Editing Loonie (section)

==History==
The government announced on March 25, 1986, that the new dollar coin would be launched the following year as a replacement for the dollar bill, which would be phased out.<ref name="OCCoinIntroduced">{{citation |last=Lee |first=Robert |url=https://news.google.com/newspapers?id=w78yAAAAIBAJ&sjid=rO8FAAAAIBAJ&pg=5946,2073094 |title=New coin to replace dollar bill |work=Ottawa Citizen |date=March 25, 1986 |access-date=April 14, 2013 |page=A1 |archive-date=January 3, 2022 |archive-url=https://web.archive.org/web/20220103202513/https://news.google.com/newspapers?id=w78yAAAAIBAJ&sjid=rO8FAAAAIBAJ&pg=5946,2073094 |url-status=live }}</ref> It was expected to cost $31.8 million to produce the first 300 million coins but, through [[seigniorage]] (the difference between the cost of production and the coin's value), expected to make up to $40 million a year on the coins. From the proceeds, a total of $60 million over five years was dedicated toward funding the [[1988 Winter Olympics]] in Calgary.<ref>{{cite news |last=Lee |first=Robert |url=https://news.google.com/newspapers?id=xL8yAAAAIBAJ&sjid=rO8FAAAAIBAJ&pg=1264,2475709 |title=Govt. hopes to cash in on dollar coin |work=Ottawa Citizen |date=March 26, 1986 |access-date=May 11, 2013 |page=A3 |archive-date=August 17, 2021 |archive-url=https://web.archive.org/web/20210817131030/https://news.google.com/newspapers?id=xL8yAAAAIBAJ&sjid=rO8FAAAAIBAJ&pg=1264,2475709 |url-status=live }}</ref>

The failure of the [[Susan B. Anthony dollar]] coin in the United States had been considered and it was believed Americans refused to support the coin due to its similarity to their [[Quarter (United States coin)|quarter]] coin and its lack of aesthetic appeal.<ref name="OC1985DollarCoin" /> In announcing the new Canadian dollar coin, the government stated it would be the same overall size as the Susan B. Anthony coin – slightly larger than a quarter – to allow for compatibility with American manufactured vending machines but would be [[Hendecagon|eleven-sided]] and gold-coloured.<ref name="OCCoinIntroduced" />

It was planned that the coin would continue using the ''voyageur'' theme of its predecessor, but the master dies that had been struck in Ottawa were lost in transit en route to the Mint's facility at Winnipeg.<ref name="CTV20thAnniversary">{{cite web |url=http://www.ctvnews.ca/the-loonie-a-canadian-touchstone-is-turning-20-1.246599 |title=The loonie, a Canadian touchstone, is turning 20 |publisher=CTV News |date=June 27, 2007 |access-date=May 11, 2013 |archive-date=November 19, 2018 |archive-url=https://web.archive.org/web/20181119061043/https://www.ctvnews.ca/the-loonie-a-canadian-touchstone-is-turning-20-1.246599 |url-status=live }}</ref> A Commons committee struck to investigate the loss discovered that the Mint had no documented procedures for transport of master dies and that it had shipped them via a local courier in a bid to save $43.50. It was also found to be the third time that the Mint had lost master dies within five years.<ref>{{cite news |last=Weston |first=Greg |url=https://news.google.com/newspapers?id=GK8yAAAAIBAJ&sjid=ku8FAAAAIBAJ&pg=5221,1949029 |title=Dollar fiasco third time mint lost moulds |work=Ottawa Citizen |date=February 5, 1987 |access-date=May 11, 2013 |page=A1 |archive-date=August 19, 2021 |archive-url=https://web.archive.org/web/20210819044209/https://news.google.com/newspapers?id=GK8yAAAAIBAJ&sjid=ku8FAAAAIBAJ&pg=5221,1949029 |url-status=live }}</ref> An internal review by the Royal Canadian Mint argued that while a policy existed to ship the obverse and reverse dies separately, the new coin dies were packaged separately but were part of the same shipment. The Mint also disagreed with the [[Royal Canadian Mounted Police]]'s contention that the dies were simply lost in transit, believing instead that they were stolen.<ref>{{cite news |title=Vanished dollar coin dies likely stolen, review finds |work=Toronto Star |date=April 19, 1990 |page=D12}}</ref> The dies were never recovered.<ref name="CTV20thAnniversary" />

Fearing the possibility of counterfeiting, the government approved a new design for the reverse, replacing the ''voyageur'' with a [[Robert-Ralph Carmichael]] design of a [[common loon]] floating in water.<ref name="CTV20thAnniversary" /> The coin was immediately nicknamed the "loonie" across English Canada, and became known as a "''huard''", French for "loon", in Quebec.<ref name="CBCArchiveLoonie" /> The loonie entered circulation on June 30, 1987, as 40 million coins were introduced into major cities across the country.<ref>{{cite news |last=McIntosh |first=Andrew |title=Canadians will call for the Loon when they know it, Mint predicts |work=The Globe and Mail |date=June 30, 1987 |page=A1}}</ref> Over 800 million loonies had been struck by the coin's 20th anniversary.<ref name="Ch20thAnniversary">{{cite news |last=Goldman |first=Suzanne |title=Loonie's two decades cause for celebration |work=Calgary Herald |date=June 30, 2007 |page=A1}}</ref>

After a 21-month period in which the loonie and $1 note were produced concurrently with each other, the Bank of Canada ceased production of the dollar banknote. The final dollar bills were printed on June 30, 1989.<ref name="CHBillDemise">{{cite news |last=Dawson |first=Chris |title=Paper dollar's demise begins bronzed bird's solo flight |work=Calgary Herald |date=June 30, 1989 |page=A1}}</ref> Initial support for the coin was mixed,<ref>{{cite news |url=https://news.google.com/newspapers?id=3adJAAAAIBAJ&sjid=IA4NAAAAIBAJ&pg=4365,3952253 |title=The 'loonie' divides Canada |work=Bangor Daily News |date=February 12, 1990 |access-date=June 30, 2013 |page=27 |archive-date=October 13, 2023 |archive-url=https://web.archive.org/web/20231013231216/https://news.google.com/newspapers?id=3adJAAAAIBAJ&sjid=IA4NAAAAIBAJ&pg=4365,3952253 |url-status=live }}</ref> but withdrawing the banknote forced acceptance of the coin.<ref>{{cite news |last=Rochette |first=Ed |url=https://news.google.com/newspapers?id=fKpJAAAAIBAJ&sjid=4oQMAAAAIBAJ&pg=1380,216339 |title=Canada uses its mint to make dollars and sense |work=The Vindicator |date=April 16, 1995 |access-date=June 30, 2013 |page=A17 |archive-date=August 16, 2021 |archive-url=https://web.archive.org/web/20210816142644/https://news.google.com/newspapers?id=fKpJAAAAIBAJ&sjid=4oQMAAAAIBAJ&pg=1380,216339 |url-status=live }}</ref>

The loonie has subsequently gained iconic status within Canada,<ref name="Ch20thAnniversary" /> and is now regarded as a national symbol.<ref name="Spec20th">{{cite news |url=http://www.thespec.com/news-story/2150853-happy-20th-to-our-loonie/ |title=Happy 20th to our loonie |work=Hamilton Spectator |date=June 30, 2007 |access-date=June 30, 2013 |archive-url=https://web.archive.org/web/20140225025615/http://www.thespec.com/news-story/2150853-happy-20th-to-our-loonie/ |archive-date=February 25, 2014 |url-status=dead }}</ref> The term "loonie" has since become synonymous with the Canadian dollar itself.<ref>{{cite news |url=https://www.thestar.com/business/2008/11/12/loonie_suffers_worst_day_ever.html |title=Loonie suffers worst day ever |work=Toronto Star |date=November 12, 2008 |access-date=June 30, 2013 |archive-date=August 3, 2020 |archive-url=https://web.archive.org/web/20200803111358/https://www.thestar.com/business/2008/11/12/loonie_suffers_worst_day_ever.html |url-status=live }}</ref> 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 [[Big Nickel|Sudbury's 'Big Nickel']].<ref>{{cite web |url=http://www.bigthings.ca/ontario/echobay.html |title=Echo Bay: Canadian Dollar Coin (Loonie) |access-date=January 14, 2011 |archive-date=November 12, 2011 |archive-url=https://web.archive.org/web/20111112151421/http://www.bigthings.ca/ontario/echobay.html |url-status=live }}</ref>

A year after the death of [[Elizabeth II]], a new loonie featuring the image of [[Charles III]] designed by Steven Rosati was revealed on November 14, 2023. A small number of the coins entered circulation in December 2023.<ref>{{Cite web |url=https://www.cbc.ca/news/canada/manitoba/king-charles-coin-royal-canadian-mint-1.7027749 |title=1st batch of newly minted Canadian coins bearing King Charles's image unveiled |publisher=CBC News |date=November 14, 2023 |accessdate=November 15, 2023 |archive-date=November 15, 2023 |archive-url=https://web.archive.org/web/20231115002525/https://www.cbc.ca/news/canada/manitoba/king-charles-coin-royal-canadian-mint-1.7027749 |url-status=live }}</ref>