KING CHARLES III ON CANADIAN MONEY

 

To mark the coronation of King Charles III, Prime Minister Justin Trudeau confirmed on Saturday that Canadian coins and the $20 banknote will be updated with the new monarch's image, replacing that of his late mother, Queen Elizabeth.

Trudeau said he has asked the Royal Canadian Mint to create an effigy of His Majesty to appear on the obverse, or "heads," side of Canadian coins in circulation. He also confirmed that he has asked the Bank of Canada to update the $20 bill — the only Canadian banknote left bearing a royal's face — during its next design process.

Canada is not obligated to put the monarch on its money, but it is tradition. While the new look may be an exciting switch for people who are fond of the monarchy, history buffs or collectors of currency, many Canadians are not thrilled that King Charles is the country's head of state and may not care to see his face in their wallets.

An Angus Reid Institute poll conducted ahead of the coronation indicated that an average of just 38 per cent of respondents want to see the new sovereign on their coins and bills. Support was highest in Ontario and the Prairie provinces, and lowest in Quebec.

Sixty per cent of respondents opposed even recognizing Charles as King, according to the same poll. Only 28 per cent say they have a favourable view of Charles, while nearly half (48 per cent) did not.

Canada has been printing and minting money bearing the likeness of its sovereign since 1908, when the Royal Canadian Mint began producing coins. The Bank of Canada only began issuing banknotes in 1935.

Alex Reeves, a spokesperson for the Royal Canadian Mint, said this will be the first time any Canadian who is 65 or younger will have seen such a significant change to its change.

It's also an important moment for those working on the update. "You can't help but feel like a witness to history," he told CBC News.

The Mint will select an original portrait created by one of an "inclusive field" of artists the institution works with, he said, and, once approved by the Canadian government and Buckingham Palace, the dyes will be produced to strike the King's image on coins of each denomination, and production can begin.

Although a new minting will see hundreds of millions of coins across all denominations being produced, there will be no need to remove coins with Queen Elizabeth's effigy, as they will remain legal tender.

To read the complete article, see:
How does putting King Charles on Canadian money make people feel? It's a coin toss (https://www.cbc.ca/news/canada/king-charles-image-money-1.6835006)

	NBS (coinbooks.org) Web