Canadian Currency Coins

A Loonie (one dollar coin) and a Toonie (two dollar coin) The Royal Canadian Mint U.S. And Canadian Coins Are Similar. The Canadian penny has been made from copper-plated steel since 2000. The circulating Canadian nickel, dime, and quarter are all currently made from nickel-plated steel, although the dime was made of pure nickel from 1968 to 2000. Loonies and Toonies Canadian Dollar Coins U.S. And Canadian Coins Are Similar. The Canadian penny has been made from copper-plated steel since 2000. Circulating One Dollar and Two Dollar Coins. The Loonies and Toonies circulate in Canada as if things had always been. Eliminating the Penny.

1. Canadian Currency Exchange Rate
2. Canadian Currency Coins And Bills
3. Canadian Coins Worth Money
4. Canada Currency Coins

Do you know your loonies from your toonies? Being able to distinguish the coins and bills of Canada is among the first skills newcomers must acquire, as money is used in basic transactions, everyday. Although you will probably use your debit cards or credit cards more, knowing which Canadian coins and bills to use is basic knowledge you can’t do without.

Canadian coins

Did you know that all Canadian coins are made in Manitoba? The Royal Canadian Mint produces over 1 billion circulation coins every year at their high-tech plant in Winnipeg. Aside from this, it also mints coins for central banks, monetary authorities and other mints all over the world.

From left: Toonie $2, Loonie $1, Quarter 25¢, Dime 10¢, Nickel 5¢, Penny 1¢

Examining the coins, you will notice that inscribed on one face is the monarch’s effigy, which is a permanent fixture. On the reverse side are designs, usually featuring Canadian wildlife. The reverse side has changed through the years, reflecting the shifts in Canada’s diverse culture (to know more about the history of Canada’s coins, read about it at the Royal Canadian Mint’s website). The one dollar is known as a “loonie”, because of the image of the common loon on one side. And because of this, the two dollar coin became known as a “toonie” (as it is equivalent to two loonies). Other coins in current circulation include the 5¢ (nickel), 10¢ (dime), 25 ¢ (quarter), 50¢ (50¢ piece – limited circulation), and the 1¢ (penny) which ceased to be distributed in 2013. The penny is being phased out but is still considered legal tender.

Canadian bills

Canada has five bills or banknotes that are produced by the Bank of Canada. The denominations are five (blue), ten (purple), 20 (green), 50 (red) and 100 (brown) dollars. In November 2018, a new $10 bill was launched into circulation featuring Viola Desmond. You can see the new bill here.

Images shown with permission from the Bank of Canada

Canada’s newest batch of bank notes are made out of polymer, a material that is much more durable than cotton paper. This change benefits the environment, as the bills last longer and can even be recycled. The new polymer notes are hard to counterfeit as well since “the detailed metallic imagery carried in the transparent area of the notes makes for a one-of-a-kind currency” (Bank of Canada, benefits of polymer). This innovative spirit is carried out in the bills’ design, which features the country’s achievements at home, around the world and in space.

Canadian money is generally called Canadian Dollars (symbol: CAD). You will usually see it abbreviated as CAD, C$ (to distinguish it from other dollar-denominated currencies) or CDN. But however it is abbreviated, the Canadian Dollar is considered to be one of the most traded and accepted currencies in the world owing to the stable economy of the country.

Community Resources

Know more about Canada’s monetary policy at the Bank of Canada site.

The Government of Manitoba has a Financial Literacy Resource page for new immigrants that has links to consumer education information.

Quiz

Know your Canadian currency

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Canadian Currency Exchange Rate

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Canadian Currency Coins And Bills

1. Answered
2. Review

1. 1. Question

   • (a) Allowed according to rules or laws.
   • (b) The act of passing something (such as money, information, etc.) from person to person or place to place.
   • (c) To spread or place (something) over an area.
   Incorrect
2. Question 2 of 10

   2. Question

   • (a) Relating to or using new electronic devices and technology.
   • (b) Having a very clear picture and a wide screen.
   • (c) Operating quickly.
   Incorrect
3. Question 3 of 10

   3. Question

   • (a) A place where coins are counterfeited.
   • (b) A place where coins are stored
   • (c) A place where coins are made.
   Incorrect
4. Question 4 of 10

   4. Question

   • (a) To record information about something in a book.
   • (b) To write, print, mark, or engrave words onto something.
   • (c) To publicly or officially say that you support or approve of someone or something.
   Incorrect
5. Question 5 of 10

   5. Question

   • (a) A figure usually of a person or animal that is made from stone, metal, etc.
   • (b) Used to describe something that is a small copy of something larger.
   • (c) An image of a person.
   Incorrect
6. Question 6 of 10

   6. Question

   • (a) Money that the law allows people to use for paying debts.
   • (b) Something that is made to look like an exact copy of something else in order to trick people.
   • (c) The value that a particular coin or bill has.
   Incorrect
7. Question 7 of 10

   7. Question

   • (a) A special quality or trait that makes a thing or group different from others.
   • (b) The value that a particular coin or bill has.
   • (c) The money that a country uses.
   Incorrect
8. Question 8 of 10

   8. Question

   • (a) Capable of bending or being bent.
   • (b) Staying strong and in good condition over a long period of time.
   • (c) Able to be depended on.
   Incorrect
9. Question 9 of 10

   9. Question

   • (a) To make an exact copy of something in order to trick people.
   • (b) To go or spread from one person or place to another.
   • (c) To make something especially by using machines.
   Incorrect
10. Question 10 of 10

    10. Question

    • (a) Introducing or using new ideas or methods.
    • (b) To produce very large amounts of something usually by using machinery.
    • (c) Controlled by computers and able to do things that seem intelligent.
    Incorrect

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