Time flies, especially when you’re spending money. Try to believe it was on this day 20 year ago the first Canadian two-dollar coin was launched into circulation Since then the durable two-tone deuce doubloon has become a valued friend to Canadians in need of metre-money or a main-lined solo-long espresso. Almost 883 million of the coins have entered circulation The toonie features the image of a polar bear on one side, and like all other current Canadian circulation coins, has a portrait of Queen Elizabeth II on the other.
TOONIES LAST 20 YEARS
The discontinued two-dollar bill was less expensive to manufacture, but each bill lasted on average only one year. Toonies, on the other hand, are durable as the deuce (sorry). They last 20 years. The introduction of the toonie followed the successful introduction of the $1 loonie coin in 1987. That coin must be counted as an enduring success.
COMMON LOON
The loonie’s rather embarrassing beginning is disappearing into history. It was first intended to carry the image of a Canadian voyageur but the original plates were lost in transit. Not to encourage counterfeiters, the Canadian Mint just moved on to a picture of the common loon. It seems to have worked. The Mint abandoned plans for a possible $5 coin to replace the $5 bill a decade ago, after a government-commissioned poll found almost no support for such a move, despite the savings to be had.
