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The Coming of the Toonie

By: David Bergeron, Graham Iddon


February 19, 2019
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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

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July 7, 2014

Museum Reconstruction - Part 3

By: Graham Iddon


Bank of canada - Night
Though naturally we are aware that the former Museum space is being gutted, the reality of seeing it empty is still pretty strange for most of us here. In the last blog of this series we showed you the empty cafeteria space that will become the new Museum, as well as some images of the old Museum as it was at the time: stuffed with odds and ends of exhibit cases, the occasional display still on the walls.
Content type(s): Blog posts
June 23, 2014

CENTimental Journey

By: Graham Iddon


With all the blogging we’ve been doing for Voices from the Engraver, you’d think we had nothing else on our exhibition plate. We do, actually, and it’s called CENTimental Journey. This temporary exhibition, hosted at the Canadian Museum of History, walks you through more than 150 years of the Canadian 1 cent piece.
Content type(s): Blog posts
June 16, 2014

Museum Reconstruction - Part 2

By: Graham Iddon


We are coming up on a year since we closed the doors on the physical museum. During that year, we’ve worked very hard to make sure everybody knows that we are still a functioning museum and one that will be opening its doors again in a few years on a beautiful new space, with an expanded mission and mandate.
Content type(s): Blog posts
June 6, 2014

Becoming a Collector III

By: Graham Iddon


For you as the steward of your collection, your aim is to preserve the items as best as you can by protecting them from further deterioration. The pros call this preservation.
Content type(s): Blog posts
May 26, 2014

The Adventure of Exhibit Planning IV

By: Graham Iddon


This exhibition is about engravers, production processes and the beauty of postage stamps and bank notes. In the previous episode of this series we talked about the process surrounding securing the bank notes for this exhibition and how it had to take into account both the needs of the exhibition team and the concerns of the collections department.
Content type(s): Blog posts
May 20, 2014

Becoming a Collector II

By: Graham Iddon


So now you’ve decided that collecting currency is far more fascinating than collecting 14th Century Flemish altar paintings and have begun to accumulate some items. Good for you, those paintings are a bother to dust and currency is far easier to take care of.
Content type(s): Blog posts
May 12, 2014

Becoming a Collector I

By: Graham Iddon


Collecting things is a very common human urge. Be they matchbooks, pop bottles or 17th century Flemish altar paintings, owning large numbers of the same type of thing is a fascinating pastime for many of us.
Content type(s): Blog posts
May 2, 2014

The Adventure of Exhibit Planning III

By: Graham Iddon


During the planning stages stamping the word ‘final’ on any given aspect of a travelling exhibition can seem less of a directive and more of an overly optimistic suggestion.
Content type(s): Blog posts
April 22, 2014

Notes from the Collection: Recent Acquisitions II

By: Paul S. Berry


This month’s selections highlight various areas of Collection development. These include what are called financial instruments: items such as stocks, bonds shares and other articles that represent a contract to deliver money in some manner.
Content type(s): Blog posts
April 3, 2014

Museum Reconstruction - Part 1

By: Graham Iddon


In early February, a small group from the Bank’s Communications Department booked a brief tour of the main floor and first basement at the Wellington Street head office. It’s still in the demolition phase of the renovation.
Content type(s): Blog posts
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