Coins of the Canadian dollar

There are six denominations of Canadian circulation coinage in production: 5¢, 10¢, 25¢, 50¢, $1, and $2. Officially they are each named according to their value (e.g. "10-cent piece"), but in practice only the 50-cent piece is known by that name. The three smallest coins are known by the traditional names "nickel" (5¢), "dime" (10¢), and "quarter" (25¢), and the one-dollar and two-dollar coins are called the "loonie" (for the loon depiction on the reverse) and the "toonie" (a portmanteau of "two" and "loonie") respectively. The production of the Canadian 1-cent piece (known as the "penny") was discontinued in 2012, as inflation had reduced its value significantly below the cost of production.

The 50¢ piece is far less circulated than other Canadian coins. Between the years 2000 and 2007 the Royal Canadian Mint struck less than 16 million of them; in comparison, during the same period over 2.25 billion quarters were released. This coin is sometimes called a "half-dollar".

Other than the $2 coin (for which there is no United States analog), the denominations of Canadian coinage correspond to those of United States coinage. The sizes of the coins other than the 50¢ piece are roughly equal to those of U.S. coins, though this was not always the case. They have a different metallic composition and most of them are thinner, and thus weigh slightly less, than the analogous U.S. coins. The U.S. penny settled on its current size in 1857, whereas the Canadian penny was much larger (25.4 mm (1.00 in)) until 1920. Because they are easily mistaken for each other and the difference in their official value is generally small, modest quantities of U.S. and Canadian coins circulate at par in the other country, particularly near their shared border. Their differing physical characteristics prevent them from being accepted interchangeably by most coin-operated machines.

There was formerly some correspondence between the size of Canadian coins and British coins of similar value. For example, the large Canadian penny was identical in size and value to the contemporary British half-penny, which was 25.4 mm (1.00 in) in the Edward VII version, and slightly larger during Victoria's reign. Likewise, the Canadian quarter (23.81 mm diameter) was virtually identical in size and value to the British shilling – worth 12 British pence or about 24 Canadian cents, with a 24-millimetre (¹⁵⁄₁₆ in) diameter. The Canadian 5¢ coins, until the larger nickel coins of 1922, were 15 mm silver coins quite different from the U.S. "Liberty head" nickels of 1883–1913, which were 21.2 mm and copper-nickel alloy, but more like the older U.S. half dimes.

The most significant recent developments in Canadian coinage were the introduction of $1 and $2 coins and the withdrawal of the one cent piece. The $1 coin (the "loonie") was released in 1987. The $1 banknote remained in issue and in circulation alongside the one dollar coin for the next two years, until it was withdrawn in 1989. The coin was to be the voyageur-design silver (then nickel) dollar coins that had previously been in limited circulation. The dies were lost or stolen in November 1986, requiring a redesign. The new coin 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, was introduced in 1996. It is usually called the "toonie" and is bimetallic. The $2 banknote was withdrawn at the same time that the coin was released. 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 Bank of Canada and the government forced the switch by removing the $1 and $2 bills from circulation.

Between 1997 and 2001, the $1 loon coin was not issued for general circulation. Due to the high demand for the $2 polar bear coin (mintages between 1997 and 2001 were as high as 29 million in 2000 alone), the $1 coin was only produced for the standard collector sets that were made available on an annual basis, such as the Uncirculated, O Canada, Specimen and Proof sets.

On March 29, 2012, the Canadian government announced that the 1¢ coin would be retired.[1] The Royal Canadian Mint stopped producing 1¢ coins in May 2012, and in February 2013 the Bank of Canada stopped distributing them, but the coins remain legal tender. Cash transactions are rounded to the nearest 5¢, while non-cash transactions (using cheques, credit cards, or debit cards) will continue to be rounded to the nearest 1¢.

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".

The Vancouver 2010 Winter Olympics commemorative quarters do not have the inscription "D.G. REGINA", and they read "CANADA ELIZABETH II", along with the date of issue and Ilanaaq, the emblem of the games.

Beginning in 1858, various colonies of British North America started issuing their own coins denominated in cents, featuring the likeness of Queen Victoria on the obverse. These replaced the sterling coins previously in circulation. The Province of Canada was the first to issue decimal coins. They were based on the value of the American dollar, due to an influx of American silver.[2] Denominations issued were 1¢, 5¢, 10¢, and 20¢. The 1¢ coin was issued again in 1859, but it was very unpopular due to its extremely light weight. The coins had to be discounted by around 20% to get them into circulation. Other colonies that issued decimal coinage were New Brunswick and Nova Scotia both starting in 1861, Newfoundland in 1865, and Prince Edward Island in 1871. Many examples can be seen online via the Canadian Currency Museum.[3]

In 1867, the British parliament passed The British North America Act, 1867 (now known as the Constitution Act, 1867), uniting the Province of Canada, Nova Scotia, and New Brunswick into a single country. Coins of the three former colonies continued to circulate until 1870, with all being legal tender throughout the country.[4] As other colonies subsequently entered confederation, they dropped their colonial coinage and adopted the national Canadian currency.

King George V coinage

Edward VII died in 1910 and was succeeded by his son, King George V. His effigy appeared on all coins minted in Canada afterwards, as soon as new dies were obtained.[5]

The initial issue of George V coinage is known as the "Godless" coinage, because the abbreviation "DEI GRA", (for "DEI GRATIA" or "[king] by the grace of God"), was omitted from King George V's titles. When the public noticed this, there was a huge outcry at this breach of tradition, and the phrase was later restored. All the coins from the 1¢ to 50¢ were issued. The 50¢ is the scarcest of all the coins minted in 1911 with a mintage of 209,972.[6] The Canadian Coin News publication printed an article showing a well-worn 1911 50¢ example that did have the "DEI GRA" abbreviation.[7] This coin has not yet been certified as genuine, having been rejected by ICCS, the popular Canadian grading company. The 1911 pattern dollar coin was produced with the 'DEI GRA' abbreviation on the two known silver examples and the one known example in lead.

Obverse of a 1917 Canadian 10-cent piece

In 1920, the fineness of the silver coins was changed from .925 fine silver to .800 fine silver, and the size of the cent was reduced.[4] In 1921, the last silver 5¢ coins were struck. These are extremely rare, numbering less than 400. These were replaced in 1922 by a larger nickel coin, copying an earlier change in the United States, and building on the fact that Canada was the world's leading source of nickel ore.[8]

There are a few scarce dates, especially the 1925 and the 1926. There are two types of the 1926: the "near 6" type, which has the tail of the 6 lower down and near to the maple leaf, and the rarer "far 6" type. The 1921 50¢ is also an extremely rare coin. It is the rarest of the King George V series.

The first Canadian silver $1 coin was issued as a commemorative coin in 1935 to commemorate King George V's Silver Jubilee. The portrait of the King on this coin was the same as that of the coins of several other countries. This coin also bears the famous coureur des bois design, which was designed by Emmanuel Hahn. This coin, and others issued since with this reverse design, have the affectionate nickname of "voyageur dollars".

King George VI coinage

George VI 5¢ coin of 1937

In late 1937, the tools and matrices finally arrived from London, so the issue of the new coins of the reign of King George VI was struck immediately. The coins' current designs date from this period. The coins were as follows:

• 1¢: A twig with two maple leaves (Designer: George Kruger-Gray)
• 5¢: A beaver sitting on a rock and log (Designer: George Kruger-Gray)
• 10¢: The famous Nova Scotian racing schooner Bluenose (Designer: Emmanuel Hahn)
• 25¢: A caribou's head (Designer: Emmanuel Hahn)
• 50¢: The Coat-of-Arms of Canada (Designer: George Kruger-Gray)
• $1: Voyageur (Designer: Emmanuel Hahn)

There was also a silver $1 that was issued in 1939 to commemorate the Royal Visit. The obverse has the usual portrait of George VI while the reverse depicts the Canadian Houses of Parliament in Ottawa. This was also designed by Emmanuel Hahn.

During World War II, the demand for nickel for the war effort was great enough for the 5¢ coin to be issued in tombac instead.

While all Canadian George VI coins remain legal tender, the nickels are the only remaining George VI coinage in any nation that have been neither demonetized nor effectively withdrawn from circulation due to precious metal content (or, in the case of the penny, been withdrawn from circulation).

Although the Mint has produced many special edition coins in recent years, Canada does have a history of such coins. From 1943 to 1945, the Mint issued the "Victory nickel" to promote the Canadian war effort. In 1951 a circulating commemorative coin, a 5 cent piece for the bicentennial of the discovery of the element nickel, was released. In 1967, all Canadian coins were issued with special reverses to celebrate the Canadian centennial. Six years later, a "Mountie quarter" was issued in 1973 to commemorate the centennial of the Royal Canadian Mounted Police.

In recent years, the Mint has issued several series of coins with special reverses. Most of them have been 25¢ coins, particularly in the years 1999–2001. There were also versions of the $2 coin commemorating the founding of Nunavut, and another with a family of polar bears; there have been several variants of the $1 coin, one of which featured the Canadian peacekeepers' monument in Ottawa to commemorate the award of the Nobel Peace Prize. A commemorative Terry Fox $1 coin began circulating on April 4, 2005.

On October 21, 2004, the Royal Canadian Mint unveiled a 25¢ poppy coin. This coin features a red poppy (Papaver rhoeas) that is coloured red, embedded in the centre of a maple leaf above a banner reading "Remember - Souvenir". It is the world's first coloured coin. While some countries' mints have produced colourized coins for market to collectors, this is the first colourized coin in general circulation in the world.[16]

The Mint states that, with normal wear and tear, the colour should remain for a number of years, although this claim was quickly disproved . The colouration compounds are attached to the metal on a specially prepared 'dimpled' section of the coin, and seem to come off easily if deliberately rubbed. The coin will retain its full value even if the red poppy has worn off or been removed; however it is now expected that fully coloured specimens will become collectible in the future.

In an isolated incident in the United States these coins were briefly reported as a possible 'spy tool' by some US Defense Contractors unfamiliar with the odd-seeming coin and raised espionage warnings until the situation was clarified.[17][18]

On May 4, 2005 the Mint unveiled a new "Victory nickel", reminiscent of the original issued during the Second World War. The new coin commemorated the 60th anniversary of the Allied victory in World War II. A mintage of 59,258,000 Victory nickels were produced and treated as regular circulation coins.[19]

In 2005, 25¢ and $5 coins commemorating the centennial of two of Canada's provinces were released: the coin for Alberta represents oil exploration in that province; the coin for Saskatchewan depicts a singing meadowlark and a grain elevator. Later the same year, the Mint later issued a Year Of The Veteran coin to honour military veterans, again in the 25¢ denomination. On February 21, 2007, the mint announced that they would be producing a 100-kilogram coin the size of a large pizza with a face value of $1 million. This new coin bears the highest face value in the world, using approximately $2 million of 99.999% pure bullion, and five were produced and sold to investors.[20][21]

• 
  The Alberta Centennial Coin
• 
  $1M 100 kg gold coin

Canadian coins have medallic orientation, like British or euro coins, and unlike U.S. coins, which have coin orientation.

Canadian coins
Image		Value	Technical parameters				Description			Common name	First minted	Discontinued	Withdrawal
Obverse	Reverse		Diameter	Thickness	Mass	Composition	Edge	Obverse	Reverse
		1¢	19.05 mm	1.45 mm	2.35 g	94% steel 1.5% nickel 4.5% copper plating	Plain (1920–1981, 1997–2012) 12-sided (1982–1996)	Queen Elizabeth II	Maple leaf	Penny (Cdn. Fr. sou, cent/cenne, cent/cenne noire)	1858	May 2012	February 4, 2013 In limited use
		5¢	21.2 mm	1.76 mm	3.95 g	94.5% steel 3.5% copper 2% nickel plating	Plain (1922–1942, 1963–present) 12-sided (1942–1962)	Queen Elizabeth II	Beaver	Nickel (Cdn. Fr. Cinq sous, cinq cents/cennes)	1858	Still produced	Still in use
		10¢	18.03 mm	1.22 mm	1.75 g	92% steel 5.5% copper 2.5% nickel plating	Milled		The Bluenose	Dime (Cdn. Fr. Dix sous, dix cents/cennes)	1858
		25¢	23.88 mm	1.58 mm	4.4 g	94% steel 3.8% copper 2.2% nickel plating			Caribou	Quarter (Cdn. Fr. Vingt-cinq sous, vingt-cinq cents/cennes)	1870
		50¢	27.13 mm	1.95 mm	6.9 g	93.15% steel 4.75% copper 2.1% nickel plating			Canadian coat of arms	50¢ piece, Half Dollar (Cdn. Fr. Cinquante sous, cinquante cents/cennes)	1870
		$1	32.15 mm	2.88 mm	15.62 g	99.9% nickel			Voyageurs in a canoe	Voyageur Dollar "Silver" Dollar	1968	1987	Replaced by the loonie in 1987. Obsolete but still legal tender. In limited use.
		$1	26.5 mm	1.75 mm	7 g	91.5% nickel 8.5% bronze plating   (88% copper, 12% tin)	Plain, eleven-sided	Queen Elizabeth II	Common loon	Loonie (Cdn. Fr. piastre, piasse, huard)	1987	2011	Still in use
					6.27 g	brass plated steel					2007	2011
									Common loon with security feature		2012	Still produced
		$2	28 mm	1.8 mm	7.3 g	Ring: 99% nickel Centre: 92% copper 6% aluminium 2% nickel	Intermittent milled/smooth	Queen Elizabeth II	Polar bear	Toonie	1996	2011	Still in use
					6.92 g	Ring: nickel plated steel Centre: aluminum bronze	Intermittent milled/smooth/edge lettered		Polar bear with 2 security features		2012	Still produced
These images are to scale at 2.5 pixels per millimetre. For table standards, see the coin specification table.

Several urban legends and other false information have circulated regarding Canadian coinage.

• The centre can pop out of a toonie. This is in fact true, but only for coins struck in 1996. Many toonies in the first shipment of the coins were defective, and could separate if struck hard or frozen, as the centre piece would shrink more than the outside. This problem was quickly corrected, and the initial wave of "toonie popping" blew over a few months after the coin's introduction.[22]
• The 50¢ piece is no longer minted and/or has been withdrawn from circulation. The 50¢ coin circulates so little that many people have never personally seen or handled one. Shop proprietors have been known to refuse to accept them as payment because they do not recognize them as Canadian currency. However, the RCM continues to produce the 50¢ coin annually for coin collections such as the Uncirculated, Specimen, and Proof Sets. Although the RCM does produce the coin in small numbers (in 2005, the mintage for the coins was 200,000, and the coins were not produced for circulation in 2003 and 2004);[23] most of them are purchased by coin collectors. The remainder go to banks, though most do not give them out unless the customer specifically requests so. Given enough notice, any bank should be able to obtain them in a significant quantity for their customers. The 50¢ coin is also commonly handed out as regular change at some Canada Post locations. An attempt at widening the circulation of the 50-cent piece was made in 2002 with the release of a specially designed coin marking the Golden Jubilee of Queen Elizabeth II, which was circulated through the Laura Secord Chocolates store chain in Canada.[24]
• The crown is wrong in the Queen's portrait. When the new coin portrait was first issued in 1990 (see above), a legend surfaced that the artist had simply added the image of a crown to a portrait of the Queen, and that she was never meant to be seen wearing that headgear. This is false; she posed personally for the portrait wearing one of her usual crowns.

1953 - (No Shoulder Fold vs. Shoulder Fold) The coronation of a new monarch meant a new effigy. Due to an issue with the portrait model for the new Queen Elizabeth, two obverse varieties, termed the No Shoulder Fold and the Shoulder Fold obverses were found in circulation during 1953. The portrait model was prepared in England by a sculptress, Mary Gillick. The relief of this model was too high. This affected the new effigy because the centre portion containing two lines on the shoulder (representing a fold in the Queen's gown) did not strike up well on the coins. This obverse had been termed the "No Shoulder Strap" variety by numismatists.

Later in 1953, Mint authorities decided to correct the defects in the obverse design. Thomas Shingles, the Chief Engraver of the RCM, was summoned to lower the relief of the model. The result was that he had strengthened the shoulder and hair detail. This revised obverse (often called "The Shoulder Strap" variety due to the resemblance of the lines to a strap) was introduced before the end of the year. This was accepted as the standard obverse. Unfortunately, the No Shoulder Fold obverse saw new life as it was used to produce some of the 1954 cents for the proof-like sets and a small quantity of 1955 cents for circulation. The 1955 No Shoulder Fold Variety is the most desired with collectors.

1965 - Starting in 1965, the effigy of Her Majesty the Queen underwent the first of three changes. This new obverse featured the Queen with more mature facial features. The wearing of a tiara was the other aspect of the new effigy.

1990 - A new obverse debuted with the Queen now wearing a diamond diadem and jewellery. Although the effigy changed in 2003, this portrait with diadem is still used on all Chinese Lunar New Year coins.

2003 - To commemorate the 50th Anniversary of the Coronation of Her Majesty the Queen, a new obverse was introduced. The unique feature of this effigy was that the Queen was now featured without headdress. This marked the first time that the effigy of a monarch did not wear headdress since Elizabeth's father, King George VI, a half-century earlier.

In an effort to build the brand, the Royal Canadian Mint implemented a policy in which all its circulation and collector coins would bear a new Mint Mark. Unveiled at the Canadian Numismatic Association convention in Niagara Falls, Ontario in July 2006, the Mint Mark was a reproduction of the Royal Canadian Mint logo.

The first circulation coin to bear the new Mint Mark was the 10th Anniversary $2 coin, illustrated by Tony Bianco. This meant that the "P" Mint Mark which recognized the plating technology would no longer be used. For collectors, the first collector coin to feature the new Mint Mark was the Snowbirds Coin and Stamp Set.

In the Charlton Standard Catalogue of Canadian Coins, the 1911 $1 coin is valued at $1,250,000. There are only 2 known specimens in sterling silver, and one specimen in lead. One of the silver specimens and the lead specimen are located at the Bank of Canada's currency museum, while the other is in a private collection. The rarity stems from the fact the federal government chose not to proceed with producing a "silver dollar" in 1911. The 1911 coin sets were originally planned to include the $1, but the sets came with an empty gap where the $1 coin was supposed to be. Canada didn't issue a $1 circulation coin until 1935, when it issued a circulating dollar commemorating George V's Silver Jubilee.

Among numismatists, the 1921 50-cent coin is considered the rarest Canadian circulation coin and is known as The King of Canadian coins. As of 2012 a 1921 50 cents in MS-65 condition is valued at $250,000 to $350,000. Despite a mintage of 206,398 coins, there was a very low demand for 50-cent coins in the 1920s. The belief is that most of the 50-cent coins from 1920 and 1921 were melted (amounting to approximately 480,392 coins). The reason for the melting was that new coins were needed for 1929 and if coins from 1920 and 1921 were released into circulation, people would suspect counterfeit coins. According to legend, only 50 of these coins still exist (with only 3 known in mint state), and most of those are from Specimen Sets that were sold to people who visited the RC Mint.

(Tombac 1943–1944) (Steel 1944–1945)

Reverse of the Victory nickel, as minted in 1945

The 5-cent piece underwent a design change for the first time since 1937 when the Beaver was first introduced. The new reverse featured a striking V design. In the interest of promoting the war effort, the famous V sign from Winston Churchill was adopted. Perhaps, the most unusual aspect of this coin was the Morse Code. The meaning was "We Win When We Work Willingly". The edges of the steel versions of the Victory nickel were known to rust.

Due to high demands for copper and zinc during the war effort, the use of Tombac was suspended. A new composition of steel with .0127 mm plating of nickel and .0003 mm plating of chromium became the norm. The plating process of these coins meant that strips had to be plated before blanks were punched out. The end result was that the edges of the blanks were unplated. Although the RCM returned to nickel after WWII, the Korean war effort resulted in the use of steel again in 1951. Some of the steel coins were later discovered to have only the nickel plating and had a grey rather than the usual "bluish" appearance. Until recently, this variety did not command a premium price from collectors, but the fact that some years are rarer than others has started to generate interest in this variety.

• Royal Canadian Mint, which produces Canada's coins