The "Loonie" is a colloquial term for the Canadian one-dollar coin. It gets its nickname from the image of a common loon, a bird native to Canada, depicted on one side of the coin. The Loonie was introduced in 1987 to replace paper dollar bills, making it more durable and easier to handle. In addition to the Loonie, Canada also has a two-dollar coin known as the "Toonie." The Toonie features a polar bear on one side and is named for its two-dollar value. Both coins are widely used in everyday transactions across Canada.