Dollars of Canada
A BRIEF HISTORY
01
Dominion ofCanada
paper money
In 1870, the only denominations to enter
ordinary circulation in quantity were 25 cent, 1
dollar and 2 dollar bank notes.
This year in history: Manitoba joins the
Dominion of Canada, Finance Minister
introduces banking guidelines.
02
1923 Bank Notes
DOMINION OF CANADA
The 1923 one dollar bank note was the last of
the large format bills.
This year in history: The first hockey game
broadcast on radio by Foster Hewitt, Drs.
Frederick Banting and J.J.R. Macleod receive
the Nobel Prize for the discovery of insulin.
03
Bank ofCanada
paper money
When the Bank of Canada opened for business on
March 11, 1935, it issued its own notes in a small
format, saving on both bank note paper and ink. This
issue consisted of separate unilingual English and
French notes.
This year in history: The Bank of Canada and
the Canadian Wheat Board established, William
Lyon Mackenzie King is re-elected as Prime
Minister, and between 500,000 and 600,000
unemployed Canadians are on public relief.
04
Canada's Silver Dollars
BANK OF CANADA
Canada’s first silver dollar for circulation, also the
first commemorative coin, marked the 25th
anniversary of the accession of King George V. The
reverse of the silver dollar was a modern design by
sculptor Emanuel Hahn, showing a Native Canadian
and a voyageur paddling a canoe by an islet on which
there are two wind-swept trees. In the canoe are
bundles of goods; the bundle at the right has HB,
representing the Hudson’s Bay Company. The
vertical lines in the background represent the northern
lights.
05
This commemorative silver dollar
marked the visit of King George VI
and Queen Elizabeth to Canada.
Over 1.3 million coins were issued,
and made available through the
Bank of Canada and the Post
Office. This mintage proved to be
larger than public demand, and
158,084 pieces were returned and
melted.
Only 18,780 silver dollars bearing
the date of 1948 were produced.
Due to King George VI’s change in
titles, new obverse coinage tools
were required, but would not arrive
for several months. As a result,
coins were produced wtih the date
1947 and a small maple leaf, until
the 1948 dies arrived. This coin is
very scarce due to its low mintage.
07
The Devil's In The Details
In the 1954 bank notes, detailed
lines in the engraving of Queen
Elizabeth II’s hair were thought to
resemble the face of a devil, leading
to notions of controversy within the
government and monarchy. The
famed “Devil’s Face” was
eventually removed from the
original engraving, and new bank
notes were issued bearing a
modified portrait of the monarch.
08
Canada's Centennial
The year 1967
marked Canada's
Confederation.
Bank notes and
silver dollars were
issued to
commemorate the
celebration. Over
6.7 million silver
dollars bearing the flying Canada goose design were issued, while over 139
million bank notes were issued in two varieties - one with serial numbers, and
the other bearing the commemorative double dates.
09
Nickel Dollars
The metal composition of Canada’s dollar coin changed in 1968
from silver to nickel. In order to make coining easier using the
hardened metal, the diameter was reduced considerably.
This year in history: Pierre Elliott Trudeau is sworn in as prime
minister, Lincoln Alexander becomes Canada’s first black MP and
the legislature passes the Official Languages Act, recognizing both
English and French as official languages of Canada
10
The End of the $1 Note
1973 was the last year for the one dollar
bank note. The Government of Canada had
decided to introduce a $1 coin for wide
circulation in 1987. The distribution of this
note ended after June 1989.
11
The Great Canadian Loonie
The increased costs associated with the production of
the one dollar bank note led to the request for a high
denomination coin that would replace the paper
note.
Canada’s one dollar coin was supposed to have
the voyageur design found on past silver dollars.
When an error in shipping the production dies to
the Winnipeg mint caused them to go missing,
the government wanted to avoid the risk of
counterfeited coins and scraped the design. The
now well-known loon design by artist
Robert-Ralph Carmichael submitted in 1976 was
adopted.
Canada's one-dollar circulation coins are
manufactured with a Multi-Ply Plated Steel technology
which covers a steel core with alternating layers of
metals such as copper, nickel and brass. The
resulting coins are more economical to produce,
durable and secure.
While the new one-dollar circulation coin maintains
the traditional "Loon" design, there is one visible
change - a single laser mark of a maple leaf positioned
within a circle on the coin's reverse . This laser mark
is produced during the striking of the coins using a
contrasting pattern micro-engraved on the coin die
itself.
What could you buy with $1?
18701 bushel of wheat
192310 pounds of pork
19354 pounds of butter
19485 pounds of beef
19542 movie tickets
19676 pints of ice cream
19731 pound of bacon
19874 litres of gasoline
2012284ml can of soup
