Hail the King? Charles III won’t appear on new Australian bank notes. Here’s why

Australia is removing the British monarchy from its banknotes, the country’s central bank said. Australia’s new $5 note would not feature King Charles III, but the monarch could still appear on coins, the bank announced. The $5 note is Australia’s only remaining banknote featuring an image of King Charles III.

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The country’s central bank said the decision was made after close consultation with the government. The British monarch remains Australia’s head of state, although his role has become largely symbolic. Australia, like other former British colonies, has debated its constitutional ties to Britain and whether or not the country should continue them.

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The new $5 note would instead feature a design replacing a portrait of Queen Elizabeth II to honor “the culture and history of early Australians”.

“The other side of the $5 bill will continue to feature the Australian Parliament,” the bank said in a statement. Treasurer Jim Chalmers explained the decision and said the change was an opportunity to strike a good balance.

“The monarch will still be on the coins, but the $5 bill will say more about our history and heritage and our country and I see that as a good thing,” he said, while opposition leaders took the step with Peter Dutton Compare it to changing the date of the national holiday, Australia Day.

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“I know the silent majority disagrees with a lot of waking nonsense, but we need to hear more from these people online,” he said.

For the design of the new bills, the central bank plans to consult with indigenous groups, she said, adding that the current $5 will continue to be issued until the new design is rolled out. The old banknote will remain legal tender even after the new banknote has been put into circulation, the bank said.

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