Dollar
Canada first circulated a dollar coin in 1935 to commemorate the Silver Jubilee of His Majesty King George V. Designed by Canadian sculptor, Emanuel Hanh, this first-ever one-dollar coin was made of silver. Its reverse design, known as the ‘Voyageur,’ portrayed a romantic vision of Canada’s early history and its reputation as an untamed frontier during the fur trade. While some 116 million Voyageur dollars were minted over the next 52-years (1935-1987), the coin was not the only dollar available during that time.
A government-issued one-dollar bank note had already been circulating since 1870. Sadly, and much like the penny and two-dollar bank note in later years, the decision to withdraw it from circulation was made due to excessive production costs.
By the early 1980s, the lifespan of a one-dollar bank note was estimated to be nine to 12 months, while its coin counterpart could surpass 20 years. In the end, removing the bank note made cents.
Did you know that between 1987-1989, both the Loonie and one-dollar bank note could be found in the pockets of Canadians.
To learn more about the history of the Dollar coin, as well as their different portraits and varieties, please click here.
