Feb. 16, 1996: Make room for 'doubloonie'
This day in history
The Ottawa Citizen
Published: Saturday, February 16, 2008
Stories from our pages over the last 150 years.
It will be out with the old and in with the new Monday as Canadians trade tatty, orange $2 bills for shiny new ''doubloonie'' coins.
Banks will begin taking the first of 245 million $2 bills out of circulation today. They are destined for the shredder.
On Monday, banks will begin dispensing the $2 coins. The $2 notes will still be legal tender. They'll gradually be withdrawn from circulation as they become worn or soiled and are returned to the bank in deposits.
The new coin is larger and heavier than the loonie -- 28 millimetres across and 7.3 grams in weight compared with the loonie's 26.6 millimetres and seven grams.
The $2 coin consists of two metals: an outer ring of nickel and an inner core of aluminum/bronze. The image of Queen Elizabeth is on one side. A polar bear on an ice floe is on the other.
The coin has already been dubbed the toonie, bloon, polar and doubloonie. No nickname has emerged yet as Canadians' favorite.
There's no rush on behalf of city hall to update parking meters, said Nirmal Dillon, Victoria's manager of collections.
Anyone care to reminisce about what they thought when the Canadain $2 bill was replaced by the $2 coin?