It’s official. The Government of Canada has confirmed that King Charles III will replace Queen Elizabeth II on all coins and bank notes, though a timeline for when this will happen was not mentioned.
The Royal Canadian Mint has already initiated the process to update the image of the monarch on the obverse of coins used in Canada. According to the Mint’s website, some 350 artists, in addition to internal engravers, will have the opportunity to draft a portrait that will undergo review (including sign-off from Buckingham Palace) before hitting production. The design will feature the King facing left, whereas the Queen faces right.
Currently, the Queen appears on the nickel, dime, quarter, loonie and toonie coins, as well as the twenty dollar bill.
In Canada, coins are produced by the Royal Canadian Mint, while the polymer bills are printed by the Canadian Bank Note Company.
Although Canada is updating portrait on our money, other commonwealth nations aren’t in a rush. Australia is forging ahead with an update to their five dollar bill which will see the late Queen’s effigy replaced with an indigenous design. New Zealand is also considering a change, but has yet to announce a decision.
All existing banknotes and coins with the likeness of Queen remain valid for payment, even after the introduction of the updated currency. The Royal Canadian mint states “coins have a life span of over 20 years.”
Her Majesty Queen Elizabeth II passed away on September 8th, 2023.
© Hugo Burnand/The Royal Household
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