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The series was the first Bank of Canada series not to include a $1,000 note; the Canadian Landscape design of this bill continued to be printed during this series's run, with an updated $1,000 note appearing in the Birds of Canada series in 1992.
The Musical Ride is part of Canada's national identity. The images of the RCMP have been featured on various Canadian coins. The first coins that featured the image of the RCMP were the twenty-five cent and one dollar coins of 1973. Police Constable Paul Cederberg designed both coins. The twenty-five cent coin is unique in that there are two ...
In 1973, a quarter commemorating the Royal Canadian Mounted Police was issued; it also has two varieties: a large bust (rare) and small bust (common). In 1987, the $1 coin, colloquially known as the " loonie ", was introduced, replacing the Voyageur dollar with a new design, new colour, and smaller size.
The government fixed the value of the Canadian dollar against the pound sterling ($4.43 buying and $4.47 selling) and also against the US dollar ($1.10 (US$0.9091) buying and $1.11 (US$0.9009) selling). The government also imposed strict currency controls on exchanges with foreign currencies, particularly the United States dollar.
Made of 95% copper and 5% tin and zinc alloy, it sold for $1.7 million in 2010 but is valued at $2.3 million in mint uncirculated condition. More recently, it went for $840,000 at an auction.
It has been the physically smallest Canadian coin since 1922; it is smaller even than the country's penny, despite its higher face value. According to the Royal Canadian Mint , the official national term of the coin is the 10-cent piece , but in practice, the term dime predominates in English-speaking Canada.
This was the last series to feature a $1 banknote, with the banknote replaced by a dollar coin – known as a loonie for its design of a loon on the obverse – in 1987; printing of the $1 banknote ceased in 1989. However, there was a 21-month period where both the $1 bill and coin were produced concurrently, from June 1987 to April 1989.
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