No need to hoard $20 bills just yet, the last ones may be valuable

An new face is coming to the $20 bill. King Charles III will be featured on the bank note. His face will also be appearing on Canadian coins. 

Jerry Ferrari, the owner of G&G Jewellery and Coins in Windsor, Ont., says the old $20s with the Queen on them will eventually be worth more, but he can’t say how much.

“”Usually they can double or triple [in value], just depends on the demand and also on the signatures on the bills,” said Ferrari, who explains the last ones to be printed will be worth the most.

He suggests snapping up the first issues of uncirculated collector coin sets featuring King Charles when they are released.

“The first issue with Charles on with bills or silver coins, whatever the mint will issue will become valuable down the road,” said Ferrari.

In 1954, the mint had to pull some issues of bills featuring the Queen out of circulation because the design of the hair had what looked like a devil’s face in it. 

“Those are quite rare,” said Ferrari. He says depending on condition, those can fetch hundreds of dollars.

But some Canadians don’t want to see Charles on the $20 bill at all.

“I think all of this needs to stop now and the government that runs us should be on our bills,” said Puja Uppal.

“I think there’s a lot of Canadians that have earned their spots that should actually be on it instead of Charles,” said Megan Chin, both she and Uppal believe someone who’s indigenous would be a good choice.

The CEO of the Royal Canadian Mint has told CBC News an approved design for the new $20 bill won’t be ready until fall, and it will likely be a few years before it will appear in circulation.

The Bank of England already has a design for its bank notes and they will appear in circulation next year.