A coin was introduced in 1987 to replace the paper dollar in the interest of cutting costs!! The citizenry did not appreciate this, seen to be arbitrary, action by the government of the day led by Prime Minister Brian Mulroney. To protest the action, they began calling the $1.00 coin a LOONIE.
Two years later, in 1989, Canada stopped producing $1.00 paper bills ~~ if you have one, hang on to it.
The LOONIE is bronze and has a loon on the back and a portrait of Queen Elizabeth II on the front. The term has stuck and the coin is now a part of our Canadian heritage!!
Stan McCormack 2014 07 16. The $$$ “guys” may wish to click: