The Canadian 2 dollar coin, commonly called Toonie (also spelled Tooney[1] or Twoney [2], or Twoonie), was introduced on February 19, 1996 by Public Works minister Diane Marleau. The Toonie is a bi-metallic coin which bears an image of a polar bear, by Campbellford, Ontario artist Brent Townsend, on the reverse. The obverse, like all other current Canadian coins, has a portrait of Queen Elizabeth II. It has the words "ELIZABETH II / D.G. REGINA" in a different typeface from any other Canadian coin; it is also the only coin to consistently bear its issue date on the obverse. Canada adopted the patented technology to make these coins from Italy. The engineer, and head of the Italian Mint, Dr. Nicola Ielpo, patented the technology of interlocking two metals in coins in 1990.[3]
It costs 16 cents to mint a Toonie, which is estimated to last 20 years. The discontinued two-dollar bill cost six cents to print and, on average, each bill lasted only one year.[4]