The first coins bearing the image of King Charles will be minted in Winnipeg on Tuesday, and will be in Canadians’ wallets within weeks.
After 70 years of minting coins in 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 the opportunity to discover the effigy chosen to illustrate King Charles.
The Royal Canadian Mint had already put up for sale, last spring, coins with 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 trading at $4,199.95.
Many Queen Elizabeth commemorative coins have also been released since her death on 8 September 2022.
In a sign that the regalia fascinates collectors, the Royal Canadian Mint indicated in its second-quarter financial reports last August that it expected to beat its 2023 financial forecast.
“The success of numismatic products honoring 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,” the government organization noted.
The release of the first coins featuring King Charles comes almost a year after the UK introduced 50 cent coins featuring the new monarch’s face from 8 December 2022.
Year after year, the Royal Canadian Mint produces approximately 1 billion coins in Winnipeg.
Recall that the federal government also asked the Bank of Canada last spring to replace the Queen’s face with that of her successor on $20 bills, a process that could take several years.