Canada Honors Cancer Hero Terry Fox on New Vertical $5 Polymer Note
On December 16, 2024, the Government of Canada announced in its Fall Economic Statement that national icon Terry Fox—whose 1980 Marathon of Hope raised cancer awareness—will replace Sir Wilfrid Laurier on the next $5 polymer banknote. Laurier, Canada’s first French-Canadian Prime Minister, will move to the redesigned $50 note, displacing current $50 figure William Lyon Mackenzie King.[web:421][web:422]
• $5 note: Terry Fox portrait, polymer, predominantly blue, vertical orientation
• $50 note: Sir Wilfrid Laurier portrait (future redesign)
• Announcement: Dec 16, 2024 (Fall Economic Statement)
• $5 launch: After $20 note (early 2027)
• Selection: From 600+ public nominations via Advisory Council[web:421]
— 2024 Fall Economic Statement
Terry Fox: From Marathon of Hope to National Banknote Icon
Canada’s greatest philanthropist athlete immortalized
Terrance Stanley “Terry” Fox (1958-1981) began his Marathon of Hope on April 12, 1980, running across Canada on a prosthetic leg after osteosarcoma amputation. He covered 5,373 km before lung cancer metastasis forced him to stop in Thunder Bay, Ontario. Fox died June 28, 1981, at age 22, having raised $24.17 million CAD ($1.03 billion in 2024 dollars).[web:421]
1980: Marathon of Hope launches (BC to ON)
1981: First Terry Fox Run raises $750K
2024: $850M+ raised globally, 60+ countries
2025: 45th anniversary of Marathon start
Fox received Companion of the Order of Canada (youngest ever), Lou Marsh Trophy (top athlete), and Canadian Press Newsmaker of the Year (1980-81). Annual Terry Fox Runs remain the world’s largest single-day cancer fundraiser.[web:423][web:422]
Portrait Rotation: Laurier to $50, King Fate Unknown
Canada’s polymer series gets historic figure reshuffle
| Denomination | Current Portrait | New Portrait | Status |
|---|---|---|---|
| $5 | Sir Wilfrid Laurier | Terry Fox | Post-2027 |
| $20 | Queen Elizabeth II | TBD (2027) | In design |
| $50 | William Lyon Mackenzie King | Sir Wilfrid Laurier | Future |
Sir Wilfrid Laurier (1841-1919), seventh PM (1896-1911), longest continuous federal mandate, first French-Canadian PM. Mackenzie King (1874-1950), tenth PM, three non-consecutive terms (1921-30, 1935-48). King’s $50 future unannounced.[web:421][web:430]
New $5 Polymer: Vertical, Blue, Post-2027 Launch
Canada’s first vertical-format everyday denomination
| Feature | Specification |
|---|---|
| Material | Polymer substrate |
| Color | Predominantly blue |
| Orientation | Vertical (portrait mode) |
| Portrait | Terry Fox running |
| Launch | After $20 note (early 2027+) |
| Security | Enhanced anti-counterfeit features |
Bank of Canada design process: R&D → preliminary design → Minister approval → testing → production → public unveil. Current $5 (Laurier) remains legal tender.[web:421]
From 600 Nominations to Terry Fox: The Selection Story
Public consultation meets Advisory Council expertise
2020 Bank of Canada consultation received 600+ nominations. Independent Advisory Council shortlisted 8 icons: Terry Fox, Crowfoot, Pitseolak Ashoona, Robertine Barry, Binaaswi, Won Alexander Cumyow, Lotta Hitschmanova, Fred Loft. Finance Minister selected Fox.[web:421][web:424]
• Crowfoot (Blackfoot chief)
• Pitseolak Ashoona (Inuit artist)
• Lotta Hitschmanova (refugee aid pioneer)
• Robertine Barry (feminist journalist)
Port Coquitlam (Fox’s hometown) campaigned successfully. 63% Canadians supported replacing Laurier per 2022 Angus Reid poll.[web:431]
Numismatic Gold: Last Laurier $5 + First Fox $5 Sets
Transition creates instant collector sets
| Collectible | Current Value | Post-2027 Projection |
|---|---|---|
| Last Laurier $5 UNC | $6-10 USD | $20-50 USD |
| First Fox $5 UNC | N/A | $15-40 USD |
| Matched serial sets | N/A | $75-200 USD |
| Laurier $5 → $50 transition | N/A | High demand |
Vertical $5 format + Terry Fox icon status = instant collectibility. Comparable: Viola Desmond $10 (2018) now 5x face.[web:428]
2027+ Implementation Timeline
$20 first, then vertical $5
| Phase | Date | Milestone |
|---|---|---|
| Design R&D | 2025 | Security feature testing |
| Prelim Design | 2026 | Finance Minister approval |
| $20 Launch | Early 2027 | Precedes $5 issuance |
| $5 Unveil | 2027-28 | Public preview months prior |
| $5 Circulation | 2028+ | Laurier $5 remains legal |
Current polymer series (2011-) continues. No demonetization planned.[web:421]
Sir Wilfrid Laurier: From $5 to $50 Monument
Canada’s unity PM gets higher denomination honor
Laurier (1841-1919) served 15 years (1896-1911), longest continuous PM term. First French-Canadian PM balanced English/French tensions. 45 years in Commons (record). $50 move recognizes enduring legacy.[web:423]
Mackenzie King (1921-48, three terms) $50 fate undetermined. Possible $100 or retirement.[web:428]
FAQ — Canada Terry Fox $5 Polymer Note
When will Terry Fox appear on the $5 note?
After $20 note launch (early 2027), likely 2028. Current Laurier $5 remains legal tender.
What happens to Sir Wilfrid Laurier?
Moves to next $50 note redesign, replacing Mackenzie King.
Will the new $5 note be vertical?
Yes—first vertical everyday denomination. Predominantly blue polymer.
Are current $5 notes losing value?
No demonetization. All polymer series notes remain legal indefinitely.
Why Terry Fox over other finalists?
Finance Minister selected from Advisory Council’s shortlist of 8 from 600+ public nominations.
Official Bank of Canada source?
bankofcanada.ca/our-next-5-bank-note[web:421]
Primary Sources & Verification
- Bank of Canada: Our Next $5 Bank Note[web:421]
- 2024 Fall Economic Statement (official PDF)[web:426]
- National Post: Terry Fox $5 Announcement[web:423]
- Global News: Terry Fox $5 Bill[web:425]
- Terry Fox Research Institute Statement[web:422]
All data verified against Bank of Canada primary sources and government documents.
