The first coins bearing the image of King Charles will be minted on Tuesday in Winnipeg, to be found in the wallets of Canadians within a few weeks.
After 70 years of minting coins bearing the likeness of Queen Elizabeth II, the Royal Canadian Mint will adjust its presses and begin printing the face of King Charles III. Tuesday will also be an opportunity to discover the effigy chosen to illustrate King Charles.
The Royal Canadian Mint had already, last spring, put on sale coins bearing the royal monogram of King Charles, but not his face. These were collector’s items, including pure gold coins with a legal value of $200, but retailed at $4,199.95.
Many commemorative coins of Queen Elizabeth have also been released since her death on September 8, 2022.
A sign that royalty fascinates collectors, the Royal Canadian Mint indicated in its second quarter financial reports last August that it expected to exceed its financial forecasts for 2023.
“The success of numismatic products in honor of the reign of Queen Elizabeth II and the coronation of His Majesty King Charles III also contributed to the Mint’s financial results for the quarter,” noted the government organization.
The putting into circulation of the first coins bearing the image of King Charles comes almost a year after the United Kingdom, which put 50 pence coins into circulation bearing the face of the new monarch from December 8, 2022.
Year in and year out, the Royal Canadian Mint produces approximately 1 billion coins in Winnipeg.
Remember that the federal government also asked the Bank of Canada last spring to replace the face of the Queen with that of her successor on the $20 bills, a process that could take a few years.