Canadian dollar

Canada's $1 coin, nick-named the "loonie".

Canada's $2 coin, nick-named the "toonie".

The Canadian dollar is Canada's national currency.

The Canadian Mint started replacing Canada's paper currency with polymer notes in 2011, starting with the $100 bill -- which was then the most valuable bill. The polymer bills were more durable than paper, and included security features, including a clear section, and a hologram.

Canada currently issues $5, $10, $20, $50 and $100 notes. There used to be paper notes for the $1 and $2 denomination. But Canada retired those notes in favour of coins. The $1 coin was introduced in 1987. The $2 coin was introduced in 1996.

Canada had long issued a $1 silver dollar, for collectors, and the new zinc, brass-coloured $1 coin was to use the same design, fur-traders paddling a birch-bark canoe. But, prior to production, the original dies that were to be used were lost. Due to the danger that the dies had fallen into the hands of counterfitters, a new design, with a loon on it, was the design on the obverse of the new coin -- triggering it to be nick-named the "loonie". This term is popular enough that even journalists refer to the Canadian dollar as the loonie, during financial reporting. When the $2 coin was introduced it was nicknamed the "toonie".