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Loonie
Canada
Value1 CAD
Mass6.27 g
Diameter26.5 mm
Thickness1.95 mm
EdgeEleven-sided, smooth, 7.5 mm
CompositionSteel, brass plating
Years of minting1987–present
Catalogue number–
Obverse
DesignElizabeth II, Queen of Canada
DesignerSusanna Blunt
Design date2003
Design discontinued2023
DesignCharles III, King of Canada
DesignerSteven Rosati
Design date2023
Reverse
DesignCommon loon in water
DesignerRobert-Ralph Carmichael[1]
Design date1987
DesignCommon loon in water
DesignerRobert-Ralph Carmichael
Design date2012

The loonie (French: huard), formally the Canadian one-dollar coin, is a gold-coloured Canadian coin that was introduced in 1987 and is produced by the Royal Canadian Mint at its facility in Winnipeg. The most prevalent versions of the coin show a common loon, a bird found throughout Canada, on the reverse and Queen Elizabeth II, the nation's head of state at the time of the coin's issue, on the obverse. Various commemorative and specimen-set editions of the coin with special designs replacing the loon on the reverse have been minted over the years. Beginning in December 2023, a new version featuring King Charles III entered circulation, to replace the version featuring Elizabeth II.

The coin's outline is an 11-sided Reuleaux polygon. Its diameter of 26.5 mm (1.04 in) and its 11-sidedness match that of the already-circulating Susan B. Anthony dollar in the United States, and its thickness of 1.95 mm (0.077 in) is a close match to the latter's 2.0 mm (0.079 in). Its gold colour differs from the silver-coloured Anthony dollar; however, the succeeding Sacagawea and presidential dollars match the loonie's overall hue. Other coins using a non-circular curve of constant width include the 7-sided British twenty pence and fifty pence coins (the latter of which has similar size and value to the loonie but is silver in colour).

After its introduction, the coin became a metonym for the Canadian dollar: media often discuss the rate at which the loonie is trading against other currencies.[2] The nickname loonie became so widely recognized that in 2006, the Royal Canadian Mint secured the rights to it.[3] When the Canadian two-dollar coin was introduced in 1996, it was in turn nicknamed the "toonie" (a portmanteau of "two" and "loonie").

Background

[edit]

Canada first minted a silver dollar coin in 1935 to celebrate the 25th anniversary of George V's reign as king.[4] The voyageur dollar, so named because it featured an Indigenous person and a French voyageur paddling a canoe on the reverse, was minted in silver until 1967, after which it was composed primarily of nickel.[5] The coins did not see wide circulation, mainly due to their size and weight; the nickel version weighed 15.6 grams (0.55 oz) and was 32.1 millimetres (1.26 in) in diameter,[6] and was itself smaller than the silver version.[7] By 1978, Canadian businesses, namely vending machine operators, and transit authorities were advocating for a one-dollar coin that circulated more easily.[8]

By 1982, the Royal Canadian Mint had begun work on a new composition for the dollar coin that it hoped would lead to increased circulation.[6] At the same time, vending machine operators and transit systems were lobbying the Government of Canada to replace the dollar banknotes with more widely circulating coins. A Commons committee recommended in 1985 that the dollar bill be eliminated despite a lack of evidence that Canadians would support the move.[9] The government argued that it would save between $175 million and $250 million over 20 years by switching from bills that had a lifespan of less than a year to coins that would last two decades.[10]

History

[edit]

The government announced on March 25, 1986, that the new dollar coin would be launched the following year as a replacement for the dollar bill, which would be phased out.[11] Two proposals for the coin were considered, one by INCO for the Nigold coin, and one by Sheritt Gordon Mines for an aureate bronze plated on pure nickel (aureate nickel) coin. The government selected the Sherritt Gordon Mines proposal as it was less costly and the innovative technology behind the coin could serve to demonstrate the Royal Canadian Mint's capabilities in the international coinage market.[8]

It was expected to cost $31.8 million to produce the first 300 million coins but, through seigniorage (the difference between the cost of production and the coin's value), expected to make up to $40 million a year on the coins. From the proceeds, a total of $60 million over five years was dedicated toward funding the 1988 Winter Olympics in Calgary.[12]

The failure of the Susan B. Anthony dollar coin in the United States had been considered and it was believed Americans refused to support the coin due to its similarity to their quarter coin and its lack of aesthetic appeal.[9] In announcing the new Canadian dollar coin, the government stated it would be the same overall size as the Susan B. Anthony coin – slightly larger than a quarter – to allow for compatibility with American manufactured vending machines but would be eleven-sided and gold-coloured.[11] The sample Canadian dollar was well received in test groups, with 80% of participants feeling its size, shape and colour made it more easily discernible from other coins.[8]

It was planned that the coin would continue using the voyageur theme reverse designed by Emanuel Hahn and an obverse effigy of Queen Elizabeth designed by Arnold Machine.[8] However, the master dies that had been struck in Ottawa were lost in transit en route to the Mint's facility at Winnipeg.[13] A Commons committee struck to investigate the loss discovered that the Mint had no documented procedures for transport of master dies and that it had shipped them via a local courier in a bid to save $43.50. It was also found to be the third time that the Mint had lost master dies within five years.[14] An internal review by the Royal Canadian Mint argued that while a policy existed to ship the obverse and reverse dies separately, the new coin dies were packaged separately but were part of the same shipment. The Mint also disagreed with the Royal Canadian Mounted Police's contention that the dies were simply lost in transit, believing instead that they were stolen.[15] The dies were never recovered.[13]

Fearing the possibility of counterfeiting, the government approved a new design for the reverse, replacing the voyageur with a Robert-Ralph Carmichael design of a common loon floating in water.[13] Carmichael's design had been submitted to the Royal Canadian Mint in 1978 and was chosen from the existing bank of designs maintained by the Mint.[8] In particular, the choice of the loon motif fit well with the other existing wildlife depictions used with the five-and twenty-five cent coins.[8] The Canadian Wildlife Federation provided strong approval of the design choice.[8]

The coin was immediately nicknamed the loonie across English Canada and became known as a huard, French for 'loon', in Quebec.[10] The loonie entered circulation on June 30, 1987, as 40 million coins were introduced into major cities across the country.[16] Over 800 million loonies had been struck by the coin's 20th anniversary.[17]

After a 21-month period in which the loonie and $1 note were produced concurrently with each other, the Bank of Canada ceased production of the dollar banknote. The final dollar bills were printed on June 30, 1989.[18] Initial support for the coin was mixed,[19] but withdrawing the banknote forced acceptance of the coin.[20]

The loonie has subsequently gained iconic status within Canada,[17] and is now regarded as a national symbol.[21] The term "loonie" has since become synonymous with the Canadian dollar itself.[22] The town of Echo Bay, Ontario, home of Robert-Ralph Carmichael, erected a large loonie monument in his honour in 1992 along the highway, similar to Sudbury's 'Big Nickel'.[23]

A year after the death of Elizabeth II, a new loonie featuring the image of Charles III designed by Steven Rosati was revealed on November 14, 2023. A small number of the coins entered circulation in December 2023.[24]

Lucky loonie

[edit]
The 2010 Olympic "lucky" loonie

Officials for the 2002 Salt Lake Winter Olympics invited the National Hockey League's ice making consultant, Dan Craig, to oversee the city's E Center arena, where the ice hockey tournament was being held. Craig invited a couple of members from the ice crew in his hometown of Edmonton to assist. One of them, Trent Evans, secretly placed a loonie at centre ice. He had originally placed a dime but added the loonie after the smaller coin quickly vanished as the ice surface was built up.[25] He placed the coins after realizing there was no target at centre ice for referees to aim for when dropping the puck for a faceoff. A thin yellow dot was painted on the ice surface over the coins, though the loonie was faintly visible to those who knew to look for it.[26]

Keeping the coin a secret, Evans told only a few people of its placement and swore them to secrecy. Among those told were the players of the men's and women's teams.[26] Both Canadian teams went on to win gold medals. Several members of the women's team kissed the spot where the coin was buried following their victory.[25] After the men won their final, the coin was dug up and given to Wayne Gretzky, the team's executive-director, who revealed the existence of the "lucky loonie" at a post-game press conference.[27]

The lucky loonie quickly became a piece of Canadian lore.[28] The original lucky loonie was donated to the Hockey Hall of Fame,[29] and Canadians have subsequently hidden loonies at several international competitions, including the 2008 Olympic Games and the 2010 IIHF World Championships.[30] Loonies were buried in the foundations of facilities built for the 2010 Winter Olympics in Vancouver.[31]

Capitalizing on the tradition, the Royal Canadian Mint has released a commemorative edition "lucky loonie" for each Olympic Games since 2004.[30]

Composition

[edit]

The weight of the coin was originally specified as 108 grains, equivalent to 6.998 grams.[32] The coin's diameter is 26.5 millimetres (1.04 in).[33]

When introduced, loonie coins were made of aureate, a bronze–electroplated nickel combination. Beginning in 2007, some loonie blanks also began to be produced with a cyanide-free brass plating process. In the second quarter of 2012, the composition switched to multi-ply brass-plated steel. As a result, the weight dropped from 7.00 to 6.27 grams.[34] This resulted in the 2012 loonie not being accepted in some vending machines.[35] The Toronto Parking Authority estimated that at about $345 per machine, it would cost about $1 million to upgrade almost 3,000 machines to accept the new coins. The Mint stated that multi-ply plated steel technology, already used in Canada's smaller coinage, produces an electromagnetic signature that is harder to counterfeit than that of regular alloy coins; also, using steel provides cost savings and avoids fluctuations in price or supply of nickel.[36]

On April 10, 2012, the Royal Canadian Mint announced design changes to the loonie and toonie, which include new security features.[37][38]

Commemorative editions

[edit]

Alongside the regular minting of the loonie with the standard image of the common loon on the coin's reverse, the Royal Canadian Mint has also released commemorative editions of the one-dollar coin for a variety of occasions. These coins have a circulation-grade finish and have been made available to the public in five-coin packs and in 25-coin rolls in addition to being released directly into circulation.

Commemorative editions of the Canadian $1 coin
Year Theme Artist Mintage Notes
1992 125th anniversary of Confederation[39] Rita Swanson 23,010,000 Showing children and the Parliament Building. The regular loon design was also minted that year bearing the double date "1867–1992".
1994 Remembrance design[40] RCM Staff 15,000,000 Image of the National War Memorial in Ottawa
1995 Peacekeeping Monument[40] J. K. Harman, Richard Henriquez, Gregory Henriquez, C. H. Oberlander, Susan Taylor 41,813,100 (see note) Included in 1995 loonie mintage
2004 Olympic lucky loonie[41] R.R. Carmichael 6,526,000[42] First lucky loonie. Released for the 2004 Summer Olympics held in Athens, Greece.
2005 Terry Fox Stan Witten 12,909,000[42] Fox is the first Canadian citizen to be featured on a circulated Canadian coin. There are versions that exist without grass on the reverse of the coin.[41]
2006 Olympic lucky loonie Jean-Luc Grondin 10,495,000[42] Second lucky loonie. Released for the 2006 Winter Olympics held in Turin, Italy.
2008 Olympic lucky loonie Jean-Luc Grondin 10,000,000 Third lucky loonie. Released for the 2008 Summer Olympics held in Beijing, China.
2009 Montreal Canadiens centennial Susanna Blunt 10,000,000[43] The coin features the Montreal Canadiens' "CH" logo and is double-dated 1909–2009.
2010 Olympic lucky loonie RCM Staff 11,000,000 Fourth lucky loonie. Released for the 2010 Winter Olympics held in Vancouver. Includes the 2010 Winter Olympics symbol ilanaaq, an inukshuk.
2010 Navy centennial Bonnie Ross 7,000,000[44] Features a Halifax-class frigate below anchor, a 1910 naval serviceman and a modern-day female naval officer.
2010 Saskatchewan Roughriders centennial Susanna Blunt 3,000,000[45] Features the Roughriders logo along with a stylized 100.
2011 Parks Canada centennial [46] Nolin BBDO Montreal[47] 5,000,000 Features stylized land, air and aquatic fauna, varieties of flora, as well as a symbolic park building and the silhouette of a hiker framed by a snow-capped mountain range.[47]
2012 Olympic lucky loonie Emily Damstra 5,000,000 Fifth lucky loonie. Released for the 2012 Summer Olympics held in London, United Kingdom. Features a common loon with its wings spread, the Olympic rings, and a laser-etched maple leaf.[48]
2012 100th Grey Cup RCM Staff 5,000,000[49] Features the Grey Cup with "100th Grey Cup" in English and French.
2014 Olympic lucky loonie Emily Damstra 5,000,000 Sixth lucky loonie. Released for the 2014 Winter Olympics held in Sochi, Russia. Features a common loon with its wings spread sitting on a lake, the Canadian Olympic team logo, and a laser-etched maple leaf. Same design as the 2012 version of the lucky loonie.[50]
2016 Women's right to vote Laurie McGaw 5,000,000 Features a woman casting a ballot with a girl to commemorate the 100th anniversary of women's suffrage in Canada.
2016 Olympic lucky loonie Derek Wicks 5,000,000 Seventh lucky loonie. Released for the 2016 Summer Olympics held in Rio de Janeiro, Brazil. Shows the image of a common loon on the water, poised for take-off with an arched body and outstretched wings, with a stylized maple leaf in the background.[51]
2017 Connecting a Nation Wesley Klassen 10,000,000 Commemorating the 150th anniversary of the Confederation of Canada. The design features the railroad and landmarks such as the Lions Gate Bridge, a prairie grain elevator, the CN Tower, Quebec City's Château Frontenac Hotel and an East Coast lighthouse. The theme of the coin is "Our Achievements".[52]
2017 Toronto Maple Leafs 100th anniversary Steven Rosati 5,150,000 The design features the Leafs logo, the double date "1917–2017", two hockey sticks crossed under a Canadian maple leaf, and a hockey puck between the words "Canada Dollar" written around the top of the coin.
2019 LGBT equality Joe Average 3,000,000[53] 50th anniversary of the 1969 decriminalization of homosexuality in Canada. Design features two overlapping human faces within a large circle, and the word "equality" in both French and English.[54] The design was issued both as a regular $1 coin and as a limited-edition $10 collector's coin in full colour.[55]
2020 75th anniversary of the signing of the Charter of the United Nations Joel Kimmel
  • 2,000,000 (colour)
  • 1,000,000 (regular)[56]
 In a nod to the UN logo, a world map within an olive branch wreath is paired with a maple leaf to symbolize Canada's commitment to the UN and its values.[57]
2021 125th anniversary of the Klondike Gold Rush Jori van der Linde
  • 2,000,000 (colour)
  • 1,000,000 (regular)[58]
 The coin features a rendition of the gold discovery that set off the Klondike Gold Rush. Under the shining sun, Keish ("Skookum" Jim Mason), Shaaw Tlàa (Kate Carmack), Kàa Goox (Dawson Charlie), all of whom were of Lingít and Tagish descent, and George Carmack can be seen panning for gold at the edge of Gàh Dek (Rabbit Creek / Bonanza Creek). The pictorial symbol for Ëdhä Dädhëchą (Moosehide Slide) is highlighted in red and white on coloured coins; it appears on the opposite side of the creek and represents the Tr'ondëk Hwëch'in and their deep, abiding connection to the land.[59]
2022 Celebrating Oscar Peterson Valentine De Landro
  • 2,000,000 (colour)
  • 1,000,000 (regular)[60][61]
 The coin features Peterson seated at a piano, playing his civil rights anthem "Hymn to Freedom", while musical notes and chord symbols from that piece also appear in the design. Coloured coins feature a purple background as a nod to Peterson's favourite colour.[62]
2022 175th anniversary of the birth of Alexander Graham Bell Christopher Gorey
  • 2,000,000 (colour)
  • 1,000,000 (regular)[63]
 The coin features a reproduction of Bell's signature, paired with a portrait of the inventor. He is accompanied schematic illustrations of the Silver Dart—the aircraft that achieved the first controlled, powered flight in Canada—and the record-setting HD-4 hydrofoil; both crafts made history on Bras d'Or Lake, represented by the waves that are highlighted in blue on the colourized coin.[64]
2023 Honouring Elsie MacGill Claire Watson
  • 2,000,000 (colour)
  • 1,000,000 (regular)[65]
 Featured on the coin is Elsie MacGill, the word Canada at the top, the word dollar at the bottom, and a Hawker Hurricane in the sky which appears in colour on select coins. On the obverse is Queen Elizabeth II and the dates "1952–2022" in honour of her reign.[66]
2024 150th anniversary of the birth of L. M. Montgomery Brenda Jones[67]
  • 2,000,000 (colour)
  • 1,000,000 (regular)[67]
 Portrait of Montgomery beside titular character Anne of Green Gables, an open portfolio, and an inkwell. The background of the coin features the landscape of Prince Edward Island, the setting of many of Montgomery's stories, which is coloured on select coins.[68]
2025 150th anniversary of the Supreme Court of Canada Silvia Pecota[69]
  • 2,000,000 (colour)
  • 1,000,000 (regular)[70]
 The Supreme Court of Canada building, with the text "SUPREME COURT OF CANADA" and "COUR SUPRÊME DU CANADA" on the left and right respectively. In the center, a navy blue emblem with white lettering "150" surrounded on the left by laurels. The emblem is also dated "1875 – 2025".[69]

Terry Fox loonie

[edit]

The Terry Fox Loonie was unveiled in 2005 and designed by Senior Engraver Stanley Witten.[71][72] The coin depicts the Canadian athlete, humanitarian, and cancer research activist Terry Fox.[73]

Following his design of the 2005 Terry Fox loonie, Witten told the Ottawa Citizen that "while sculpting the design, I wanted to capture Terry fighting the elements, running against the wind, towering over wind-bent trees on a lonely stretch of Canadian wilderness."[71]

Specimen set editions

[edit]

In 1997, 2002, and each year since 2004, the Royal Canadian Mint has issued a one-dollar coin that depicts a different and unique image of native Canadian animals on the coin's reverse.[74] These special loonies have limited mintages and are available only in the six-coin specimen sets.

The Big Loonie in Echo Bay, Ontario
Year Theme Artist Mintage
1997 10th anniversary of the loonie[74] Jean-Luc Grondin 97,595
2002 15th anniversary of the loonie[75] Dora de Pédery-Hunt 67,672
2004 Jack Miner Bird Sanctuary[76] Susan Taylor 46,493
2005 Tufted puffin[77] Mark Hobson 39,818
2006 Snowy owl[78] Glen Loates 39,935
2007 Trumpeter swan Kerri Burnett 40,000
2008 Common eider Mark Hobson 40,000
2009 Great blue heron Chris Jordison 40,000
2010 Northern harrier Arnold Nogy 35,000
2011 Great grey owl Arnold Nogy 35,000
2012 25th anniversary of the loonie Arnold Nogy 35,000
2013 Blue-winged teal Glen Loates 50,000
2014 Ferruginous hawk Trevor Tennant 50,000
2015 Blue jay Brent Townsend 30,000
2016 Tundra swan Glen Scrimshaw 30,000
2017 Snow goose Pierre Girard 30,000
2018 Burrowing owl Pierre Girard 30,000
2019 Pileated woodpecker Jean-Charles Daumas 30,000
2020 Black-footed ferret Caitlin Lindstrom-Milne 25,000
2021 Blanding's turtle Pierre Girard 30,000
2022 Swift fox Claude Thivierge 30,000
2023 Greater sage-grouse David Caesar 30,000
2024 Northern leopard frog Julius Csotonyi 30,000
2025 Monarch butterfly Julius Csotonyi 30,000

First strikes

[edit]
Year Theme Mintage
2005 Common loon 1,944
2005 Terry Fox[41] 19,949
2006 Lucky Loonie 20,010
2006 With new Mint mark 5,000
2023 King Charles III obverse [79] 15,000

References

[edit]
[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

Loonie

View on Grokipedia
from Grokipedia
The loonie is the informal name for the Canadian one-dollar circulation coin, a gold-coloured piece introduced by the Royal Canadian Mint in 1987 to replace the short-lived one-dollar banknote as a cost-saving measure due to the bills' rapid wear. The coin derives its nickname from the (Gavia immer), a water bird native to , depicted swimming on the reverse side in a design created by wildlife artist Robert-Ralph Carmichael, selected from a public competition amid initial proposals for other motifs like a voyageurs canoe. The obverse features an effigy of the reigning sovereign—Queen Elizabeth II until 2023, succeeded by King Charles III—ensuring continuity with Canadian numismatic tradition. Composed of a brass core electroplated with a nickel alloy for its distinctive aureate appearance and durability, the loonie measures 26.5 millimetres in diameter and weighs 7 grams, facilitating its widespread use in vending machines, public transit, and everyday transactions while reducing long-term production costs compared to paper currency. Its introduction marked a shift toward higher-denomination coins in Canada, followed by the two-dollar "toonie" in 1996, and it has inspired commemorative variants honouring events like the Terry Fox run and national milestones. Beyond circulation, the loonie holds cultural resonance as a symbol of Canadian identity, notably in the "lucky loonie" ritual where a specially minted coin is embedded beneath the centre ice at Olympic hockey venues hosted by Canada, purportedly bringing good fortune to the national teams—a tradition that gained prominence during the 2002 Winter Olympics in Salt Lake City and has been repeated at subsequent Games. In financial markets, "loonie" also colloquially denotes the Canadian dollar currency pair against the U.S. dollar, reflecting its iconic status.

Overview

Definition and Etymology

The loonie is the colloquial name for the Canadian one-dollar , a gold-coloured circulation coin issued by the Royal Canadian Mint since its introduction on June 30, 1987, to replace the deteriorating one-dollar banknote. The coin's obverse bears the effigy of Queen Elizabeth II, while the reverse prominently displays a (Gavia immer) swimming on water, designed by Canadian artist Robert-Ralph Carmichael. This denomination holds a value of CAD $1 and remains in active production for general circulation. The term "loonie" originated immediately following the coin's release, derived directly from the loon bird illustrated on its reverse side, symbolizing Canada's wilderness and aquatic heritage. The nickname gained rapid popularity among Canadians and quickly supplanted the formal designation in everyday usage, with no single individual credited for coining it. In French, the coin is known as huard, reflecting the bird's alternative name in . This informal appellation underscores the coin's cultural resonance, paralleling other vernacular coin names like the "" for the two-dollar piece.

Introduction and Purpose

The loonie refers to the Canadian one-dollar circulation coin, introduced on June 30, 1987, by the to replace the paper one-dollar banknote. This shift addressed the high costs associated with frequent printing and replacement of paper notes, which deteriorated rapidly in everyday use, whereas coins offer greater durability and longevity in circulation. The introduction of the loonie marked a deliberate move toward cost efficiency in Canada's , with projections indicating substantial savings over time due to reduced replacement needs. The coin's distinctive aureate color and eleven-sided shape facilitated easy identification and compatibility, enhancing its practical purpose beyond mere denomination replacement. While the "loonie" derives from the depicted on its reverse, the coin's core function remains as a robust, low-maintenance integral to daily transactions.

Historical Development

Predecessor and Rationale for Replacement

The Canadian one-dollar banknote, introduced by the Bank of Canada in 1935 as the standard circulating denomination for the dollar value, served as the primary predecessor to the loonie. This paper note, featuring portraits such as those of Sir John A. Macdonald and later Wilfrid Laurier, underwent frequent replacements due to wear and tear from high-volume handling in everyday transactions. The decision to replace the $1 banknote with a coin stemmed from economic efficiency considerations, as metal coins exhibit significantly greater durability than paper currency, thereby reducing long-term production and distribution costs for the government. The Royal Canadian Mint and Bank of Canada projected substantial savings from minting fewer replacement units; for instance, the transition yielded approximately $450 million CAD in net benefits over the first five years post-introduction, accounting for initial minting expenses offset by the extended circulation life of coins estimated at 20-30 years versus 9-18 months for bills. This rationale aligned with broader fiscal prudence amid rising inflation and operational expenses in the 1980s, prompting the federal government to authorize the coin's development without reliance on unverified public sentiment favoring paper. While earlier silver dollar coins had existed sporadically since 1935 for commemorative or hoarding purposes, they lacked the everyday utility of the banknote and were not the direct target of replacement.

Design Selection Process

The reverse design for Canada's new one-dollar circulation coin, introduced to replace the paper bill, was initially intended to feature a voyageur paddling a canoe with an Indigenous companion, echoing the motif of earlier silver coins. This design was created by staff engravers at the Royal Canadian Mint's facility. However, in February 1986, the master dies—essential templates for minting—were stolen during postal transport from to , where final approvals and working dies would be produced. The low-cost mailing decision, aimed at saving approximately $435 over courier service, exposed the shipment to theft, and despite investigations by the Royal Canadian Mounted Police, the dies were never recovered. Fearing widespread counterfeiting if the detailed voyageur design became public knowledge through prototypes or leaks, Mint officials abandoned it in favor of a pre-existing alternative to expedite production. The selected replacement, portraying a common loon (Gavia immer) swimming on a northern lake amid reflections of coniferous trees and an island, was designed by Sudbury-based wildlife artist Robert-Ralph Carmichael. Submitted unsolicited to the Mint's design archives in 1978, Carmichael's artwork was adapted by Mint engravers for coin production, retaining its essential elements while ensuring suitability for striking on the coin's aureate bronze-plated core. No public competition or advisory committee process was employed for the loon selection; instead, the choice prioritized rapid implementation from the Mint's internal repository of over 500 wildlife-themed submissions to meet the timeline for the coin's June 30, 1987, circulation debut. The obverse retained the standard effigy of Queen Elizabeth II designed by , introduced on Canadian coins in 1965. This expedited process ensured the coin's launch without delay, despite the security breach, and the loon's iconic status emerged organically post-release.

Launch and Early Circulation

The Canadian one-dollar coin, featuring a on its reverse, was unveiled by the Royal Canadian Mint on May 7, 1987, at its facility, marking the culmination of a process aimed at replacing the fragile paper dollar bill. This introduction addressed the short lifespan of the $1 note, which averaged less than in circulation due to from frequent handling in vending machines and retail transactions, prompting the government to seek a more durable alternative estimated to last over 20 years. The coin officially launched and entered nationwide circulation on June 30, 1987, just before , with initial distribution handled through banks and financial institutions to facilitate gradual adoption. Its distinctive gold-colored aureate bronze and 11-sided distinguished it from other denominations, aiding quick recognition and reducing counterfeiting risks from the outset. Public reception was swift, with the nickname "loonie" emerging almost immediately in media and everyday use, derived directly from the depicted on the reverse designed by Robert-Ralph Carmichael. Early circulation proceeded smoothly, supported by the Royal Canadian Mint's production ramp-up at facilities in and , though some initial skepticism arose regarding the coin's bulkiness compared to the lightweight bill, which critics informally dubbed a "loonie" idea for pockets and purses. By mid-1988, the Bank of Canada announced the end of $1 note distribution to accelerate the transition, with full withdrawal from circulation completed by 1989 as coins proved more cost-effective over time, saving millions in annual printing and replacement expenses. Vending machine operators and retailers adapted rapidly, citing the coin's reliability in automated systems, which had previously jammed with worn bills, fostering widespread acceptance within the first year.

Physical Specifications

Composition and Materials

The Canadian one-dollar coin, known as the loonie, was originally composed of 91.5% with an 8.5% plating applied to achieve its characteristic golden hue. This aureate outer layer, consisting primarily of alloys, provided resistance and aesthetic appeal while the core ensured durability. In , the Royal Canadian Mint transitioned to a multi-ply plated composition using patented technology, featuring a core plated with to maintain the coin's appearance and reduce production costs. This change resulted in a lighter weight of 6.27 grams compared to the original 7 grams, with the base enhancing magnetic properties for compatibility and extending lifespan through improved resistance to wear. The plating remained essential for the coin's visual consistency with earlier issues.

Dimensions and Security Features

The Canadian one-dollar coin, known as the loonie, has a of 26.5 mm, a thickness of 1.95 mm, and weighs 6.27 grams. Its edge is plain and smooth, facilitating easy handling and compatibility. In 2012, the Royal Canadian Mint updated the loonie's composition to multi-ply brass-plated , maintaining the same weight and dimensions while improving durability and introducing inherent anti-counterfeiting properties through the patented layering technology, which is difficult to replicate accurately. This change addressed rising production costs and enhanced longevity in circulation, with the core providing magnetic detectability absent in earlier aureate bronze-nickel versions. Security features were further bolstered in with the addition of a laser-etched micro-engraving positioned above the on the reverse side; this feature includes fine radial lines and micro-text visible only under , serving as a verifiable authenticity marker for sorting machines and inspectors. The integration of these elements, combined with the material's resistance to wear and tampering, has reduced counterfeiting incidents, as confirmed by Mint production data post-implementation.

Special Editions and Variants

Lucky Loonie Tradition

The Lucky Loonie tradition originated during the in , where Canadian icemaker Trent Evans placed a loonie under the center ice of the hockey venue after initially embedding a dime, aiming to bring good fortune to the Canadian teams. Both the Canadian men's and women's hockey teams subsequently won medals, leading participants to credit the coin for their success and sparking the legend. The original loonie was later donated to the . Following this event, the Royal Canadian Mint began producing special commemorative Lucky Loonies for subsequent Olympic and , starting with the 2004 Athens Summer Olympics, to distribute among Canadian athletes as a symbol of good luck. For the in , loonies were buried in the foundations of competition venues, continuing the embedding practice from . In non-ice events, such as the 2016 Rio Summer Olympics, the Mint produced five million such coins, providing one to each Canadian athlete upon arrival. The tradition has extended beyond hockey and Olympics to other Canadian sports, including curling—where a Lucky Loonie contributed to the men's team's first Olympic gold in 2006—and alpine skiing, with skier Jan Hudec burying one at the finish line during the 2014 Sochi Games. While rooted in superstition, the practice has become embedded in Canadian sports culture, with the Mint issuing themed designs featuring Olympic logos or motifs alongside the standard loon imagery.

Terry Fox Commemorative

The Royal Canadian Mint issued a special circulating one-dollar coin in 2005 to commemorate the 25th anniversary of Terry Fox's Marathon of Hope, marking the first time a Canadian individual was depicted on a commemorative circulation coin. The coin was unveiled on March 14, 2005, in Vancouver, British Columbia, with proceeds from special editions supporting the Terry Fox Foundation's cancer research initiatives. Fox, who began his prosthetic-legged run across Canada on April 12, 1980, to raise awareness and funds for cancer research after his 1977 diagnosis of osteosarcoma, covered 5,373 kilometres before his cancer recurred, leading to his death on June 28, 1981, at age 22. The reverse design, engraved by Stan Witten, portrays Fox mid-stride in his run, accompanied by the inscription "CANADA DOLLAR" above and " 1958-1981" below, denoting his birth and death years. The obverse retained the standard of Queen Elizabeth II facing right, designed by Susanna Blunt, with the date "2005" positioned below. Composed of the same aureate bronze-plated exterior over a copper-nickel core as standard loonies, the coin measured 26.5 mm in diameter and weighed 7 grams, entering general circulation alongside regular issues. Minted at the Royal Canadian Mint's Winnipeg facility, the loonie achieved widespread distribution, with uncirculated rolls of 25 coins available through financial institutions, reflecting its role in both everyday transactions and numismatic interest tied to Fox's enduring legacy of inspiring annual runs that have raised over $850 million for by 2025. While not a limited-edition proof, its thematic significance has elevated circulated examples in collector markets, often valued above face for condition and historical resonance.

Other Commemorative and Specimen Issues

In addition to the Lucky Loonie and Terry Fox series, the Royal Canadian Mint has produced limited circulation commemorative one-dollar coins featuring alternative reverse designs. The 1994 issue depicts the National War Memorial in , originally constructed to commemorate Canadian sacrifices in the First World War and rededicated in 1982 to include those from the Second World War and subsequent conflicts. This design honors broader remembrance themes without specifying a singular anniversary. The 1995 Peacekeeping coin portrays the Peacekeeping Monument in , erected to recognize Canada's longstanding role in missions, including the 10th anniversary of operations in among other efforts. This reverse replaces the standard loon imagery and was struck for general circulation alongside regular loonies. Specimen issues consist of premium-finish coins produced for annual collector sets, featuring enhanced strikes with matte fields and frosted devices for display purposes rather than everyday use. These sets periodically incorporate unique loonie reverses, such as the 2012 25th anniversary edition celebrating the coin's introduction with stylized motifs emphasizing its cultural symbolism. Recent examples include conservation-themed designs: the 2024 Northern Leopard Frog reverse highlighting amphibian habitats and the 2025 depicting migratory patterns to raise awareness of threats. Such specimen variants maintain the coin's aureate composition but prioritize numismatic appeal over mass distribution.

Economic and Practical Impacts

Cost Savings and Durability Advantages

The loonie was introduced on June 30, 1987, by the Royal Canadian Mint as a replacement for the one-dollar to achieve long-term cost reductions in production and circulation. Prior to this, the faced annual replacement costs of approximately $16.6 million for worn-out dollar bills, driven by their short average lifespan of about 12 months. The metallic construction of the loonie, composed of aureate bronze, offers superior resistance to everyday wear, tearing, soiling, and environmental degradation compared to paper , enabling it to remain in circulation for decades rather than months. This enhanced durability translates to fewer minting cycles, lower material and labor expenses, and reduced logistical demands for secure transportation and storage. Unlike bills, which required frequent reprinting using specialized and inks, the loonie's robustness minimizes waste and operational overhead, with the Mint reporting that the coin's inherently supports extended use without compromising integrity. Empirical observations post-introduction confirmed that coins withstand high-volume handling in vending machines, , and retail environments far better than their paper predecessors, avoiding the rapid attrition that plagued bills. The policy shift yielded immediate fiscal benefits by phasing out bill production through attrition—allowing existing notes to wear out without replacement—while generating ongoing profits from the difference between production costs (around 30 cents per coin) and . Over the first 25 years, this approach contributed to hundreds of millions in net savings for the , as the loonie's amplified the value captured from each minted unit.

Circulation Patterns and Usage

The loonie, introduced into general circulation on June 30, 1987, rapidly supplanted the one-dollar banknote, driven by demands from vending machine operators and transit systems for a more durable medium that reduced handling costs and wear from frequent use. The Royal Canadian Mint has since minted hundreds of millions of units annually to sustain supply, with reported figures including 120,330,000 in 2013 alone, reflecting steady demand despite fluctuations tied to economic activity and payment trends. In daily usage, the loonie facilitates small-value transactions under $5, where predominates, including retail purchases, automated vending for snacks and beverages, parking meters, coin-operated , and collection in public transit kiosks. Its eleven-sided and bronze-plated composition enhance stackability and machine readability, originally designed for compatibility with U.S.-manufactured prevalent in at launch. High-velocity environments like these promote rapid recirculation, with coins enduring far longer than paper equivalents—often decades—before demonetization due to damage. Circulation patterns have evolved amid rising digital payments, with overall coin demand rebounding to 70% of 2019 levels by 2023 after pandemic lows, supported by the Mint's real-time management of inventory through redistribution of dormant holdings from bank vaults and retailers. This strategy has curbed net new production needs by about 300 million coins annually across denominations, yielding Canada's globally lowest coin-per-capita ratio while preserving accessibility for cash-reliant groups, including 56% of the population that uses cash regularly per 2023 surveys, particularly in rural, Indigenous, and low-income demographics. Material updates, such as the shift to lighter multi-ply plated alloys for cost efficiency, occasionally disrupted patterns by necessitating recalibration of legacy vending and devices, though adoption stabilized as machines were upgraded. The loonie's role remains integral to exact-change scenarios, complementing the two-dollar "" in minimizing bill usage and supporting where electronic options falter, such as in areas or for privacy-focused transactions.

Reception and Cultural Significance

Public Adoption and Nickname Origin

The Canadian one-dollar coin was introduced into general circulation on June 30, 1987, as a replacement for the one-dollar banknote to reduce printing and replacement costs associated with paper currency. Featuring a design by wildlife artist Robert-Ralph Carmichael depicting a solitary (Gavia immer) on the reverse side, the coin was almost immediately nicknamed the "loonie" by , a term derived directly from the bird's image and its colloquial name in . This nickname emerged organically among the public upon the coin's debut, reflecting the distinctive and iconic avian motif that set it apart from previous dollar coins like the silver . Public adoption proceeded rapidly despite initial reservations about the shift from bills to coins, with 80 million loonies distributed across major Canadian cities in the first phase of rollout. By the end of , production had ramped up significantly to meet demand, underscoring the coin's quick integration into everyday transactions. The loonie's bronze-plated exterior and practical size facilitated its use in vending machines and coin-operated devices, contributing to widespread acceptance; within years, it supplanted the paper dollar entirely, with the ceasing bill production. The enduring popularity of the "loonie" moniker, now officially recognized in financial contexts, highlights how the coin's design fostered a unique cultural affinity, evolving from novelty to .

Role in Canadian Identity

The loonie, featuring the (Gavia immer) on its reverse, symbolizes Canada's vast northern wilderness and aquatic ecosystems, as the bird's distinctive calls and solitary habits evoke the tranquility of remote lakes where Canada sustains roughly 95% of the global breeding population. Introduced by the Royal Canadian Mint on June 30, 1987, the coin's design by artist Robert-Ralph Carmichael rapidly embedded this natural icon into daily transactions, fostering a sense of national distinctiveness amid economic integration with the . The loon's cultural resonance extends to Indigenous traditions, where it represents spiritual guidance, grace, and serenity, linking the currency to pre-colonial heritage and reinforcing ties to the land's indigenous . Public affection for the "loonie," derived from the bird's , has permeated financial media, where the serves as a metonym for the Canadian dollar's value, as in discussions of its fluctuations. This underscores a uniquely Canadian blend of practicality and whimsy, evolving from initial skepticism to emblematic pride by the coin's 30th anniversary in 2017. In broader symbolism, the emerged as the leading candidate in a public poll for Canada's national bird, outpacing other species and highlighting its role in evoking national environmental identity, though the gray jay ultimately prevailed. The coin's enduring circulation, despite digital payment trends, perpetuates this identity, appearing on merchandise, monuments like the oversized loonie in Echo Bay, Ontario, and as a recognizable marker of in international contexts.

Controversies and Criticisms

Initial Public Resistance

The Canadian one-dollar coin, known as the loonie, entered circulation on June 30, 1987, replacing the short-lived $1 banknote and immediately encountering public resistance centered on its perceived inconvenience compared to paper currency. Many Canadians voiced dissatisfaction with the shift, citing familiarity with the lightweight bill and reluctance to carry additional metal change, particularly those accustomed to U.S. dollar bills during cross-border travel. Alberta resident Marcel Barry exemplified this sentiment, stating he disliked the coin because it filled pockets with "change" rather than bills, preferring to retain the paper version. Further opposition arose from the loonie's size and weight, which some viewed as bulky and cumbersome for everyday use, leading to complaints about jingling in pockets and wallets. The Royal Canadian Mint, responsible for championing the coin's adoption, addressed this initial resistance through promotional efforts, though the transition faced skepticism from those who saw the replacement as a "loonie proposition"—a play on words implying an impractical idea. Vending machine operators also resisted, highlighting the added expense of retrofitting equipment to accept the new 11-sided, aureate-bronze coin, which differed from existing mechanisms designed for bills or quarters. Despite these concerns, the Mint's strategy emphasized long-term cost savings from the coin's —expected to last 20-30 years versus the bill's one-year lifespan—gradually mitigating pushback as circulation expanded to over 200 million units by year's end. Public opinion divided along practical lines, with transit operators welcoming the change for streamlined fare collection, while retailers and consumers initially hesitated, contributing to a uneven rollout in major cities.

Design and Political Commemoratives Disputes

The selection of the loonie's reverse design, featuring a , stemmed from a reported security lapse during the coin's development in 1986. The Royal Canadian Mint initially planned to revive the voyageur motif from earlier silver dollar coins, depicting a with a voyageur paddler and an Indigenous guide, to evoke Canadian heritage while adapting the coin's composition to bronze-plated for durability and compatibility. However, on November 3, 1986, the master dies for this design were shipped via an inexpensive local courier service costing $43.50, rather than a secure armored transport, and were reported missing on after failing to arrive at their destination outside ; the package had been sealed together in violation of protocol, heightening risks of counterfeiting if compromised. To avert potential exploitation, the Mint hastily adopted an alternative design—a loon on a lake by engraver Robert-Ralph Carmichael, which was already prepared as a contingency—leading to the coin's debut on June 30, 1987, without public disclosure of the incident at the time. While no formal disputes arose over the final loon imagery itself, the episode highlighted internal operational vulnerabilities at the Mint, with the stolen dies never recovered and the cost-saving decision later scrutinized in retrospective accounts for nearly derailing the project. Commemorative editions of the loonie have occasionally sparked political contention, particularly the 2019 "Equality" issue marking the 50th anniversary of the 1969 amendments that decriminalized homosexual acts between consenting adults. Released on April 23, 2019, the coin's reverse portrayed two male figures in silhouette against a rising sun, intended by the Royal Canadian Mint to symbolize progress toward equality; over 700 million were minted for circulation. Conservative groups, including the U.S.-based , condemned it as state endorsement of a "homosexual agenda," launching a that amassed nearly 55,000 signatures urging its withdrawal, arguing it prioritized over national unity. Within LGBTQ communities, critics contended the design sanitized historical persecution by emphasizing alone, overlooking systemic , the role of broader , or intersections with race and issues, with some advocates like Schiavo of Egale labeling it a superficial gesture amid ongoing legal battles over bans. The Mint defended the coin as a factual historical , but the backlash underscored tensions in selecting politically charged themes for circulating currency, with coverage reflecting institutional preferences for progressive narratives while underreporting conservative critiques. No similar level of dispute has attended other loonie commemoratives, such as those for the Olympics or , which focused on non-partisan events or figures.

Fiscal Implications and Seigniorage Effects

The replacement of the Canadian $1 paper bill with the loonie coin in 1987 was primarily motivated by fiscal considerations, as bills typically lasted only about one year in circulation, necessitating frequent reprints at significant cost, whereas coins were projected to endure 20 to 30 years, substantially reducing long-term production and distribution expenses. The Royal Canadian Mint estimated pre-introduction savings of $175 million to $250 million over the coins' lifespan due to this durability differential, avoiding the annual replacement of billions of bills. Seigniorage effects amplified these savings, defined as the profit from issuing currency—the difference between its and production costs. For the loonie, the Mint manufactures coins at approximately 20-30 cents each (varying with metal prices and volume) and transfers them to the government at face value, yielding immediate revenue of 70-80 cents per , which accrues to the federal treasury without redemption since surplus coins are not melted or returned. Unlike banknotes, where seigniorage derives from interest on backing assets minus ongoing replacement costs, coin seigniorage is realized upfront and sustained by low attrition rates. Cumulative fiscal benefits have exceeded initial projections, with the Mint reporting $450 million in total generated from the $1 coin program through reduced note production and coin efficiencies as of 2011 testimony to U.S. congressional committees. This revenue stream supports government operations, though some analyses suggest indirect effects, such as potentially higher cash holdings due to coins' bulkiness, could enhance by increasing overall currency demand—though empirical evidence for this in remains anecdotal rather than quantified in official audits. Over 25 years post-introduction (to 2012), assuming consistent 30-cent production costs, loonie alone contributed at least $210 million net to fiscal coffers beyond baseline note revenues.

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