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Other George VI Coins

This article concerns Canadian coinage, the coinage of Canada. Modern Canadian coins are produced by the Royal Canadian Mint and denominated in Canadian dollars ($) or cents (¢). more...

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Denominations

There are seven denominations of Canadian coinage circulating: 1¢, 5¢, 10¢, 25¢, 50¢, $1, and $2. In everyday speech they are respectively called (in English) the penny, nickel, dime, quarter, fifty-cent piece or half-dollar, loonie, and toonie (or twoonie), although none of these names are official. The fifty-cent piece, though in circulation, is far less common to find than other coins. Except for the $2, these denominations correspond to those of United States coinage. The historical sizes of the coins less than 50¢ are identical to those of U.S. coins due to both nations using the Spanish dollar as the basis of their money. Modest quantities of U.S. coinage circulate in Canada at par, and some Canadian coins (generally those with value less than fifty cent) circulate in the United States as well, though recent changes to the appearance and composition of Canadian coinage have made acceptance of these coins by merchants in the United States less certain. This partial interchangeability led to some concern when the United States Mint decided that the new Sacagawea Dollar coin would have the same diameter and colouring as the Canadian $1 coin, the \"loonie\", although this proved to be a non-issue.

Introduction of $1 and $2 coins

The most significant recent developments in Canadian currency were the withdrawal of the $1 and $2 bills in 1987 and 1996, respectively, and their replacement with coins of new design. The $1 coin, first issued in 1987, is colloquially called the \"loonie,\" for the common loon on its reverse, and the name is frequently applied to the currency unit as well. It is made of nickel plated with aureate bronze. The $2 coin, carrying a polar bear, introduced in 1996, is called by analogy the \"toonie\" and is bimetallic. Unlike several U.S. attempts to introduce a dollar coin, the new coins were quickly accepted by the public, owing largely to the fact that the mint and government forced the switch by removing the $1 and $2 bills from circulation.

The Canadian government has occasionally considered the possibility of eliminating the 1¢ coin from circulation, though as of early 2007 no serious discussion has been undertaken about dropping the coin. Likewise, rumours that the government was considering a $5 coin to replace the bill have yet to be realized.

Production

Canadian coins are issued by the Royal Canadian Mint and struck at their facilities in Winnipeg. All special wording on commemorative coins appears in both of Canada's languages, English and French. All of the standard wording on the reverse sides of non-commemorative coins is identical in both languages. On the obverse sides, the name and title of the Canadian Monarch appear in an abbreviated-Latin circumscription. Currently, this reads \"ELIZABETH II D. G. REGINA.\" The initials stand for \"Dei Gratia;\" the entire phrase means \"Elizabeth II, by the Grace of God, Queen.\"