Toonie

Toonie
Canada
Value2.00 CAD
Mass6.92 g
Diameter28 mm
Thickness1.75 mm
EdgeIntermittent milled/smooth
Composition
  • 1996–2012
  • Outer ring: 99% Ni
  • Inner core: Aluminum bronze (92% Cu, 6% Al, 2% Ni)
  •  
  • 2012–present
  • Outer ring: Steel, nickel plating
  • Inner core: Aluminum bronze, brass plating
Years of minting1996–present
Catalog number-
Obverse
DesignElizabeth II, Queen of Canada
DesignerSusanna Blunt
Design date2003
Design discontinued2023
DesignCharles III, King of Canada
DesignerSteven Rosati
Design date2023
Reverse
DesignPolar bear in early summer on an ice floe
DesignerBrent Townsend
Design date1996
Design discontinued2012
DesignPolar bear in early summer on an ice floe
DesignerBrent Townsend
Design date2012

The toonie (also spelled twonie[1][2] or twoonie[3][4]), formally the Canadian two-dollar coin (French: pièce de 2 dollars canadiens, nicknamed deux piastres or deux piastres rond), was introduced on February 19, 1996, by Minister of Public Works Diane Marleau. As of 2023, it possesses the highest monetary value of any circulating Canadian coin. The toonie is a bi-metallic coin which on the reverse side bears an image of a polar bear by artist Brent Townsend. The obverse, since 2023, bear a portrait of King Charles III. It has the words CHARLES III / D.G. REX; before 2023, the words were in a typeface different to other Canadian coins.[5]

The coin is manufactured using a patented distinctive bi-metallic coin-locking mechanism.[6] The coins are estimated to last 20 years. The discontinued two-dollar bill was less expensive to manufacture but lasted only one year on average.[7]

On April 10, 2012, the Royal Canadian Mint (RCM) announced design changes to the loonie and toonie, which include new security features.[8][9]

Coins minted prior to 2012 consist of an aluminum bronze inner core with a pure nickel outer ring;[10] but in March–May 2012, the composition of the inner core switched to aluminum bronze coated with multi-ply plated brass, and the outer ring switched to steel coated with multi-ply plated nickel.[9] The weight dropped from 7.30 to 6.92 g, and the thickness changed from 1.8 to 1.75 mm. The Mint said that multi-ply plated steel technology, already used in Canada's smaller coinage, produces an electromagnetic signature that is harder to counterfeit than that of regular alloy coins; also, using steel provides cost savings and avoids fluctuations in the price or supply of nickel.[11][12]

  1. ^ International, Radio Canada (January 5, 2021). "Old Canadian banknotes lose legal tender status". RCI | English. Retrieved September 4, 2021.
  2. ^ "Toonie turns 20 years old". CBC. February 19, 2016. Retrieved November 27, 2022.
  3. ^ "Greater Sudbury to buy Ramsey Lake Island for a twoonie". CBC. February 24, 2015. Retrieved November 27, 2022.
  4. ^ Acres, Victoria (August 12, 2021). "'Twoonie Tuesdays' a hit in Rodney". thechronicle-online. Archived from the original on August 12, 2021. Retrieved November 27, 2022.
  5. ^ "A New Royal Era". Royal Canadian Mint. Retrieved January 7, 2024.
  6. ^ "Balance and composition – the 2-dollar coin". Royal Canadian Mint. Archived from the original on April 26, 2012. Retrieved November 27, 2022.
  7. ^ Fred Langan. "Canada's new coin a 'toonie'? By Fred Langan THE CHRISTIAN SCIENCE MONITOR - Tuesday, Feb. 20, 1996 | 11:59 a.m." Las Vegas Sun. Retrieved December 2, 2011.
  8. ^ Royal Canadian Mint. "The Loonie and Toonie have evolved". Royal Canadian Mint. Archived from the original on April 23, 2012. Retrieved November 27, 2022.
  9. ^ a b "The New $2 Coin". Royal Canadian Mint. Archived from the original on April 13, 2012. Retrieved April 21, 2012.
  10. ^ George S. Čuhaj; Thomas Michael (July 11, 2011). 2012 Standard Catalog of World Coins 2001 to Date. Krause Publications. p. 144. ISBN 978-1-4402-1575-9.[permanent dead link]
  11. ^ "Order Amending Part 2 of the Schedule to the Royal Canadian Mint Act". Canada Gazette. Government of Canada. Retrieved January 14, 2012.
  12. ^ "Material change in store for loonies, toonies". Montreal Gazette. Postmedia News. January 14, 2012.[permanent dead link]