- The C$2 coin will enter circulation later in December with a picture of Queen Elizabeth.
- Nearly 5 million of these coins will gradually enter circulation.
- The composition of the new nickel-plated steel coin has not altered.
The Royal Canadian Mint has designed a unique, black-ringed C$2 coin to honor Queen Elizabeth, whose death in September sparked an outpouring of sympathy in Canada and had collectors scurrying to purchase rare coins and bills featuring her likeness.
The C$2 coin, Canada’s highest denomination currency, will enter circulation later in December with a picture of Queen Elizabeth by Susanna Blunt and a polar bear design by Brent Townsend, the mint announced in a statement on Wednesday.
Canadians refer to the C$2 coin as a toonie, a play on the ‘loonie’ moniker for the Canadian dollar coin, which depicts a loon.
The composition of the new nickel-plated steel coin has not altered, but the two-sided black outside ring distinguishes it from conventional Canadian $2 coins. Nearly 5 million of these coins will gradually enter circulation as banks replenish their monetary inventory, according to the mint.
Elizabeth served as Canada’s head of state for seventy years, and the country celebrated a 10-day period of mourning following her passing. During her reign, she visited Canada more than any other country.
“Our special C$2 circulation coin offers Canadians a way to remember her,” said Royal Canadian Mint (MNT.TO) Chief Executive Officer Marie Lemay, adding that Queen Elizabeth was the only monarch most Canadians had ever known.
As a result of the queen’s passing, collectors scrambled to acquire rare coins and bills featuring her likeness, despite the fact that her image will stay on Commonwealth currency for years to come.
until 1982, Canada remained a part of the British Empire. It remains a member of the Commonwealth, which consists of former empire countries ruled by the British monarch.
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