Full Breakdown
King Charles III Appears on Canada’s New $20 Banknote
9/4/2026, 11:25:06 AM
Core Event: Unveiling of the First King-Charles $20 Note
On September 3 (scheduled), the Bank of Canada will unveil a new vertical $20 banknote featuring King Charles III at its centre. The ceremony in Ottawa will be attended by Bank of Canada Governor Tiff Macklem, Governor General Louise Arbour, and Secretary of State Wayne Long. The design replaces the portrait of Queen Elizabeth II and is slated for public release in February 2027.
Background & Context
Since 1935 Canadian notes have shown the reigning monarch, beginning with Princess Elizabeth. The $10 vertical note released in 2018, depicting Viola Desmond, introduced the vertical format; the $20 note is the second vertical denomination. Canada is the first Commonwealth nation outside Britain to feature the current king on its currency.
Design Features & Security Enhancements
The polymer note is predominantly green and displays King Charles III’s portrait framed by a floral tapestry reflecting his environmental advocacy. Provincial and territorial floral emblems represent all 13 regions, while a transparent circular window showcases plants of cultural significance to Indigenous Peoples, developed with the Indigenous Advisory Circle. The reverse retains the Canadian National Vimy Memorial as a tribute to World-War-I service.
Data & Statistics
- Design and development cost: $6 million (Bank of Canada).
- Production cost increase: $0.05 per note, raising the total to $0.35 per bill.
- The $20 denomination is the Bank of Canada’s most-circulated currency, making its anti-counterfeiting upgrades especially critical.
Official Statements & Responses
Governor Macklem called the release “historic” and highlighted the note’s visual appeal and enhanced security. The Bank of Canada noted extensive consultation with Indigenous groups, veterans’ organizations, and accessibility advocates throughout the design process.
Timeline
- May 6 2023 (scheduled): Work on the new note began on the day of King Charles III’s coronation.
- August 31 2026 (scheduled): Announcement of the upcoming unveiling.
- September 3 (scheduled): Official unveiling ceremony in Ottawa.
- February 2027 (scheduled): Gradual entry into circulation.
Why It Matters
The note marks a symbolic shift in Canada’s monetary iconography, linking the monarchy with contemporary themes of environmental stewardship, Indigenous partnership, and national heritage. Its advanced security features aim to protect the most frequently used denomination, while the design reinforces Canada’s constitutional traditions and its role within the Commonwealth.
Verbatim Quote
- “This new $20 bank note is striking, symbolic and secure,” — Tiff Macklem, Governor of the Bank of Canada
