The term "loonie" refers to the colloquial name given to the Canadian one-dollar coin. Introduced in 1987, the loonie replaced the traditional paper one-dollar bill and became a popular symbol of Canadian currency. The coin earned its nickname due to the iconic image of a common loon, a native bird species, which is featured on the coin's reverse side. The loonie is composed of a combination of nickel and bronze-plated steel, giving it a golden appearance.

The adoption of the loonie was met with mixed reactions initially, but it quickly gained acceptance and has since become an integral part of Canadian culture. It is widely used in everyday transactions across the country and is easily recognizable due to its distinctive size and appearance. The term "loonie" is often used interchangeably to refer to the coin itself, as well as to the Canadian dollar in general. As a symbol of national identity and pride, the loonie holds a special place in the hearts of Canadians and is recognized worldwide as a symbol of Canada's currency.

The term “loonie” is the nickname for Canada’s one-dollar coin. It gets its name from the image of a common loon, a well-known Canadian bird, featured on one side of the coin. Introduced in 1987, the loonie replaced the one-dollar paper bill and quickly became a symbol of Canadian currency. The coin is gold-colored and made primarily of nickel and bronze-plated metal. Over time, the loonie has also come to represent the Canadian dollar (CAD) in financial markets and everyday language. Traders, for example, often refer to the CAD as the “loonie” when discussing forex pairs like USD/CAD. The coin’s design and nickname reflect Canada’s culture, wildlife, and national identity.