The History of the Canadian 1-Dollar Coin

 

 

By Jim Austin

A journey from early experiments and silver dollars through to the iconic Loonie

The Canadian one-dollar coin has a rich and fascinating history, reflecting changes in economy, technology, and national identity. From early patterns and silver issues to modern circulation coins, this article traces the evolution of Canada’s dollar coin up to the present day — including the rare 1911 silver dollar and the beloved Loonie introduced in 1987.

Before Canada had its own widely accepted coinage, a variety of foreign coins circulated in British North America — including Spanish, French, Portuguese, Dutch, German, and U.S. coins — because local supplies of British currency were limited. Merchants and banks often accepted this mix due to practical necessity.

The Province of Canada adopted a decimal currency system in 1858 — replacing the British pound with the Canadian dollar — and began issuing official provincial coins. Other provinces followed with their own issues (e.g., Nova Scotia, New Brunswick, and Newfoundland). However, a standard federal dollar coin would not come for many decades.

One of the earliest attempts by Canadian authorities to strike a one-dollar coin occurred in 1911. Tools were prepared and trial coins were struck — including two in silver and one in lead — but the Canadian government changed shortly thereafter and cancelled the planned issue. As a result, these pieces were classified as pattern coins and were never released into general circulation. 

Because only three examples were struck — two in silver and one in lead — the 1911 pattern dollar is one of the rarest and most coveted Canadian coins, nicknamed among collectors as “The Emperor of Canadian Coins.” 

The first official Canadian dollar intended for public use was issued in 1935 by the Royal Canadian Mint in Ottawa. This silver dollar celebrated the Silver Jubilee of King George V. The reverse featured a canoe scene — called the Voyageur design — with a French-Canadian voyageur and an Indigenous guide paddling with bundles of furs, representing Canada’s fur-trade heritage.

This 1935 dollar ushered in a new era — and despite its weight and size (much larger and heavier than later dollars), it became Canada’s standard $1 coin in circulation. 

Over the next five decades, the dollar coin continued to be struck under various designs and compositions:

• Initially composed of 80% silver and 20% copper, these dollar coins were large and substantial.
• Regular and commemorative designs were issued:
• 1939 for the Royal Visit of King George VI and Queen Elizabeth
• 1949 for Newfoundland joining Confederation
• 1958 for the founding of British Columbia as a colony
• 1964 commemorating the Charlottetown and Québec conferences
• 1967 centennial dollar featuring a flying Canada goose
• These silver dollars were popular both for circulation and as collector pieces. 

By 1968, rising silver prices led to the silver dollar’s discontinuation in favor of a nickel composition dollar — smaller and lighter, but still well-recognized. This nickel dollar continued to use the Voyageur design until the mid-1980s.

Although dollar coins had circulated for decades, the Canadian one-dollar banknote remained in use alongside the silver and nickel dollars. By the 1980s, the government sought to reduce costs: paper notes wear out quickly often under a year, whereas coins can last 20+ years. 

Plans were made to introduce a new long-lasting dollar coin and phase out the banknote.

On June 30, 1987, Canada officially introduced the new one-dollar circulation coin nicknamed the Loonie. The 11-sided bronze-colored coin depicted a common loon on the reverse, designed by Canadian wildlife artist Robert-Ralph Carmichael.

Originally, a Voyageur design was intended for this new coin, but the dies were lost in transit to the minting facility — triggering the use of the loon design instead. 

The term “Loonie” quickly became popular because of the loon on the coin and was soon applied colloquially to both the coin and the Canadian dollar itself. The Royal Canadian Mint later even trademarked the name. 

The Canadian one-dollar bill continued circulating alongside the new coin until 1989, when it was officially withdrawn from circulation.

Over the years, the Loonie has featured various commemorative designs celebrating national events, anniversaries, and figures, while retaining the loon motif as its iconic hallmark. 

Additionally, modern Loonies now include advanced security features, such as a micro-engraved maple leaf laser mark, to help prevent counterfeiting. 

Today, the Loonie is more than just currency — it’s a symbol of Canadian identity and craftsmanship. Its introduction marked one of the most significant changes to Canadian coinage in decades and reflects both practical and cultural considerations in national money design. 

 

Timeline of Canadian $1 Coins — Mintages, Compositions & Portraits

Year(s)	Coin Type / Issue	Approx. Mintage	Composition	Obverse Portrait
Pre-1858	Foreign dollars circulating in British North America (Spanish, U.S., etc.)	N/A	Silver (varied)	Foreign rulers
1858–1870	Canadian decimal coinage introduced (no $1 coin yet)	N/A	—	Queen Victoria
1911	Pattern Silver Dollar (never circulated)	3 known (2 silver, 1 lead)	92.5% silver	King George V
1935	First circulating Canadian $1 (Voyageur)	1,010,710	80% silver	King George V
1936–1952	Voyageur silver dollars (regular issues)	Varies by year	80% silver	King George V / King George VI
1939	Royal Visit commemorative dollar	~1,000,000	80% silver	King George VI
1949	Newfoundland Confederation dollar	~1,000,000	80% silver	King George VI
1953–1964	Voyageur silver dollars	Varies by year	80% silver	Queen Elizabeth II (Young Head)
1964	Charlottetown & Québec Conferences dollar	~7,300,000	80% silver	Queen Elizabeth II
1967	Centennial “Flying Goose” dollar	~21,000,000	50% silver / 50% copper	Queen Elizabeth II
1968–1986	Nickel Voyageur dollars	Tens of millions total	99.9% nickel	Queen Elizabeth II
1987	Loonie introduced	~187,000,000	Bronze-plated nickel	Queen Elizabeth II
1989	$1 banknote withdrawn	—	—	—
1990–2002	Standard Loonie issues	Varies annually	Bronze-plated nickel	Queen Elizabeth II
2003–2022	Modern Loonies (security enhancements)	Varies annually	Brass-plated steel	Queen Elizabeth II
2023–Present	Loonie with King Charles III portrait	Ongoing	Brass-plated steel	King Charles III

 

References

• Royal Canadian Mint, Striking in its Solitude – the 1-dollar Coin (history and designs). (https://www.mint.ca/en-us)
• Bank of Canada Museum, The 1911 Silver Dollar. (bankofcanadamuseum.ca)
• Royal Canadian Mint blog, A Tale of Two Designs: How Canada’s 1-dollar Coin Became the Loonie. (https://www.mint.ca/en-us)
• Wikipedia, Loonie. (Wikipedia)
• Wikipedia, Voyageur dollar. (Wikipedia)
• Wikipedia, Canadian silver dollar. (Wikipedia)
• The Canadian Encyclopedia, Canadian Dollar (CAD). (thecanadianencyclopedia.ca)