:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/bloomberglinea/NTAQSADJFJFYBD2NSPSMODSTLU.jpg "The image of Queen Elizabeth II will continue to appear on Canadian coins and banknotes")
Bloomberg — The former British colony of Canada has a new head of state. But the face of Queen Elizabeth II will continue to appear on her coin.
The image of Elizabeth II appears on the reverse of Canadian $20 coins and notes ($15.28) which were first introduced in 2011.
Those notes will remain in circulation, and the central bank said it was up to Prime Minister Justin Trudeau’s government to decide whether the new notes would bear the likeness of his successor, King Charles III.
“The current polymer $20 note is intended to circulate for years. There is no legislative requirement to change the design within a prescribed time frame when the monarch changes,” Bank of Canada spokesman Paul Badertscher said Thursday by email.
“As always, the Minister of Finance is responsible for approving the form and subject matter of any new note, including the subject of the portrait,” he added.
The Queen died peacefully at the age of 96 at her estate in Balmoral, Scotland, early Thursday. The office of Canadian Finance Minister Chrystia Freeland had no immediate comment on the design of the future currency.
–With help from Brian Platt and Erik Hertzberg.
Learn more at Bloomberg.com
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