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The Episcopal/Anglican understanding of the Eucharist is that of the "Real Presence" of Jesus Christ in the Sacrament. This doctrine of the "Real Presence" has always been unspecified within the Anglican Communion and has had various different understandings. Although (Archbishop of Canterbury under Henry VII) Thomas Cranmer specifically wrote against the doctrine of Transubstantiation in his 39 Articles of the Anglican Church, many "high church" Episcopalians/Anglicans accept this doctrine and recognize the 39 Articles more as a document of historical relevance rather than a declaration of faith.

Other Anglicans/Episcopalians believe that the "Real Presence" is Christ "in with and under" the elements of bread and wine similar to the understanding of constubstantiation, but different in that Christ's presence remains among the consecrated elements permanently, even after the mass ends, which is different from the Lutheran understanding.

Essentially, the Episcopal Church has a wide range of Eucharistic theologies which all fall into the category of "Real Presence." The one thing they all have in common is that they all believe that when the priest or bishop consecrates the bread and wine some how and in some way, it is no longer just bread and wine, but it is also the Real Presence of Our Lord Jesus Christ.

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