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Following the return to the gold standard, British and United States gold coins, government of Canada notes, and Canadian coins were legal tender. Bank notes ceased to be legal tender. However, the return was short-lived. Britain went off the gold standard in September 1931, during the depths of the Great Depression. Canada followed suit by ...
The coin was immediately nicknamed the "loonie" across English Canada, and became known as a "huard", French for "loon", in Quebec. [9] The loonie entered circulation on June 30, 1987, as 40 million coins were introduced into major cities across the country. [15] Over 800 million loonies had been struck by the coin's 20th anniversary. [16]
The first circulation coin to be introduced with the new mintmark. [27] The issue date reads 1996–2006. [28] 2008 Québec, 400th anniversary of founding of Quebec City, the first French settlement in North America The coin was designed by jeweller Geneviève Bertrand, a Quebec City native. The engraving was done by RCM engraver William Woodruff.
These were promissory notes issued directly by the government. They came into wide usage during the war (1812–1815) to make up for the lack of bullion in Upper and Lower Canada. Unlike the card money used in the late 17th century, army bills could be and were in fact exchanged for gold coin once the war had ended.
Except for 1¢ coins struck in 1859, no more coins were issued until 1870, when production of the 5¢ and 10¢ was resumed and silver 25¢ and 50¢ were introduced. Between 1908 and 1919, sovereigns (legal tender in Canada for $ 4.86 + 2 ⁄ 3) were struck in Ottawa with a "C" mintmark. Canada produced its first gold dollar coins in 1912 in the ...
In 2004–05, the coins were sold in sets of four coins that featured two wildlife species: the Arctic fox (2004) and the Canada lynx (2005). Each coin was of a different value and depicted the animals in a separate pose. Colour and selective gold plating have also been applied to special issues of SML.
The final print run for the banknote was on 20 April 1989, two years after the $1 coin had been introduced. The run was circulated by the end of June 1989, after which banks were required to refrain from circulating the banknotes and to send collected $1 banknotes to the Bank of Canada for destruction. [15]
According to the Royal Canadian Mint, the official term for the coin is the one-cent piece, but in practice the terms penny and cent predominate. [citation needed] Penny was likely readily adopted because the previous coinage in Canada (up to 1858) was the British monetary system, where Canada used British pounds, shillings, and pence as coinage alongside U.S. decimal coins.