While the cost of producing a two-dollar note is only six cents, versus sixteen cents for a coin, the average bank note lasts only
about one year before needing to be withdrawn and replaced with a new one. Coins have useful life of twenty years or more. The
Government of Canada estimates that the two-dollar coin will save taxpayers more than two hundred fifty million dollars during the
first twenty years of its issue.
After 125 years of faithful service, the Canadian two-dollar note was no longer issued and was withdrawn from circulation. The most
recent date on the bills is 1986. They were replaced by a beautiful new two-dollar bimetallic coin on February 19, 1996, featuring a
majestic polar bear on the reverse and the Queen on the obverse. Copyright, Mark Alexander, April 10, 1998
These coins are commonly called
"twoonies" because of the nickname for the one-dollar coin "loonie" and it's two dollar value.
Copyright 1998 - 2007 The entire contents of this
website are copyright, including all images. Permission is granted to
non-profit organizations on the condition that such copies are not sold or
otherwise used for profit. Unless specifically stated otherwise, images of
banknotes are copyright by the Bank of Canada and are used here with