The last time the Mint changed the Canadian coins to honour a new monarch was 70 years ago when the late queen was crowned, making this another historic transformation. 14, 2023.Įarlier this year, the federal government instructed the Mint and the Bank of Canada to replace the image of the late queen with one of the King on all coins and the $20 bill, following the King’s accession to the throne in September 2022. The new Canadian coin depicting King Charles III was unveiled on Tuesday, Nov. “Replacing dies to keep supplying the marketplace with new coins and engraving new designs on coins are routine aspects of our operations,” he told CTVNews.ca over email on Tuesday. While Canada is not obligated to put the monarch on its money, it is a tradition that dates back to 1908, when the Mint began producing coins during King Edward VII’s reign.Īlex Reeves, a spokesperson for the Mint, said there are no “significant costs” to designing a new effigy. The description surrounding the King’s effigy is also different, changing from “Regina,” meaning “Queen” in Latin, to “Rex,” meaning “King.”Īnother change is that the initials of the artist will also appear on the obverse.ĭuring the 10-minute unveiling ceremony, Lemay activated the machine to strike the first $1 coin depicting King Charles III’s effigy. This change of direction is to differentiate one monarch’s reign to the next. To uphold long-standing traditions, the King’s profile faces left, opposite to the direction his late mother, Queen Elizabeth II, faced.

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However, the Winnipeg team worked tirelessly to meet the “ambitious timeline.”

Lemay said it normally takes between a year to 18 months to circulate a new design on coins. “Today, a new chapter in Canadian history begins.” “This is a big day for us at the Mint,” said Lemay during the unveiling. Marie Lemay, the president and CEO of the Mint, introduced the effigy that will soon adorn one side of Canadian coins and which will also be pressed onto a loonie for the first time. The Royal Canadian Mint unveiled the first coins bearing the face of King Charles III on Tuesday at its Winnipeg manufacturing facility.

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