Canada's dollar coin is celebrating its 25th anniversary.

On June 30, 1987, the coin replaced the one-dollar banknotes. It was instantly dubbed the “loonie” after the solitary loon that graces the coin's reverse side, and has held the nickname ever since.

“When it was first introduced, the $1 coin represented the most significant change to Canada's coinage system in more than 50 years and the Mint proudly played a lead role in making it a reality,” Ian E. Bennett, president and CEO of the Royal Canadian Mint, stated. “Looking back on how the world has evolved over the past 25 years, the loonie has endured as a true Canadian symbol.”

To celebrate this milestone birthday, the mint has produced a $1 fine silver coin. This double-dated coin features a new loon design by Ontario artist Robert Ralph Carmichael, who designed the original loonie.

Centered around the number 25, the coin depicts two loons swimming majestically past one another, one admiring the loonies eventful journey over the past 25 years while the other looks to the future and the many adventures to come, according to a media release from the mint. There will be 15,000 of the commemorative coins minted.

The coins can be purchased as of July 16 by contacting the Royal Canadian Mint at 1-800-267-1871 or www.mint.ca.

Posted by Arron Pickard