What Canada's new black toonie means

A glint of black will make an appearance on a new $2 coin meant to symbolize the nation’s mourning of the late Queen Elizabeth II.

The Royal Canadian Mint issued the new coin this week, bearing all the design elements of a standard toonie, but with a black outer ring reminiscent of a mourning armband.

“The composition of the coin hasn't changed. But what I can tell you because there is some commercial sensitivity around it is that it is a chemical interaction that causes the nickel to turn black,” explained Deneen Perrin, director of public affairs and government relations with the Royal Canadian Mint.

Nearly five million coins will enter the national coin distribution system as of this week, and will begin appearing gradually as banks restock their toonie inventories.

The toonie will still feature the standard Brent Townsend polar bear design on the core of the reverse, as well as the Susanna Blunt effigy of Her Late Majesty on the obverse.

For those looking to get their hands on the new toonies sooner, the Mint is hosting coin exchanges at its Ottawa and Winnipeg boutiques until 5 p.m. Thursday, or until supplies last.

“We do coin exchanges across Canada on a regular basis and we have really seen, especially in post-pandemic, a lot of people coming out to do these coin exchanges, Perrin said.

"But this one, in particular, is a special coin, and people want to be the first to get their hands on it at this point."