Today, Canada Loonie celebrate its 25th years anniversary, it was introduced into circulation on 30 June 1987. The "Loonie" name from the images of a common loon on the coin, a bird which is can easily be found in Canada. The Loonie were introduced as a cost-saving measure, before Loonie were introduced green and white paper one dollar bill wore out quickly, only lasted between nine and 12 months. The change to coin can help Canada government to save taxpayers money, $175 million to $250 million over 20 years.
To celebrate Loonie 25th years birthday, the Royal Canadian Mint has produced a $1 fine silver coin. This double-dated coin features a new loon design by Ontario artist Robert Ralph Carmichael, who designed the original Loonie. Centered around the number "25", two Common Loons swim majestically past one another, one admiring the Loonie's eventful journey over the past 25 years while the other looks to the future and the many adventures to come. Limited to a mintage of only 15,000 worldwide and retailing for $34.95 CAD, the coin also features a unique glass bead finish as its background. The coin will be available as of 16 July 2012.
"When it was first introduced, the one-dollar coin represented the most significant change to Canada's coinage system in over 50 years and the Mint proudly played a lead role in making it a reality," said Ian E. Bennett, President and CEO of the Royal Canadian Mint.
"Looking back on how the world has evolved over the past 25 years, the Loonie has endured as a true Canadian symbol."
At first, the loonie design show a voyageur, similar to what was on the previous silver-coloured dollar coin. The master dies were lost in transit to the Royal Canadian Mint in Winnipeg from Ottawa in November 1986. The Loonie were designed by Ontario wildlife artist Robert-Ralph Carmichael, whose initials appear near the bird's beak. Carmichael, who lives in Echo Bay near Sault Ste. Marie, Ont., said the original loon concept was actually a second-place contender years earlier.
This year, Loonie metal composition changed from nickel alloy to multi-plated steel, so the coins now are more than half a gram lighter and cheaper to produce. A lighter version of the toonie was also introduced. You can read about it here; New Canada coin 2012.
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