An interesting piece of history:
"The government announced on March 25, 1986, that the new [loon] dollar coin would be launched the following year as a replacement for the dollar bill, which would be phased out. 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
." - Wikipedia
The loon is a fundraiser and an inspiration to our athletes!
A picture is worth a thousand words.
Edited by canadian_coins
02/17/2018 11:55 pm