Paper money and coins bearing Queen Elizabeth II's image is still legal tender despite her death, the Bank of England said in a statement Thursday.

"As the first monarch to feature on Bank of England banknotes, the Queen's iconic portraits are synonymous with some of the most important work we do," the statement read. "Current banknotes featuring the image of Her Majesty The Queen will continue to be legal tender.

"A further announcement regarding existing Bank of England banknotes will be made once the period of mourning has been observed."

Queen Elizabeth II's likeness was first featured on a £1 note issued by the Bank of England in 1960.

Andrew Bailey, the Bank of England's governor, expressed "profound sadness" at the queen's death.

"On behalf of everyone at the Bank I would like to pass on my deepest condolences to the Royal Family," Bailey said. "For most of us, she is the only head of state we have ever known, and will be remembered as an inspirational figure for our country and the Commonwealth."

Queen Elizabeth II died Thursday at 96. She ascended to the throne in 1952.

The Queen's likeness is also used on currency in Canada, Australia and New Zealand.

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