Toonie turns 20 years old - Action News
Home WebMail Saturday, November 23, 2024, 03:31 AM | Calgary | -11.7°C | Regions Advertise Login | Our platform is in maintenance mode. Some URLs may not be available. |
BusinessPhotos

Toonie turns 20 years old

Hard to believe, but it's been 20 years since Canada's $2 bill was permanently retired and the metallic coin known as the toonie came into circulation.

In 1996, Jean Chretien was PM, the Macarena dominated dance floors and the $2 coin was born

According to the Royal Canadian Mint, more than 880 million toonies have been produced since 1996. The coins are manufactured in Winnipeg. (Pawel Dwulit/Bloomberg News)

Hard to believe, but it's been 20 years since Canada's $2 bill was permanently retired and the metallic coin known as the toonie was born.

The two-tonedcoin, featuring apolar bear on one side and a portrait of Queen Elizabethon the other, went into circulation on Feb. 19, 1996. Leading up to its launch, there was much debate over what the new $2 coin should be called.The "bearie," the "toonie" (or "twonie") and the "double loonie" were among the contenders.

According to the Royal Canadian Mint, 375 million toonies were produced that first year.

Having trouble recallingwhat you were doing during the year of the toonie? Perhaps a few 1996 flashbacks will jogyour memory.

JeanChrtien, who was then prime minister, took down a protester who confronted him at National Flag of Canada Day in Hull, Que., onFeb. 15 that year.

Prime Minister Jean Chretien talks with reporters shortly after an altercation with a protester in Hull, Que., on Feb. 15, 1996. (Tom Hanson/Canadian Press)

If you went to any dances, weddings or just listened to pop music in 1996, youlikely couldn't escape theMacarena.The Bayside Boys mix of theSpanish music duo Los del Rio's dance hitspent 14 weeks from August to November in the number 1 spot on the Billboard charts.

Theinternet was gaining traction. In February 1996, AT&T was promoting itsdial-upWorldnetservice.

New Yorkers try out the internet on an AT&T mobile lunch truck in Manhattan on Feb. 27, 1996. (Mark Cardwell/Reuters)

It had also been almost 10 years since the paperCanadian dollar made the transition to coin. Thelooniebegan circulating in 1987.

The loonie replaced $1 bills back in 1987. (Mark Blinch/Reuters)

The more durable coins were meant to replace$1 and $2 bills as a cost-savings measure. According to the mint, each toonie is expected to last more than 30 years.

Over the last two decades, the mint has issued special versions of thetoonieto commemorate significant events in Canada, including the founding of Nunavut in 1999, the 400th anniversary of Quebec City in 2008, the 200th anniversary of the War of 1812in 2012 and the 100th anniversary of Canadian John McRae's First World War poemIn Flanders Fieldsin 2015.

The Royal Canadian Mint issued a commemorative $2 coin in 2015 to mark the 100th anniversary of In Flanders Fields, the iconic poem associated with Remembrance Day. (Royal Canadian Mint)

The toonie continues to change. Originally, its core wasmade of aluminum and bronze and the coin'souter ring wasmade of nickel. According to the mint's website, theMarch 2010 federal budget set a mandate to change its metallic compositionbecause of the fluctuation in nickel and copper prices.The new coins are manufactured with multi-ply, nickel-plate steel forthe outer ringand multi-ply, brass-plated aluminum bronze for the insert.

The Royal Canadian Mint's infographic for the latest toonie. (Royal Canadian Mint)

With files from Reuters, The Canadian Press and YouTube