Monday, February 11, 2013

Loonie; Canada dollar coin

Do you know how Canada Loonie get its name? Loonie; Canada dollar coin were introduced in 1987, the gold coloured coin get its name from a common loon The Great Northern Loon (Gavia immer) or The Great Northern Diver. The name "diver" comes from the habit of catching fish while the birds swim along the surface calmly and then suddenly plunged into the water. The name "loon" is a reference to the bird's clumsiness on land, and is derived from Scandinavian words for lame, such as Icelandic "lĂșinn" and Swedish "lam". This diver is well known in Canada.

Canada Loonie

Elizabeth II

The coin reverse show images of a common loon with the word "CANADA" & "DOLLAR", mint year below by designer Robert-Ralph Carmichael. On the coin obverse show portrait of Queen Elizabeth II.

The design for the coins intended to be a "voyageur theme" similar to Canada previous one dollar coin. The master dies were lost during transit to the Royal Canadian Mint in Winnipeg. To avoid counterfeiting, a different design was used.

On 30 June 1987, the Loonie coin was released for circulation. The $1 note remained in issue and in circulation along with the coin for the next two years, until the note was finally withdrawn on 30 June 1989.

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 spring of 2012, the composition switched to multi-ply brass-plated steel.

On 15 March 2006, the Royal Canadian Mint secured the rights to the name "Loonie" for their one dollar coin.

The name Toonie for Canada two dollars coin came from a word combination of the number "two" and the loonie.

The New $1 Coin
New Loonie

Instead of traditional alloys, and like the new two-dollar circulation coins, Canada new one dollar circulation coins are manufactured using the same Multi-Ply Plated Steel technology found in our current 25-cent, 10-cent, 5-cent and 1-cent circulation coins This patented process covers a steel core with alternating layers of metals such as copper, nickel and brass. The resulting coins are more economical to produce, durable and secure.

While the new one-dollar circulation coin maintains the traditional "Loon" design, there is one visible change:

  • A single laser mark of a maple leaf positioned within a circle on the coin's reverse – i.e. around the Loon design. This laser mark is produced during the striking of the coins using a contrasting pattern micro-engraved on the coin die itself.

Diameter: 26.5mm
Edge Height: 1.95mm
Weight: 6.27g
Composition: Multi-ply brass plated steel