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loonie

 
Dictionary: loon·ie   (') pronunciation
 
n. Informal.
  1. A Canadian coin worth one dollar.
  2. The Canadian dollar.

[From the image of a loon on one side of the coin.]


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A slang term for a Canadian dollar. It is derived from the picture of a loon on one side of the coin.

Investopedia Says:
Just like in the U.S. where the dollar is referred to as the "greenback", the loonie is a often used to refer to the Canadian dollar. For example one may hear in a news report that the loonie was up in today's trade.

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Wikipedia: Canadian 1 dollar coin
Top
One dollar (Canada)
Value 1 CAD
Mass g
Diameter 26.5 [1] mm
Thickness 1.75 mm
Edge Eleven-sided, smooth
Composition 91.5% Ni,
8.5% bronze plating
(88% Cu, 12% Sn)
Years of minting 1987–present
Catalog number -
Obverse
Obverse
Design Elizabeth II, Queen of Canada
Designer Susanna Blunt
Design date 2003
Reverse
Reverse
Design common loon in water
Designer Robert-Ralph Carmichael
Design date 1987

The Canadian 1 dollar coin (commonly called Loonie) is a gold-coloured, bronze-plated, one-dollar coin introduced in 1987. It bears images of a common loon, a well-known Canadian bird, on the reverse, and of Queen Elizabeth II on the obverse.

The design for the coin was meant to be a voyageur theme, similar to the country's previous one dollar/silver dollar coin, but the master dies were lost by the courier service while in transit to the Royal Canadian Mint in Winnipeg. In order to avoid possible counterfeiting, a different design was used.[1]

The coin has become the symbol of its currency. Newspapers often discuss the rate at which the loonie is trading against the United States "greenback". The nickname loonie (huard in French) became so widely recognized that on March 15, 2006 the Royal Canadian Mint secured the rights to the name "Loonie".[2]

The coin — an 11-sided polygon — is made of Aureate, a bronze-electroplated nickel combination. The total composition of the coin is 91.5% nickel and 8.5% bronze. The bronze is about 88% copper and 12% tin.

Contents

Public reaction

The coin was released on 30 June 1987. The $1 note remained in issue and in circulation along with the coin for the next two years, until the note was finally withdrawn on 30 June 1989.[3] The coin has been met with a general public acceptance. The town of Echo Bay, Ontario, home of loonie designer Robert-Ralph Carmichael, has erected an enormous loonie in his honour along the highway — similar to Sudbury's 'Big Nickel'.

Commemorative editions

The design has been changed several times for commemorative editions:

Year Theme Artist Mintage Special notes
1992 125th Anniversary of the Confederation [4] Rita Swanson 23,010,000 showing children and the Parliament Building. The regular loon design was also minted that year bearing the double date "1867-1992".
1994 Remembrance Design [5] RCM Staff 15,000,000 image of the National War Memorial in Ottawa
1995 Peacekeeping Monument [5] J.K. Harman, R.G. Enriquez, C.H. Oberlander, Susan Taylor 41,813,100 (see note) Included in 1995 Loon Mintage
2004 OLYMPIC Lucky Loonie [6] R.R. Carmichael 6,526,000 1st Lucky Loonie.
2005 Terry Fox Stan Witten 12,909,000 [7] Fox is the first Canadian citizen to be featured on a circulated Canadian coin. There are versions that exist without grass on the reverse of the coin. [6]
2006 OLYMPIC Lucky Loonie Jean-Luc Grondin 2,145,000 [7] 2nd Lucky Loonie.
2008 OLYMPIC Lucky Loonie Jean-Luc Grondin 10,000,000 3rd Lucky Loonie.
2009 Montreal Canadiens Centennial Loonie Susanna Blunt 10,000,000[8] To Commemorate the 100th anniversary celebration of the Montreal Canadiens professional hockey team. Circulated only in the province of Quebec at Metro(c) Grocery Stores.
2010 OLYMPIC Lucky Loonie N/A N/A 4th Lucky Loonie.


Specimen set variant dollars

The big loonie in Echo Bay, ON
Year Theme Artist Mintage Issue price
2002 15th Anniversary Loonie [9] Dora de Pédery-Hunt 67,672 $39.95
2004 Jack Miner Bird Sanctuary [10] Susan Taylor 46,493 $39.95
2005 Tufted Puffin [11] N/A 39,818 $39.95
2006 Snowy Owl [12] Glen Loates 39,935 $44.95
2007 Trumpeter Swan Kerri Burnett 40,000 $45.95

First strikes

Year Theme Mintage Issue Price
2005 Common Loon 1,944 $14.95
2005 Terry Fox [6] 19,949 $14.95
2006 Lucky Loonie 20,010 $15.95
2006 With New Mint Mark 5,000 $29.95

The lucky loonie

In recent years, the golden-coloured loonie became associated with Canada's winning hockey and curling teams and has been viewed as a good-luck charm in international competition. The legend began during the 2002 Winter Olympics, when a Canadian icemaker for the ice surfaces in the ice hockey tournament, Trent Evans, had buried a loonie under centre ice.[13] The original reason for placing the loonie was to assist in the puck-drop: the centre ice at Salt Lake was emblazoned with a large logo, and was missing the customary circle used by the referee and face-off players as a target for the puck - so he needed to add some kind of a dot as a puck target that would not stand out, and a loonie buried under the ice served well. Both the men's and women's hockey teams would win gold in the tournament, the men's 50 years to the day after their last gold medal victory. Following the Games, Team Canada executive director Wayne Gretzky recovered the coin and gave it to the Hockey Hall of Fame.

A loonie was also used at the IIHF World Hockey Championships between Canada and Sweden on May 11, 2003. This lucky loonie is known affectionately as the Helsinki Loonie. It was hidden surreptitiously before the Gold-Medal hockey game and saw Team Canada to victory. After forward Anson Carter scored against Swedish goaltender Mikael Tellqvist in overtime to win the World Hockey Championship for Canada, Team Canada officials admitted they had placed a Loonie in the padding beneath the crossbar of the Swedish net. [14]

The legend is also prevalent in curling, as the Kevin Martin rink at the 2002 Winter Olympics had won silver medals on a sheet with silver-coloured quarters underneath the surface. At the 2006 Winter Olympics, the Canadian icemakers in the curling tournament buried two loonies, one at each end of the sheet — coincidentally, Brad Gushue would win the gold medal there. In the same Olympics, the icemakers at the hockey tournament announced that they would not bury a loonie under the ice. The men's team finished out of the medals while the women's team won gold.

This legend is kept alive by the Royal Canadian Mint, which has since issued specially-designed "Lucky Loonies" for each year the summer and winter Olympics Games are held. Two new Olympic-themed loonies are due to be released in commemoration of the 2010 Winter Olympics being held in Vancouver-Whistler.

An episode of Star Trek: Deep Space Nine ("Blaze of Glory") also made mention of a lucky loonie – although the episode's air date (12 May 1997) predates the more-recent Olympic tradition, making it impossible for the scriptwriter to have intended a connection between the fictional coin and its real-world counterpart. The character, Michael Eddington, had a family heirloom in the form of a 22nd century Canadian one dollar coin that he called his "lucky loonie".

Team Russia has also made use of the lucky loonie - in the IIHF world championships in the year 2008 the coin was buried by Alexander Ovechkin at the centre of the ice and then dug out after Russia beat Canada 5 - 4 in overtime.

In the 2006 Stanley Cup Final, the Edmonton Oilers were said to have a lucky loonie buried at centre ice of the home arena of the opposing Carolina Hurricanes in Raleigh, North Carolina. However, during a practice before game 7 of the series, the Carolina players discovered and removed the loonie and the Oilers lost the championship in that final game.

References

  1. ^ Snopes: Loonie Design
  2. ^ Canadian Intellectual Property Office record
  3. ^ http://www.bankofcanada.ca/en/banknotes/general/character/1969-79_1.html Bank of Canada: 1973 issue $1 note.
  4. ^ Charlton Standard Catalogue of Canadian Coins, 60th Anniversary Edition, p. 174
  5. ^ a b Charlton Standard Catalogue of Canadian Coins, 60th Anniversary Edition, p. 175
  6. ^ a b c Charlton Standard Catalogue of Canadian Coins, 60th Anniversary Edition, p. 177
  7. ^ a b 2006 Royal Canadian Mint Annual Report, p. 46
  8. ^ "Habs' 100th anniversary celebration continues with logo on Canadian dollar". Associated Press. 24 September 2008. http://sports.espn.go.com/nhl/news/story?id=3607792. Retrieved on 7 May 2009. 
  9. ^ Charlton Standard Catalogue of Canadian Coins, 60th Anniversary Edition, p. 315
  10. ^ Charlton Standard Catalogue of Canadian Coins, 62nd Edition, p. 236
  11. ^ Charlton Standard Catalogue of Canadian Coins, 62nd Edition, p. 237
  12. ^ Charlton Standard Catalogue of Canadian Coins, 62nd Edition, p. 238
  13. ^ Do you believe in luck? Discover the Lucky Loonie from the Royal Canadian Mint
  14. ^ Hockey Hall of Fame - 1st Annual Hockey hall of Fame Game

External links

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Copyrights:

Dictionary. The American Heritage® Dictionary of the English Language, Fourth Edition Copyright © 2007, 2000 by Houghton Mifflin Company. Updated in 2007. Published by Houghton Mifflin Company. All rights reserved.  Read more
Investment Dictionary. Copyright ©2000, Investopedia.com - Owned and Operated by Investopedia Inc. All rights reserved.  Read more
Wikipedia. This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Canadian 1 dollar coin" Read more