Canada's Changing Currency: A Look Back at the Evolution of the $20 Bill

The Bank of Canada recently introduced a new vertical $20 banknote featuring King Charles, but not everyone is pleased with the design. Many Canadians have called it 'ugly' and 'gross', especially since another British monarch is gracing our currency.

Since its introduction in 1935, the $20 bill has undergone many changes. The first issue featured an eight-year-old Princess Elizabeth, who would later become Queen Elizabeth II, on one side of the note. The reverse had a harvest allegory titled 'Testing the Grain,' with a thyrsus symbolizing prosperity, fertility, and hedonism.

Over the years, the design has evolved to feature various Canadian landscapes and themes. In 1937, bilingual banknotes were introduced, featuring King George VI on every denomination. The $20 bill had a distinct green colour and another harvest allegory representing fertility.

In 1969, the 'multicoloured era' began, with more colour added to the banknotes. Queen Elizabeth II continued to appear on the $20 bill, along with Moraine Lake in Alberta's Valley of the Ten Peaks on the reverse.

The Bank of Canada has been advancing technology and security measures, including a reflective security patch introduced in 1986. The 2001 series was designed entirely on computers, featuring Queen Elizabeth II alongside an illustration of the Parliament Buildings entrance.