Terry Fox to Grace Canada’s New $5 Bill, Honoring His Inspiring Legacy

In a fitting tribute to one of Canada’s most enduring icons, the federal government has announced that Terry Fox will grace the next $5 bank note. This historic decision was revealed Monday, marking a heartfelt acknowledgment of Fox’s legacy of resilience and philanthropy.

The journey to select the new face of the $5 bill began nearly five years ago. The Bank of Canada initiated an open nomination process that received over 600 submissions from Canadians eager to see their heroes commemorated. Fox emerged as the chosen figure after an independent advisory council narrowed the field to eight nominees. Ultimately, Finance Minister Chrystia Freeland made the final decision, which was confirmed in the 2024 Fall Economic Statement, released hours before her resignation from cabinet.

The Fox family expressed deep appreciation for this honor. “We are truly grateful,” they said in a statement issued by the Terry Fox Foundation. “We hope when the ‘Terry Fox fiver’ lands in the wallets and pockets of Canadians, they will consider Terry’s vision of eradicating cancer through research.”

Terry Fox, a young man from Port Coquitlam, B.C., inspired millions with his Marathon of Hope. In 1980, he embarked on an ambitious journey to run across Canada on a prosthetic leg, raising awareness and funds for cancer research. Diagnosed with osteosarcoma, Fox had lost his right leg but not his indomitable spirit.

Though his run was tragically cut short in 1981 when cancer spread to his lungs, Fox had already achieved his goal of raising $1 for every Canadian at the time, collecting an impressive $24.7 million. His enduring legacy continues through the annual Terry Fox Runs, which have collectively raised over $800 million globally for cancer research.

The decision to feature Fox on Canada’s currency has been widely celebrated. Port Coquitlam Mayor Brad West highlighted Fox’s ability to inspire people worldwide, while B.C. Premier David Eby lauded the recognition as a well-deserved honor.

Meanwhile, Sir Wilfrid Laurier, currently on the $5 note, will transition to the $50 bill in future redesigns, leaving questions about the fate of William Lyon Mackenzie King, who currently appears on the $50 note.