National News posted Feb 19, 2016 @ 07:05am by Anita Sthankiya

Canadian Toonie Turns 20-Years-Old

It was exactly two decades ago when Canadians were introduced to the new two-dollar coin, known as the toonie.

Following the successful transition of the one dollar bill to a coin in 1987, the Royal Canadian Mint launched the two-dollar coin. The bi-metallic, polar bear themed coin was quickly nicknamed the toonie when it hit the market on February 19^th, 1996.

<who> Photo Credit: Royal Canadian Mint

"Over the last 20 years, our two-dollar circulation coin has efficiently served Canadian commerce and given the Mint many opportunities to celebrate Canada through special commemorative designs," said Sandra Hanington, President and CEO of the Royal Canadian Mint. "It is now time for us to shine a spotlight on the Toonie by wishing it a happy 20^th birthday."

<who> Photo Credit: Royal Canadian Mint

The two-dollar coin was Canada’s first bi-metallic coin, with the inner core and outer rim solidly bonded by a locking system patented by the Royal Canadian Mint. The core was made of a copper alloy and the ring was pure nickel until 2012, when the Mint modernized Canada's highest-value circulation coin by changing its composition to multi-ply plated steel, while still preserving its bi-metallic appearance, and adding advanced security features to its surface.