Canada Unveils New $20 Note Featuring King Charles III
The Bank of Canada has unveiled its new $20 note, featuring King Charles III on the portrait side. This is the first Canadian banknote to feature Charles, who replaced Queen Elizabeth II's image in the redesign process. The central bank was directed by former Prime Minister Justin Trudeau's government in 2023 to include the King in the next redesign.
The design process cost $6 million and each note will have an additional $0.05 printed due to new security features, bringing the total cost to $0.35 per bill. Governor Tiff Macklem emphasized that banknote security is crucial for Canadian consumers and businesses, as well as the integrity of the currency system.
The new note includes a first-of-its-kind security strip with shifting elements, 3D effects, and spinning designs. Bank officials plan to do outreach in the coming months to ensure retailers and law enforcement are aware of the changes. The new $20 bill also features an image of Canada's National Vimy Memorial in France, a tribute to all Canadians who fought in World War I.