The US v. Canadian Dollar
No, this isn’t about currency conversion rates. This is about how both of these were executed. In my opinion, the Canadian Government did a better job introducing the Loonie into Canadian pockets than the US Government did with introducing their Sacagawea dollar coins. Basically, a better name was thought up and used by the populace as a slang term for the dollar coin. The Loonie is a easier term to spell than the Sacagawea dollar coin and I know for a fact that I had to look that up on Google to get the correct spelling.
When the Canadian Government introduced the Loonie, they stopped printing $1 bills here in Canada. This made it NECESSARY to start using your loonies in vending machines, coffee shops and other venues here in Canada. So, there are a very limited amount of $1 bills here and banks were likely instructed not to issue more, but instead, to issue loonies into the pockets of Canadians. Therefore, people could not use $1 bills anymore so the Loonie gained a larger amount of success. Best of all, the Canadian Government did the same thing for the $2 coin and thus, the Toonie was born.
And when the US Government issued their $1 coin, they continued printing $1 bills. What happened here? Everyone in the US saved their dollar coins because they thought that they would be worth something one day. The US dollar coin was the worst executed project ever, because the dollar coins never really circulated. Instead, they sit in people’s coin collections. The US dollar coins will never attain more value. Why? Well, EVERYONE has one. They aren’t rare - so they can’t be worth more than they already are. They are worth $1. My point? Use your dollar coins to get a Venti Hot Chocolate at Starbucks or a large at Tim Hortons. Whatever, just get rid of them.
Tags: canada, canadian_government, coin_collections, dollar_coins, General, loonie, sacagawea_dollar, slang_term, toonie, us_dollar_coin, us_government