With the death of Queen Elizabeth II, what happens to our bills and coins?

The Bank of Canada, which produces the country's paper bills, says changes likely won't be seen immediately

OTTAWA — Canadians are used to seeing Queen Elizabeth II on their money, but that could change following the death of the longest-serving British monarch and Canadian head of state.

The current $20 bank note featuring the Queen, is intended to circulate for years to come, the central bank said, and there is no legislative requirement to change the design within a prescribed period when the monarch changes, it said. New bank notes, including the portrait subject, are approved by the finance minister.

"I don’t know if we will, since there is only the $20 that has the Queen on it, and Canadians may want to change this," said University of Toronto business history professor Dimitry Anastakis. The Royal Canadian Mint, which manufactures and distributes Canada's coins, said the government has exclusive jurisdiction over their design.Mint spokesperson Alex Reeves said the legal tender status of coins currently in circulation does not change when a new monarch ascends the throne.They are more likely to change sooner than bills, however, said Anastakis.

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