This 2023 $200 fine gold coin is the first one ounce gold issued by the Royal Canadian Mint to mark the new reign of King Charles III. The simple but elegant design features His Majesty’s Royal Cypher encircled by beads together with the denomination and CANADA. As an historical anomaly, the obverse of this first King Charles III issue still features a posthumous effigy of late Queen Elizabeth, as the Royal Canadian Mint works towards completing a new effigy for the King. Mintage is extremely limited to just 375 coins. GST/HST exempt.
A royal cypher is a monarch’s identifier, much like a coat of arms. Cyphers have been used by British royals since the time of Henry VIII. They generally feature the monarch’s initial and titles, often beneath a symbol of rule, such as a crown. Unlike monograms that interweave letters, royal cyphers display each letter distinctly. The cipher for the new King was selected by His Majesty from a series of designs prepared by the College of Arms, consists of the initials 'C' and 'R' - representing Charles's name and "Rex," the Latin for king - alongside a depiction of the crown.