King Charles Will Officially Replace Queen Elizabeth On Canadian Money

Out with the old and in with the…old!

Assistant Editor, MTL Blog
A specimen 20 pound note with King Charles III, Right: A photo of the late Queen Elizabeth II.

A specimen 20 pound note with King Charles III, Right: A photo of the late Queen Elizabeth II.

Well, it's official. King Charles III will be replacing the late Queen Elizabeth II on Canadian coins and the $20 bill.

A press release issued by Prime Minister Justin Trudeau stated that Canadian money will soon feature an effigy of the newly crowned king on its money, following the next design process. "Today, the government confirmed with the Bank of Canada that the late Queen Elizabeth II’s portrait on the $20 bank note will be replaced by that of His Majesty King Charles III."

Canada has featured reigning monarchs on its coins since the Mint started production in 1908, and on bank notes since the Bank of Canada began production in 1935.

Although the design of the new effigy for circulating coins will only be released in the coming months, the Bank of England released a design featuring King Charles III back in December 2022, which just might be indicative of what Canadians can expect.

It was also confirmed that existing $20 notes featuring the late Queen Elizabeth II will still remain legal tender. As for when Canadians can expect to see King Charles III pop up on our money, the government said that the updating of the $20 bill could take "a few years."

In addition to appearing on the backs of Canadian coins and the $20 bill, Canada is also honouring its newest monarch with a new Canadian Royal Crown, which will incorporated "uniquely Canadian elements," including a maple leaf and a nod to Indigenous teachings. A new flag of the Sovereign will also be crafted along with the first definitive stamp and a special collector coin, too.

This article's cover image was used for illustrative purposes only.

Mike Chaar
Assistant Editor, MTL Blog
Mike Chaar is a writer by day and reality TV binge-watcher by night. When he’s not cracking down on recalls, celeb news and discovering the best of the best foodie spots across Montreal, he can be found indulging in his love for new cuisines, reading and music, with Mariah Carey being his ultimate diva.