Loonie the banknote forced acceptance of the coin. The loonie has subsequently gained iconic status within Canada, and is now regarded as a national symbol. The term "loonie" has since become synonymous with the Canadian dollar itself. The town of Echo Bay, Ontario, home of Robert-Ralph Carmichael, erected a large loonie monument in his honour in 1992 along the highway, similar to Sudbury's 'Big Nickel'. Officials for the 2002 Salt Lake Winter Olympics invited the National Hockey League's ice making consultant, Dan Craig, to oversee the city's E Center arena, where the ice hockey tournament was being held. Craig invited a
Coins of the Canadian dollar decided that the new Sacagawea Dollar coin would have the same diameter and colouring as the Canadian $1 coin, the "loonie", although this proved to be a non-issue. The most significant recent developments in Canadian coinage were the introduction of $1 and $2 coins and the withdrawal of the one cent piece. The $1 coin (the "loonie") was released in 1987. The $1 banknote would remain in issue and in circulation alongside the one dollar coin for the next two years, until it was withdrawn in 1989. The coin was to be the voyageur-design silver (then nickel) dollar coins that