotes with wildlife. When the change takes place, there won't be any historical figures on banknotes for the first time in fifty years. The action comes after the public was asked to vote in a consultation last year regarding what they wanted to see on UK banknotes. Additionally, the public has expressed that they would much rather have wildlife than Turner, Shakespeare, Churchill. In the past, BFIA has advocated for the inclusion of more female historical figures on UK banknotes after discovering that, since 1970, there have only been three women for every sixteen men. Over 44,000 people responded to the Bank of England's consultation last year, with 60% (roughly 26,000) choosing wildlife as one of their top themes and 38% (roughly 16,700) choosing notable historical figures. Sports, art, culture, architecture, and landmarks were additional choices.

What species of wildlife will appear on UK banknotes?

The UK wildlife that will be featured is unknown, but when part two of the consultation begins this summer, the BoE wants you to vote for your favorite.

The new notes will "showcase the UKs rich and varied wildlife," according to Victoria Cleland, chief cashier at the Bank of England.

Below, the article continues.

Try six BFIA free issues right now.

Gain unmatched financial insight, analysis, and professional advice that will benefit you.

"I look forward to hearing about the public's favorite wildlife during our forthcoming summer consultation," she continued. "Start your trial."

To generate a list of potential options for the public to select from, a panel of wildlife experts will be assembled, including academic Steve Ormerod from Cardiff University and wildlife broadcaster Gordon Buchanan MBE.

It will take a few years before wildlife appears in your spare change, even after the public has had a say in what animals will be featured on the new notes.

The monarch will still appear on one side of the new notes, but UK animals will be featured on the other.

The Home Nations (England, Northern Ireland, Scotland, and Wales) will also be included on the new notes, according to the BoE.

What kind of wildlife would you choose?

We would like to know what BFIA readers would like to see on their banknotes even though the BoEs wildlife voting is not yet open.

Why are banknotes being changed by the BoE?

Although the BoE has previously stated that it regularly examines banknote designs, one of the banks' primary motivations for releasing new notes is to use cutting-edge technology to produce money that is more difficult to counterfeit.

New note design, testing, and printing, according to the BoE, is a "multi-year" process.

What other new banknotes have been issued recently?

Following King Charles III's accession to the throne in 2022, a number of new banknotes with the monarch's face were produced.

The first of these notes, in denominations of 5, 10, 20, and 50, went into circulation in June 2024.

The flip sides of the new notes still have their previous designs, but one side now features the King's face rather than the late Queen Elizabeth II.

Former prime minister Winston Churchill appeared on the back of the 5 note, while the artist J appeared on the 20 note. Mr. W. Turner on one side.

Since they were among the first notes to go into circulation, some of these new notes have sold for thousands of pounds.

Since the King's accession to the throne, coins with his likeness have begun to appear at Post Office locations in late 2022.

If you're wondering what to do with old banknotes, we provide all the information you need in a separate article.