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The 1954 «Devil's Face» banknote: Canada's most controversial currency

Apr 10, 2026

1954 $ «Devil's Face» 100 banknote. Photo courtesy of Bank of Canada Museum.


Canadian bank bills of 1954 «face of the devil» are among Canada's most intriguing coins. Often misunderstood, their history is rooted in public perception rather than design intent. Here's a closer look at what these bills are, how to identify them and what their value is today.


What is the «devil's face» banknote?


The term «devil's face» refers to a series of Canadian banknotes (officially called the «Canadian landscape series») issued in 1954, shortly after Queen Elizabeth II's accession to the throne. It was the first Canadian coin to feature the portrait of the young Queen on all denominations, from 1 $ to 1,000 $.

Shortly after the bills were put into circulation, people began to notice something unusual about the Queen's hair. The highlights and shadows of the engraving seemed to form the image of a smiling face, with what looked like full eyebrows, a hooked nose and a mischievous grin. Many interpreted this as a «devil's face» hidden behind the queen's ear, and the term stuck.

Whether you see it immediately or need it pointed out, the illusion is striking once you notice it, and has quickly become a topic of public discussion.


Controversy and redesign


Yousuf Karsh's portrait of Queen Elizabeth IIPortrait of Queen Elizabeth II by Yousuf Karsh. Photo courtesy of Bank of Canada Museum.


Public reaction quickly gained momentum, and the case generated enough attention to go beyond Canada's borders. In 1956, British politician H. L. Hogg even wrote to Canada's High Commissioner to the United Kingdom, expressing concern about the image and suggesting that it seemed too deliberate to be accidental. As the story spread, it fueled speculation and conspiracy theories, with some attributing it to hidden symbolism or even to the engraver himself.

The original portrait was based on a photograph by renowned Canadian photographer Yousuf Karsh, and was engraved by George Gunderson, Art Director of the British American Bank Note Company in Ottawa. Comparing the engraving with the original photograph, it becomes clear that Gunderson's work closely followed the source, and that the «face» was merely an unintentional visual illusion.


Comparison of the portrait of Queen Elizabeth II with the «Devil's Face» engraving»Portrait of Queen Elizabeth II by Yousuf Karsh compared to George Gunderson's engraving. Photo courtesy of Bank of Canada Museum.


The Bank of Canada moved quickly to revise the design, calling on engraver Yves Baril to adjust the portrait. In 1956, the original plates were modified to darken the highlights in the Queen's hair, eliminating the illusion. These revised banknotes are often referred to as the «modified portrait», while the originals are known as «devil's face».


How to spot a «devil's face» bill»


Identifying one of these banknotes requires careful observation of the Queen's portrait. You won't be able to rely on the date, because unlike coins, banknotes display the year of the series issued (1954) and not the year the individual bill was printed.

Pay particular attention to the lower back of her hair, just behind her ear. On the original 1954 banknotes, the play of shadows and reflections resembles a small face, often described as having :

  • Two dark «eyes» with full «eyebrows
  • A well-defined, hooked «nose
  • A curved «mouth», almost a wry smile
  • A pointed chin
  • The surrounding hair forms what looks like a plated hairstyle or forehead.

On modified versions from 1956, this area appears darker and more uniform, eliminating the distinct shapes that created the illusion.

When in doubt, comparing side-by-side images of the original and modified portraits can make the difference much clearer.


Comparison of 2 $ Canadian banknotes from 1954, one «devil's face» and the other «modified portrait».»Top: 1954 Canadian 2 $ «Devil's Face» bill. Bottom: 1954 Canadian 2 $ «modified portrait» bill. Photos courtesy of Canadian Coin & Currency.


Are they rare?


Despite their reputation, the «devil's face» are not as rare as many people think. Millions were printed before the design was changed, and a significant number have survived in collections over the decades.

However, rarity still depends on several factors, including :

  • Name (higher denominations such as 100 $ or 1,000 $ are naturally rarer)
  • Conservation status (new, uncirculated bills command higher premiums)
  • Serial numbers (low numbers, «radar» tickets or consecutive series can increase the value)
  • Replacement tickets (identified by special prefixes)

So, even if the bills themselves are not extremely rare, some specific examples may remain highly sought-after by collectors.


What's their value?


The value of a banknote «devil's face» from 1954 can vary considerably. A circulated 1 $ bill may have only a modest premium above face value, while a high-quality, uncirculated bill, particularly in a higher denomination, may be worth much more.

As prices fluctuate according to market demand and state of preservation, it's important to consult reliable price guides. One resource commonly used by collectors is Numicanada, which provides updated estimates for different grades and denominations.

It's also important to note that online marketplaces can be misleading. Listings on platforms like eBay often display asking prices rather than actual sale values, which can create unrealistic expectations.

For the most accurate appraisal, it's best to consult a reputable numismatic specialist. Many of our branches are staffed by well-trained numismatic specialists, and all other branches consult these experts as required. We also work closely with our sister company, Canadian Coin & Currency, a trusted leader in professional numismatics with a heritage of service to the numismatic community since 1987.


Final thoughts


50 $ Canadian «Devil's Face» banknote, 195450 $ «Devil's Face» banknote, 1954. Photo courtesy of cgb.


Banknotes «devil's face» from 1954 are a fascinating example of how perception can shape history. What began as an unintentional visual illusion quickly became a topic of national discussion, eventually leading to a redesign of Canadian currency.

Today, these bills remain a popular part of Canadian numismatic history. While not as rare as some believe, their history, distinctive appearance and connection to a unique moment in time continue to make them highly sought-after by collectors.

So, if you ever come across a Canadian banknote from 1954, take a closer look - you just might spot the famous «devil's face» hidden in the details.

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