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20 Dollars - Charles III Moon phases

Issuer Royal Canadian Mint
Year 2025
Type Non-circulating coin
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Obverse description Fan-shaped flan with selective black rhodium plating across the field, creating a dramatic contrast with the polished silver effigy. Engraved portrait of King Charles III in right-facing profile occupies the central field, rendered in refined relief by engraver Steven Rosati. Flowing arc lines suggestive of lunar or celestial movement are impressed across the rhodium-plated background. The arc legend CANADA · 2025 appears along the upper curved border, with CHARLES III to the left and D · G · REX to the right of the effigy. The denomination 20 DOLLARS is inscribed along the lower straight edge.
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Obverse lettering CANADA · 2025 CHARLES III D·G·REX 20 DOLLARS SR
(Translation: Charles III, by the Grace of God, King)
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Additional information

The "Moon Phases" series continues a Royal Canadian Mint tradition of applying selective rhodium plating to create tonal contrast on fine silver — a technique the RCM has refined over roughly a decade of themed nature issues. Black rhodium, harder than silver, also provides modest protection on the treated surfaces, which matters for a coin clearly intended for the gift and collector market rather than any circulation function.

KM#3593–3599 indicates seven distinct pieces, each presumably keyed to a lunar phase. The .9999 fineness is the RCM's house standard for premium issues since the mid-2000s, when the mint moved away from .999 on its flagship collector silver.