Loonie often discuss the rate at which the "loonie" is trading against other currencies. The nickname "loonie" became so widely recognized that in 2006, the Royal Canadian Mint secured the rights to it. When the Canadian two-dollar coin was introduced in 1996, it was in turn nicknamed the "toonie" (a portmanteau of "two" and "loonie"). Canada first minted a silver dollar coin in 1935 to celebrate the 25th anniversary of George V's reign as king. The voyageur dollar, so named because it featured an Indigenous person and a French voyageur paddling a canoe on the reverse, was minted in silver until
Loonie also, using steel provides cost savings and avoids fluctuations in price or supply of nickel. On April 10, 2012, the Royal Canadian Mint announced design changes to the loonie and toonie, which include new security features. Alongside the regular minting of the loonie with the standard image of the common loon on the coin's reverse, the Royal Canadian Mint has also released commemorative editions of the one-dollar coin for a variety of occasions. These coins have a circulation-grade finish and have been made available to the public in five-coin packs and in 25-coin rolls in addition to being released directly