The Canadian $1 coin is colloquially known as a what?

The story behind the answer

Loonie is correct because Canada’s $1 coin, introduced in 1987, features a common loon on the reverse. The nickname caught on so strongly that traders often use “loonie” to refer to the Canadian dollar itself. The obverse bears the monarch’s portrait, while the loon—a bird iconic to Canada’s lake country—anchors the coin’s identity.

Fun backstory: the Mint originally planned to reuse the old “Voyageur” canoe design, but the master dies went missing in transit. To deter counterfeiting, they switched to artist Robert-Ralph Carmichael’s loon design, giving rise to the “loonie.” Memory tip: picture a loon gliding across a Canadian lake—$1 “swims with a loon.” And its $2 companion? The “toonie,” which rhymes with loonie.