Canada’s money
Canadian money is counted in dollars ($) and cents (¢). There are 100 cents in 1 dollar. Money comes as coins and banknotes (bills).
Canadian coins
| Coin | Value | Picture on the back | Nickname |
|---|---|---|---|
| Nickel | 5¢ | beaver | |
| Dime | 10¢ | the schooner Bluenose | |
| Quarter | 25¢ | caribou | |
| Loonie | $1 | common loon | loonie |
| Toonie | $2 | polar bear | toonie |
The dime is smaller than the nickel, but it’s worth more! Size doesn’t tell you value.
What about pennies? Canada stopped making the 1¢ penny in 2012. Cash totals are now rounded to the nearest 5 cents. Pennies are still legal money, but you won’t see them much.
Canadian banknotes
| Banknote | Colour |
|---|---|
| $5 | blue |
| $10 | purple |
| $20 | green |
| $50 | red |
| $100 | brown |
Canadian banknotes are made of a smooth plastic called polymer, with see-through windows that make them hard to copy. The newest $10 note is vertical and shows Viola Desmond, a Nova Scotia businesswoman who stood up against racial segregation.
Recognizing money
To tell coins apart, look at:
- Size and colour: the toonie has two colours, silver-coloured outside and gold-coloured inside.
- The animal or picture on the back.
- The number written on it.
How coins relate
| Coins | Make |
|---|---|
| 2 nickels | 1 dime (10¢) |
| 5 nickels | 1 quarter (25¢) |
| 4 quarters | 1 loonie ($1) |
| 2 loonies | 1 toonie ($2) |
| 10 dimes | $1 |
Worked examples
Example 1: Which coin has a caribou on it?
The quarter, worth 25¢.
Example 2: How many quarters make a loonie?
4 quarters (4 × 25¢ = 100¢ = $1).
Example 3: Which banknote is green?
The $20 bill.
Common mistakes
- Thinking bigger coins are worth more. The dime is small but worth more than the nickel.
- Mixing up the loonie and the toonie. The toonie has two colours and is worth $2.
- Forgetting that 100 cents = 1 dollar.
Try it yourself
- What is a nickel worth?
- Which coin shows a polar bear?
- How many dimes make $1?
- What colour is the $5 bill?
Answers: 1) 5¢ 2) the toonie 3) 10 4) blue
Quick recap
- Canadian coins: nickel 5¢, dime 10¢, quarter 25¢, loonie $1, toonie $2.
- Banknotes: $5, $10, $20, $50, $100.
- 100 cents make 1 dollar; coin size doesn’t show value.