King Charles will be on new $20 bill starting in 2027

By Sonya Kuitenbrouwer

The Bank of Canada is redesigning the $20 bill, saying it will include a portrait of His Majesty King Charles III.

Government officials issued the update Monday, on the first anniversary of the King’s coronation.

The current bill, which is designed horizontally, features a portrait of Queen Elizabeth II, along with images of Vimy Ridge and the Peace Tower to commemorate Canadians who served in the First World War.

The central bank says it has designed the new bill vertically, a style introduced on the $10 bill in 2018. Following in the footsteps of previous designs, the new $20 bills will be made of polymer and feature images of the Canadian National Vimy Memorial.

The new bill is expected to be issued in early 2027 and will include numerous enhanced security measures to prevent counterfeiting.

“The $20 bank note is Canada’s workhorse note—more than a billion are circulating in pockets, cash registers and ATMs across the country,” said Bank of Canada Governor Tiff Macklem. “Cash remains an important payment method, and we’re looking forward to issuing a new $20 note that Canadians can continue to use with confidence.”

The $20 bill has not had a redesign since 2012. This will be the first time since 1954 that the Queen will not be the bill’s portrait.

The Bank of Canada first issued the $20 bill in 1935, featuring eight-year-old Princess Elizabeth.

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