Canadian money
Canada’s money is the Canadian dollar. One dollar is worth 100 cents. We write dollars with a $ sign and cents with a ¢ sign.
- $1 = 100¢
- $2 = 200¢
Canadian money comes in coins and bills.
Canadian coins
| Coin | Value | Picture on the back | Colour |
|---|---|---|---|
| Nickel | 5¢ | a beaver | silver |
| Dime | 10¢ | the Bluenose, a famous sailing ship | silver, small and thin |
| Quarter | 25¢ | a caribou | silver |
| Loonie | $1 (100¢) | a common loon (a bird) | gold-coloured |
| Toonie | $2 (200¢) | a polar bear | silver outside, gold-coloured centre |
The front of each coin shows the King. Older coins show Queen Elizabeth II.
Fun facts:
- The dime is the smallest coin but is worth more than the bigger nickel!
- The loonie came out in 1987. The toonie came out in 1996, and its name rhymes with loonie.
- Canada stopped using the penny (1¢) in 2013. Now, when you pay with cash, the total is rounded to the nearest 5 cents.
- There is also a 50¢ coin, but it is rarely used.
Canadian bills
Canadian bills are made of a smooth, strong plastic called polymer. Each bill has its own colour.
| Bill | Colour | Who is on it |
|---|---|---|
| $5 | blue | Sir Wilfrid Laurier, a prime minister |
| $10 | purple | Viola Desmond, a civil rights pioneer |
| $20 | green | Queen Elizabeth II |
| $50 | red | William Lyon Mackenzie King, a prime minister |
| $100 | brown | Sir Robert Borden, a prime minister |
The $10 bill is vertical: you hold it up and down! Bills also have special see-through windows and shiny pictures to stop people from making fake money.
Who makes Canada’s money?
- The Royal Canadian Mint makes coins.
- The Bank of Canada makes bills.
Counting money
Start with the biggest coin or bill and count up.
Example: 1 loonie + 1 quarter + 2 dimes
- $1.00 (loonie)
- + 25¢ = $1.25
- + 10¢ = $1.35
- + 10¢ = $1.45
Ways to make $1
- 1 loonie
- 4 quarters
- 10 dimes
- 20 nickels
Rounding
Since there are no pennies, cash prices are rounded:
| Price | Rounded cash price |
|---|---|
| $1.01 or $1.02 | $1.00 |
| $1.03 or $1.04 | $1.05 |
| $1.06 or $1.07 | $1.05 |
| $1.08 or $1.09 | $1.10 |
Card payments are not rounded.
Paying today
Many people pay with debit cards, credit cards or phones instead of cash. But it’s still important to know how coins and bills work.
Try it yourself
- Sort a pile of coins by type. What animal or picture is on each?
- Count how much money is in a small pile of coins.
- Find three different ways to make $2.
- Play store: price items and pay with play money.
- Look at a $10 bill. Who is Viola Desmond? Ask a grown-up to help you learn her story.
Quick recap
- Canada uses dollars and cents; 100 cents = $1.
- Coins are the nickel, dime, quarter, loonie and toonie.
- Bills are $5, $10, $20, $50 and $100, each with its own colour.
- Canada stopped using pennies, so cash prices round to the nearest 5¢.
- Count money starting with the biggest value.