Originally Posted by
GUWonder
The UK is a different beast. What’s sort of ironic is that the US has often been at the forefront of the FATF and OECD in pushing some other countries to demonetize notes, centralize note-issuance and substitution practices; but with the US, the UK is often more loyal than the queen (or, king, as it will probably soon be), in doing what the US wants.
New BoE notes and coins featuring king will eventually be substituting for the currency with QE II on them. After becoming Queen Elizabeth II, it seemed like it took around c. 8-10 years until her face was making it around on BoE currency. It may turn out to cost the equivalent of at least a half billion US dollars for that kind of £ currency substitution this time around.