Ms. Marie Lemay reports

ROYAL CANADIAN MINT UNVEILS CANADIAN EFFIGY OF HIS MAJESTY KING CHARLES III

The Royal Canadian Mint has ushered in a new era in the history of Canadian coins when its president and chief executive officer, Marie Lemay, unveiled and struck the very first Canadian circulation coin bearing the effigy of King Charles III at the mint's manufacturing facility in Winnipeg, Man. The 2023-dated $1 circulation coin becomes the first displaying the portrait of a new monarch in 70 years, after the effigy of Queen Elizabeth II graced Canada's coins from 1953 to 2023. The contemporary portrait of King Charles III is the work of Canadian artist Steven Rosati, who also participated in the unveiling ceremony.

"Since opening its doors in 1908, the Mint has featured the portrait of the reigning monarch on Canadian coins. When the government of Canada announced that the effigy of His Majesty King Charles III would appear on Canadian coins, we were proud to once more uphold a long-standing Canadian tradition," said Ms. Lemay. "Many of our employees worked as one to meet the historic challenge, and we are pleased to be ready for production on the day of His Majesty's birthday."

"The royal effigy on our coinage is an important Canadian symbol," said Chrystia Freeland, deputy Prime Minister and Minister of Finance. "Steven Rosati's portrait is a fitting tribute, and Canada is proud to mark His Majesty's birthday with the striking of this first circulation coin."

Following the government of Canada's May 6, 2023, announcement that the obverse (heads side) of future Canadian coins would feature the effigy of King Charles III, the Royal Canadian Mint immediately launched the process to create this new design. It invited experienced coin designers and mint engravers to submit their concept of a made-in-Canada portrait of the new monarch. After many artists and engraved answered this historic call, Mr. Rosati (based in Montreal) prevailed over a strong field of finalists.

"I am honoured and humbled to have had my design of His Majesty King Charles III's effigy chosen for such a prestigious moment in the history of Canadian coins and very excited and proud to eventually see it in production," said Mr. Rosati. "I am also very grateful to be among the many talented artists who have done designs for the Royal Canadian Mint."

Mr. Rosati is only the third Canadian artist to have designed a royal effigy for Canada's coinage since 1990. He is preceded by Dora de Pedery-Hunt (1990 to 2002) and Susanna Blunt (2003 to 2023).

The Mint plans to begin circulating a small volume of coins in all circulating denominations by this December through public coin exchanges and by meeting new market demand through the national coin management system. The addition of King Charles III's effigy to the obverse of bullion and numismatic coins will also begin in December, 2023.

The following collector products are being issued in commemoration of this milestone:

• The 2023 Classic Uncirculated Set -- First Strikes;
• The 2023 Special Wrap Roll Collection -- First Strikes;
• The 2023 50-Cent Special Wrap Circulation Roll.

About the Royal Canadian Mint

The Royal Canadian Mint is the Crown corporation responsible for the minting and distribution of Canada's circulation coins. The mint is one of the largest and most versatile mints in the world, producing award-winning collector coins, market-leading bullion products, as well as Canada's prestigious military and civilian honours. As an established London and Comex Good Delivery refiner, the mint also offers a full spectrum of best-in-class gold and silver refining services. As an organization that strives to take better care of the environment, to cultivate safe and inclusive workplaces and to make a positive impact on the communities where it operates, the mint integrates environmental, social and governance practices in every aspect of its operations.