The term "loonie" refers to the one-dollar coin used in Canada. It gets its nickname from the image of a common loon, a bird found in Canadian lakes, that appears on one side of the coin. The loonie was introduced in 1987 to replace paper currency and is made of a nickel-brass alloy, giving it a distinctive gold color. In addition to the one-dollar coin, 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. Together, the loonie and toonie are important components of Canada's currency system.