Queen Elizabeth II is featured on several currencies around the world. Now what?

For decades, Queen Elizabeth II has been featured on British banknotes and coins. Also, around the world, her portrait has been featured on currency in dozens of countries. Now, what will happen after Queen Elizabeth II’s death? 

For decades, Queen Elizabeth II has been pictured on British banknotes and coins. It has been done as a reminder of the British empire’s colonial reach. Queen Elizabeth II died on September 8. Now, what will happen after her death? It will take time to remove the monarchs from their money in the United Kingdom, Australia, New Zealand, Canada, and other countries. 

Switching Queen Elizabeth II on currency  

It would not be immediate to switch. The queen’s portrait on British notes and coins is expected to be replaced by a likeness of the new King Charles III. The bank of England said, “Current banknotes featuring the image of Her Majesty the Queen will continue to be legal tender.” 

After the official 10-day mourning period, an announcement on existing paper money issued by the U.K.’s central bank will be made. Furthermore, the official maker of British coins, the Royal Mint, said that all coins with her portrait “remain legal tender and in circulation.” More information will come later. 

The Royal Mint said on its website, “As we respect the period of respectful mourning, we continue to strike coins as usual.” British money with the queen’s portrait will likely be in circulation for years. It will be circulated with 4.7 billion U.K. banknotes worth 82 billion pounds ($95 billion) and about 29 billion coins. 

According to Coin Expert, “Rather than all of the current coins and notes being handed in, the process will be a gradual one and many of the coins featuring portraits of Queen Elizabeth II will remain in circulation for many years to come.” 

To redesign notes and coins now, a new portrait of Charles needs to be taken to use on them. Coins depicting him will show him facing to the left. It will replace the queen’s rightward gaze in line with a tradition dating to the 17th century. It gives the order for monarchs to be shown in profile and in the opposite direction to their predecessors. 

Currency in other countries 

Currencies from other countries like Australia, Belize, and Canada also feature the queen. Now they will also be updated with the new monarch. But the process could take longer. The Coin Expert said, “It is much easier to enforce a new design in the country where it originates than in other countries where different jurisdictions may take place.” 

The bank of Canada said, “There is no legislative requirement to change the design within a prescribed period when the Monarch changes.” Canada’s current $20 banknote is made of synthetic polymer. It is designed to “circulate for years to come.” 

The currency depicted the queen 

When she was a princess, she first appeared on money. In 1935, Canada’s $20 bill featured 9-year-old Princess Elizabeth as part of a new series of notes. Then her grandfather, King George V, was the monarch. 

A year after her coronation, in 1954, Canadian $20 bills were updated with a new portrait of the queen. Then, chiefly in the British colonies and Commonwealth countries, her portrait started appearing on different currencies around the world. 

Seven years after her coronation, in 1960 British bills got her portrait. Starting with the 1-pound note, the Bank of England granted permission to use her likeness on paper money. She became the first monarch to be featured on British banknotes. 

Outside the U.K., the queen is also featured in currencies 

Queen Elizabeth II has appeared on at least 33 different currencies, more than any other monarch. It was an achievement noted by Guinness World Records. Where she remains a beloved figure, her portrait is still featured on the currency. 

Her image is also present on notes and coins issued by the Eastern Caribbean Central Bank. This is the monetary authority for a group of small nations like St. Lucia, St. Vincent, Antigua and Barbuda, Grenada, Dominica, Montserrat, and the Grenadines. 

In 1962, Jamaica gained independence from Britain. After that, Jamaica’s central bank replaced the queen on paper notes with portraits of national heroes. Instead of the queen, Seychelles features local wildlife.