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    Army bills: Funding the War of 1812

    In 1812, British North America had no banks and little currency. With the prospect of war drying up supplies of coins, the government of Lower Canada decided to issue legal tender notes called “army bills” to pay for troops and supplies.

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    Needs or wants? That is the question!

    Do you need it, or do you want it? That’s an important question to ask before buying anything. This activity is designed to teach kids how to prioritize their needs and wants, and how to make informed choices when shopping.

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    From windmills and solar panels to electric cars, signs of the green economy are all around us. Check out our resources for how to teach about the green economy.

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The Coming of the Toonie

By: David Bergeron, Graham Iddon


February 19, 2019

From one medium to another

The release of the two-dollar coin and a bit of dark trivia about Canada’s two-dollar bill.

Canadian 2-dollar coins and bills

The very last two-dollar notes ever printed, and the toonie that replaced them.

 

A note with a reputation?

Canadian 2-dollar bill, late 19th century

This note would have been in circulation soon after the Canadian Pacific Railroad opened the West up to mass settlement. The portraits are of the Governor General and his wife, the Marquis and Marchioness of Lansdown. 2 dollars, Dominion of Canada, 1887. NCC 1964.88.875

 

The Canadian two-dollar note had been around since before Confederation. But to a Western Canadian, a two-dollar bill was a relatively unfamiliar thing. As the story goes, this note became associated with the shadier dealings of the frontier era—specifically prostitution. Though this association is purely hearsay, the two-dollar bill was never popular out west.

1996 Canadian $2 coin

Gifted nature artist Brent Townsend created the polar bear that has been on our toonie since 1996. 2 dollars, Canada, 1996, NCC 1996.31.40.1

 

In 1996, the paper note was replaced by a coin. Of course, that decision had nothing to do with any sordid associations Westerners might have had for these innocent notes. It was an economic decision—a cost-saving measure.

Paper bills simply don’t hold up to daily wear and tear nearly as well as coins do. The life expectancy of a two-dollar note was about a year. But coins can last more than 10 years. Even a polymer bank note, such as those Canada now produces, can’t match that sort of longevity. Although minting a coin costs far more than printing a note, the coin option is definitely more affordable when you consider the cost of printing 10 notes for every coin. And the history of the toonie bears that out.

 

 

 

 

 

Canadian $2 bill, face, 1986

Note designers hoped this simple design would make any flaws on notes counterfeited using colour copiers obvious. 2 dollars, Canada, 1986, NCC 1986.42.3

 

Bank notes and parking meters don’t mix

Although some Canadians were happy to see the old two-dollar notes disappear, the new coin initially met with some resistance. There were even rumours that the centre sections might fall out. These reports proved untrue and Canadians soon adapted to the new coin. After all, it is convenient for vending machines and parking meters.

In fact, the new coin ended up being so well received that the Royal Canadian Mint had to ramp up production. Some 325 million two-dollar coins were struck in the first year alone. If you periodically check your change, it’s very possible you’ll still find toonies from the first minting of 1996. Since then, annual production has varied between 10 and 30 million.

Canadian $2 bill, showing 2 robins, 1986

The original bird artwork for this note series was provided by renowned nature artist, John Crosby. He is best known for illustrating The Birds of Canada by W. Earl Godfrey. 2 dollars, Canada, 1986, NCC 1986.42.3

Canadian $2 bill, back 1974

If you find this Scenes of Canada series $2 bill in your change, hang on to it. Master engraver C. Gordon Yorke created this image of hunters at Pond Inlet, Nunavut in the early 70s. It is from a photograph by Doug Wilkinson. 2 dollars, Canada, 1974, NCC 1975.185.1

 

A coin becomes a toonie

As its popularity grew, Canadians gave the two-dollar coin its affectionate nickname. For those of you unfamiliar with why, here’s a quick bit of social history. The Canadian one-dollar coin, featuring an illustration of a loon, quickly picked up the name “loonie.” Instead of some sort of polar bear reference, the new coin became known as a “toonie,” as in two loonies. In fact, the “bearie” was put forward, but a nickname has a life of its own and “toonie” appears to be here to stay.

In 2006, the Mint opened a competition to name the bear on the toonie. Churchill was the winning name—a reference to the Manitoba town famous for polar bear watching. The runners up were Wilbert and Plouf.

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Content type(s): Blog posts

The Museum Blog

June 16, 2022

Army bills: Funding the War of 1812

By: David Bergeron, Graham Iddon


In 1812, British North America had no banks and little currency. With the prospect of war drying up supplies of coins, the government of Lower Canada decided to issue legal tender notes called “army bills” to pay for troops and supplies.
Content type(s): Blog posts Subject(s): Economy, History
May 5, 2022

Between tradition and technology

By: Graham Iddon


Collage, man at an easel, paintings of birds and a goose illustration with comments written on it.
What was proposed was a complete about-face from the philosophy behind recent security printing. If photocopiers could easily deal with the colours and designs of the current series, then the next series should be bold and simple.
Content type(s): Blog posts
April 21, 2022

Teaching the green economy

By: Adam Young


From windmills and solar panels to electric cars, signs of the green economy are all around us. Check out our resources for how to teach about the green economy.
Content type(s): Blog posts Subject(s): Business and careers, Economy, Geography, Science, Social studies Grade level(s): Grade 07 / Secondary 1, Grade 08 / Secondary 2, Grade 09 / Secondary 3, Grade 10 / Secondary 4, Grades 11 and 12 / Secondary 5 and CEGEP
April 4, 2022

Talk to your kids about money

By: Heather Montgomery


Collage, ceramic pig on background of a bank book and a stamp folder with kids on it.
Introduce important financial skills to your children, and help them plan for their futures with free resources from the Bank of Canada Museum and others.
Content type(s): Blog posts Subject(s): Financial literacy Grade level(s): Early childhood / Kindergarten, Grade 01, Grade 02, Grade 03, Grade 04, Grade 05, Grade 06, Grade 07 / Secondary 1, Grade 08 / Secondary 2, Grade 09 / Secondary 3, Grade 10 / Secondary 4, Grades 11 and 12 / Secondary 5 and CEGEP
March 3, 2022

Teaching inflation during the COVID-19 pandemic

By: Heather Montgomery


COVID-19 has had an unprecedented effect on the economy: closing businesses, driving down demand and interrupting supplies. With news stories and popular culture addressing inflation and supply chain issues, now is the perfect time to explain this key economic concept to your high school students.
Content type(s): Blog posts Subject(s): Economy Grade level(s): Grade 09 / Secondary 3, Grade 10 / Secondary 4, Grades 11 and 12 / Secondary 5 and CEGEP
February 3, 2022

Queen of the bank notes

By: Graham Iddon


Few of us have ever met her, and it’s likely none of us are even remotely related to her. Yet, Canadians have carried her picture in their wallets for generations now. She’s Queen Elizabeth II and has been our monarch for over 70 years.
Content type(s): Blog posts Subject(s): History
December 22, 2021

New acquisitions–2021 edition

By: David Bergeron


The Bank of Canada Museum is responsible for the National Currency Collection, and part of its mandate is to foster and develop that collection. Despite the challenges of collecting during a pandemic, curators at the Bank of Canada Museum have acquired some unique artifacts—including some that document the pandemic itself.
Content type(s): Blog posts
December 2, 2021

The true value of money

By: Graham Iddon


Photo collage, old bank notes and coins, gold nuggets and a computer component.
What is money—when you really stop to think about it? To understand how money works, and what it ultimately represents, we need to strip it down to its very basic function.
Content type(s): Blog posts Subject(s): Economy Grade level(s): Grade 07 / Secondary 1, Grade 08 / Secondary 2, Grade 09 / Secondary 3, Grade 10 / Secondary 4, Grades 11 and 12 / Secondary 5 and CEGEP
November 16, 2021

The 1911 silver dollar

By: David Bergeron


In front of a set of coins in a case, two coins, one lead, one silver, each with identical wreaths of maple leaves.
The 1911 silver dollar has a history to match its prestige, and it now has a permanent home in the National Currency Collection of the Bank of Canada Museum.
Content type(s): Blog posts
October 21, 2021

Moving mountains

By: Graham Iddon


Collage, bank note details, green, face of middle-aged woman, mountains and large number 20.
The $20 bill of 1969 was the prototype of the Scenes of Canada note series. Yet, as more notes were designed, the theme—and the $20 note itself—would change.
Content type(s): Blog posts
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