Activist countries

What countries with the Queen on their currency will do next

With the passing of Queen Elizabeth II, many people are wondering what will happen to Commonwealth banknotes and coins, which laid bare the image of the monarch for much of her 70-year reign.

The Queen’s image can be found on the currency of more than 15 countries, the most populous being the United Kingdom, Australia, Canada and New Zealand. This list includes Bermuda, Saint Lucia and Montserrat, as well as other Caribbean countries that use the East Caribbean dollar. The currency of many countries in Oceania also bears the Queen’s portrait.

Tradition suggests that King Charles III will replace the Queen’s effigy on the currencies of these countries, although this has yet to be announced in most countries.

In some cases, the images of the monarch could be replaced by something else, as some Commonwealth countries have done in recent years, such as Jamaica and the small African nation of Seychelles.

Here is an overview of the known changes in the four largest countries with British monarchs on their currency.

UK

The Queen’s image has been on Commonwealth coinage for so long that there was apparently some confusion as to whether the money was still valid after her death.

A statement from the Bank of England this week clarified that the “queen will continue to be legal tender” in the UK, as is the case with other nations.

A portrait of King Charles III is set to replace the Queen on British currency, with more details to be provided after the Queen’s funeral, according to the central bank’s press release.

There are 4.5 billion sterling banknotes in circulation, so replacing them with King Charles III’s updated currency will likely take around two years, according to The Guardian.

Australia

Canada

In Canada, the Queen’s image appears on its coins and plastic $20 notes. The Department of Finance, which has the final say on design changes, has not announced any plans for what will replace the Queen’s image.

The Royal Canadian Mint released a statement noting that “a change of monarch does not require the replacement of circulation coins.”

There have been discussions on social media about replacing monarch portraits with new designs. An opinion poll conducted a few days after the Queen’s death by Pollara Strategic Insights found that 56% of Canadians would oppose the use of King Charles III’s face on coinage.

New Zealand