Will Canada see a new face on coins following the coronation?

With the coronation of King Charles III, could Canadians see a new face on their coins and bills in the near future? Ottawa has yet to make that decision.

Since the death of Queen Elizabeth II in September, the Liberal government has been quiet about its intentions to put the King on Canadian currency.

Professor Jonathan Malloy from Carleton University says he believes the government is having a hard time with this decision because Canadians are ambivalent about the monarchy.

“It’s a dilemma. Whatever it does, it is going to offend some people. By putting Charles on the currency, a lot of people won’t like that or by leaving him off, people won’t like it either. I can see why they are having trouble making this decision,” explained Malloy.

Moves are varied across the commonwealth. New Zealand’s reserve bank says it’s prepared to change out the image of Queen Elizabeth for a design approved by the King, but Australia decided not to place King Charles on their new five-dollar bill.

Canadian Currency with Queen Elizabeth II. (Photo Credit: Alex Karpa)

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Both the Bank of Canada and the Royal Canadian Mint confirmed to CityNews that they cannot comment on possible designs or processes until the federal government makes a decision.

A spokesperson for the Minister of Finance tells CityNews that additional details on this topic are forthcoming.

Jasmine Allen from Gatewest Coin in Winnipeg says she doesn’t see Canadians wanting to pay out of pocket, to transition to Charles.

Jasmine Allen from Gatewest Coin Ltd. (Photo Credit: Alex Karpa, CityNews)

“For the coins and paper money in particular, you have to make new prints, new dyes, all that kind of stuff. It costs money to do the designs. It costs money for someone to take the time and actually go through the process with the Crown to get all the approvals for all the Charles epigeous and all that kind of stuff,” explained Allen.

“I mean it’s such a tradition to always have that ruling monarch on the coins. I do think they should continue that.”

Over the past few years, calls have grown across the country to place Indigenous icons on Canadian currency, specifically placing Indigenous war her Sergeant Tommy Prince on the $5 bill.

“I have a huge appreciation for Metis and Aboriginal culture in general,” said Allen. “I think it wouldn’t hurt to have something a little more mainstream for something like that, yes.”