Bank of Canada unveils new $20 bill featuring King Charles, Vimy memorial

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For the first time in more than 70 years, a new monarch will appear on Canada’s $20 bill.

The Bank of Canada unveiled the new banknote on Thursday during a ceremony in Ottawa.

The bill features a linework image of King Charles III executed by Canadian engraver Jorge Rodrigo Peral based on a 2024 photograph taken by Andrew Parsons, a British photographer, for the currency. The King’s portrait is displayed vertically on the bill.

Charles became King after the 2022 death of his mother, Queen Elizabeth II, whose time on the $20 banknote has now exceeded the length of her record-breaking 70-year reign. Work on the new banknote began on the day of King Charles’ coronation, May 6, 2023, according to a Bank of Canada official speaking on background ahead of the unveiling.

The back of the bill features an image of the Canadian National Vimy Memorial in France. About 3,600 Canadians died at the Battle of Vimy Ridge in 1917 during the First World War.

Circulation of the new $20 bill is scheduled to begin next February.

It’s the second vertical banknote produced by the Bank of Canada after the $10 note, which features Viola Desmond, a civil-rights pioneer and businesswoman from Nova Scotia. It was unveiled in 2018.

Since 1937, when King George VI first appeared on the $20 banknote early in his reign, all of Canada’s $20 bills have featured likenesses of Canada’s monarchs.

As an eight-year-old princess, the future Queen Elizabeth was first featured on the Bank of Canada’s inaugural $20 banknote in 1935, before her portrait was replaced by her father’s. She returned to the $20 bill in 1954, after ascending to the throne in 1952.

“Her image became one of the most recognizable on our currency for generations of Canadians. Today, this tradition continues with His Majesty King Charles III, who is appearing on a Canadian banknote for the first time,” Governor-General Louise Arbour told the unveiling ceremony on Thursday.

Ms. Arbour said Canadian banknotes are more than just a form of payment.

“They reflect our history, our realities and the significant achievements of our collective journey,” she said. “Our currency affirms our sovereignty and our determination to define ourselves in the eyes of the world on our terms.”

Tiff Macklem, the Governor of the Bank of Canada, said at Thursday’s unveiling that the bill will feature new security features to prevent counterfeiting.

These include a purple security stripe that appears to spin and transform when the bill is moved. The stripe, which is difficult to reproduce, has been used elsewhere in the world but is making its debut in Canada with the new $20 banknote.

“Our new $20 note is both visually stunning and more secure than ever,” Mr. Macklem said.

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Ahead of the bill’s rollout in 2027, the bank will hold discussions with law enforcement agencies and financial institutions to raise awareness of its security features, Mr. Macklem said.

Of the Vimy Ridge imagery on the banknote, Mr. Macklem noted that his grandfather, also named Tiff, was a lieutenant in the Canadian military who served as a liaison officer during the battle.

“Fortunately – as evidenced by my standing here before you – my grandfather returned home to Canada. Many did not,” he said.

He noted that the Vimy Memorial, which he personally saw during a visit to France earlier this summer, is a symbol of sacrifice.

“The soaring pillars and solemn sculptures honour those who gave their lives to protect freedom, peace and democracy,” he said.