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
Trade dollar (United States coin) decline and the intrinsic value of the coins fell below one dollar, bullion depositors began having their silver struck as trade dollars and selling them wholesale to be distributed throughout the country. Bullion producers opted to coin their silver into trade dollars because the Coinage Act of 1873 specified that silver brought to the Mint could only be struck as such or cast into bars. Congress considered raising the five-dollar legal tender limit on trade dollars, but instead passed a bill that officially demonetized the trade dollar on July 22, 1876; the Secretary of the Treasury was directed by the