CPM Forum
General => General Forum Comments => Topic started by: AJG on September 08, 2022, 02:35:37 pm
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The longest-serving monarch of Canada and England has passed away today.
https://www.msn.com/en-ca/news/world/queen-elizabeth-ii-longest-reigning-monarch-in-british-history-dead-at-96/ar-AA11BNeN?ocid=msedgntp&cvid=6981bbfbb7f948378dec5838c4cbde64
It looks like, for the first time since the 1954, the Bank of Canada will likely be changing the portrait on our $20 bills and coinage in the near future. I can see a new vertical $20 bill looming.
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Last time the monarch changed, it took nearly a year before coins were changed, and more than two years for bank notes. I expect we will see a new $5 first (HOW long have we been waiting for that now??) before a new $20.
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The million dollar question is, will Charles' face ever make it onto the $20 (or any other denomination) or will this be the opportunity to get rid of the monarch altogether? Coins are obviously another story.
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It took us 2 years to put QEII on the banknotes (& what a devilish enterprise that became! ;)).
Great Britain & Jamaica took 8 years. I think the average was 2-4 years. The main thing is it doesn't happen overnight.
I don't think it will take 2 years since the technology is different today but I would guess it will take up to 2 years. I suspect the transition will depend on a number of factors (when the BoC feels like a refresh is in order for the $20).
The vertical $5 was supposed to come out in 2021 wasn't it? It has taken forever. I think with the successes of the Better Than Cash Alliance, Covid & CDN's rapid acceptance of going digital (less need of cash), self-check outs imposed on us, there won't be any rush- but I could be wrong.
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I think we will see the new vertical $20 notes in 4 years at the earliest. Until then we will likely see another print run of QEII $20 notes with current design, possibly followed by the current design with Charles or another person.
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I think we will see the new vertical $20 notes in 4 years at the earliest. Until then we will likely see another print run of QEII $20 notes with current design, possibly followed by the current design with Charles or another person.
-You could be right. Last year, when I would withdraw 100 Twenties, I was surprised at how many 35% were still old BS_ or BI_ (2012) prefixes, about 35% FI_ FV_ FS_ M-C & then about 20-30% newer W-P (FW_, FV_, FY_) and about 5-10% (or less) of W-P FZ_ notes. My point being that new prefixes from the TWENTY denomination are being held in escrow & not being released like the other more updated ($5, $50 & $100) denominations. There are still a huge amount of FZ_ notes to be released yet & they are not wearing out like the paper (just not being used much).
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-You could be right. Last year, when I would withdraw 100 Twenties, I was surprised at how many 35% were still old BS_ or BI_ (2012) prefixes, about 35% FI_ FV_ FS_ M-C & then about 20-30% newer W-P (FW_, FV_, FY_) and about 5-10% (or less) of W-P FZ_ notes. My point being that new prefixes from the TWENTY denomination are being held in escrow & not being released like the other more updated ($5, $50 & $100) denominations. There are still a huge amount of FZ_ notes to be released yet & they are not wearing out like the paper (just not being used much).
To add some suspense… This image of a Wilkins-Macklem $20 comes from a Chinese collector. Could be a fake, but what would be the point? It has been a while since the latest print run (FZ_ notes) has been issued, we may see a new print run soon.
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Here is the new design!
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Thanks for sharing AZ! Apparently, she had a great sense of humour so I'm sure she would approve:
https://youtu.be/u6CuboZoc38 (https://youtu.be/u6CuboZoc38)
-That $20 with his smile is pretty amusing! :D :D
Here is the Bank of Canada's "Portraits in Time: link:
https://www.bankofcanada.ca/banknotes/bank-note-series/commemorative-notes/portraits-in-time/ (https://www.bankofcanada.ca/banknotes/bank-note-series/commemorative-notes/portraits-in-time/)
-But on a more serious note (or should I speculate), the question remains whether the BoC will use new signatures (Rogers-Macklem for eg) with FZT as the change-over? Will the remaining FZT be held back to support the new changing of the guard?
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But on a more serious note (or should I speculate), the question remains whether the BoC will use new signatures (Rogers-Macklem for eg) with FZT as the change-over? Will the remaining FZT be held back to support the new changing of the guard?
Notes printed in 2020 have Wilkins-Macklem signatures.
Notes printed in 2021 have Lane-Macklem signatures.
Notes printed in 2022 or later will have Rogers-Macklem signatures.
It is entirely possible that a new batch of QEII $20 notes with prefixes FZT-FZZ and FL_ was produced during any of these years so the last QEII notes may have any of the 3 signature combinations. If that is the case I am pretty certain that these notes will not be held back and destroyed and will be issued sometime soon.
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CBC article about this topic. The media is notoriously bad at writing currency-related articles, there always seem to be plenty of factual errors. But this one is actually quite good: https://www.cbc.ca/news/canada/king-charles-canadian-money-1.6578839
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The Queen will be buried in Windsor Castle tomorrow. I think that this is the perfect vignette for her from the 1935 series of bank notes.
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This is my favourite portrait of her (& probably why she remained on our $20):