Close X
Saturday, November 23, 2024
ADVT 
National

With the death of Queen Elizabeth II, what happens to our bills and coins?

Darpan News Desk The Canadian Press, 08 Sep, 2022 06:26 PM
  • With the death of Queen Elizabeth II, what happens to our bills and coins?

OTTAWA - Canadians are used to seeing Queen Elizabeth II on their money, but that could change following the death of the longest-serving British monarch and Canadian head of state.

However, the Bank of Canada, which produces Canada's paper bills, said changes likely won't be seen immediately.

The current $20 bank note featuring the Queen, is intended to circulate for years to come, the central bank said, and there is no legislative requirement to change the design within a prescribed period when the monarch changes, it said. New bank notes, including the portrait subject, are approved by the finance minister.

One observer says he doesn’t know if Canadians will ultimately see King Charles III, as he’s now known, on our bills.

"I don’t know if we will, since there is only the $20 that has the Queen on it, and Canadians may want to change this," said University of Toronto business history professor Dimitry Anastakis.

The government will likely keep the Queen on the $20 bill for a while before any changes are made, however, he noted.

The Royal Canadian Mint, which manufactures and distributes Canada's coins, said the government has exclusive jurisdiction over their design.

The mint said it will abide by the decision and timetable of the government on changing coins.

Mint spokesperson Alex Reeves said the legal tender status of coins currently in circulation does not change when a new monarch ascends the throne.

Coins with the face of the queen's father, King George VI, circulated for decades after his death.

They are more likely to change sooner than bills, however, said Anastakis.

"It is quite likely that we will see (the King) on our coinage in the next year or two, but this depends on the Mint, and what their plans are."

Anastakis said he doesn't know if the Mint already has images of King Charles III for the coinage or if the monarch needs to designate an official image.

The King cannot face the same direction as the Queen, who faces right, he added. Each monarch faces in the opposite direction to the one before.

Although it is tradition to feature the reigning monarch on Canadian currency, there are no rules requiring this.

The Queen appeared on the Bank of Canada's first series of bank notes as a child in 1935.

MORE National ARTICLES

Richmond RCMP investigating shots fired

Richmond RCMP investigating shots fired
Mounties believe that it was a targeted shooting. A dark coloured pickup truck was observed fleeing the scene and investigators have located an abandoned vehicle suspected of being involved in the incident in Surrey.

Richmond RCMP investigating shots fired

Overnight stabbing in Surrey leaves man dead: IHIT

Overnight stabbing in Surrey leaves man dead: IHIT
Frontline officers arrived on scene and located a 45-year-old man suffering from serious injuries. The man was transported to hospital where he later died of his injuries.

Overnight stabbing in Surrey leaves man dead: IHIT

Transport minister to answer questions about airport delays at committee hearing

Transport minister to answer questions about airport delays at committee hearing
Transport Minister Omar Alghabra will testify today before the House of Commons transport committee on airport and airline delays that have wreaked havoc on travellers over the past several months. Airlines and airports have been grappling with a surge in customers this summer, compounded by staffing shortages affecting both carriers and federal agencies.

Transport minister to answer questions about airport delays at committee hearing

Interim handgun import ban kicks in today

Interim handgun import ban kicks in today
The measure is part of a broader firearms-control package that would allow for the automatic removal of gun licences from people committing domestic violence or engaged in criminal harassment, such as stalking, as well as increase maximum penalties for gun smuggling and trafficking to 14 years from 10.

Interim handgun import ban kicks in today

Pfizer booster approved for kids five to 11

Pfizer booster approved for kids five to 11
Health Canada has authorized a booster dose of the Pfizer-BioNTech vaccine for children between five and 11 years old, chief public health officer Dr. Theresa Tam said Friday. Tam said the National Advisory Committee on Immunization recommends children with underlying health conditions should be offered a booster no earlier than six months after their second dose.

Pfizer booster approved for kids five to 11

B.C. to ration liquor sales, says ABLE BC

B.C. to ration liquor sales, says ABLE BC
The executive director of the Alliance of Beverage Licensees says the limits at BC Liquor Stores took effect at 9 a.m. and will ration the quantity of alcohol that customers, including pubs, bars, restaurants, and the public, may purchase in a single transaction.  

B.C. to ration liquor sales, says ABLE BC