Facts About Canadian Coins

Canadian money can be confusing to Americans. While some of the coins have the same names as their U.S. counterparts, the $1 Canadian coin is used frequently (unlike the $1 U.S. coin), and there is no equivalent to the $2 Canadian coin in the United States. Canadian coins are manufactured the same way as they are in every modern, industrialized country around the world.

Identification

Canadian coins come in 1-cent, 5-cent, 10-cent, 25-cent, 50-cent, 1-dollar and 2-dollar denominations. The coins of less than $1 dollar in value all have names that correspond to their U.S. equivalents (pennies, nickels, dimes, quarters and half-dollars). The $1-dollar coin is called a "loonie," and the $2-dollar coin is called a "toonie."

Features

Canadian coins are manufactured from dies. A sculpture of a large plaster model of the new design is created first. After it is cast in rubber, it is used to make a plastic or epoxy galvano. A lathe then converts the model into a steel master hub, which in turn is used to make the master die (which has the inverse of the coin face). The master die makes a working hub, which makes a working die. Every step of this process multiplies with the number of hubs or dies, so there are many working dies at the end of the process. Rolls of sheet metal are fed into a cutting press, stamping out blank slugs called planchets. The planchets and working dies come together when the planchet is struck with the image on the die, minting a new coin.

History

The Canadian $1 dollar banknote was withdrawn from circulation and replaced with the loonie in 1987. The $2 dollar banknote was replaced with the toonie in 1996.

Geography

All Canadian coins are made at the Royal Canadian Mint in Winnipeg, Manitoba. This facility makes coins not just for Canada but also accepts contracts to make coins for other countries. It is also the source of Canada's official and special commemorative coins.

Considerations

The Canadian Mint introduces special commemorative coins for general circulation, typically quarters. The 2004 "Remember" Red Poppy coin, with a red poppy placed in the center of the Canadian Maple Leaf. There have also been the centennial Alberta and Saskatchewan quarters and $5 coins, and the nostalgic reintroduction of the World War II era "Victory" nickel.

Resources

• Canadian Coin Reference Site