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Loonie

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Introduction

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The government announced on March 25, 1986, that the new dollar coin would be launched the following year as a replacement for the dollar bill, which would be phased out.[1] It was expected to cost $31.8 million to produce the first 300 million coins, but through seigniorage (the difference between the cost of production and the coin's value), expected to make up to $40 million a year on the coins. From the proceeds, a total of $60 million over five years was dedicated toward funding the 1988 Winter Olympics in Calgary.[2]

The failure of the Susan B. Anthony dollar coin in the United States had been considered and it was believed Americans refused to support the coin due to its similarity to their quarter coin and its lack of esthetic appeal.[3] In announcing the new Canadian dollar coin, the government stated it would be the same overall size as the Susan B. Anthony coin – slightly larger than a quarter – to allow for compatibility with American manufactured vending machines, but would be eleven sided and gold coloured.[1]

It was planned that the coin would continue using the voyageur theme of its predecessor, however the master dies that had been struck in Ottawa were lost in transit en route to the Mint's facility at Winnipeg.[4] A Commons committee struck to investigate the loss discovered that the Mint had no documented procedures for transport of master dies and that it had shipped them via a local courier in a bid to save $43.50. It was also found to be the third time that the Mint had master dies within five years.[5] An internal review by the Royal Canadian Mint argued that while a policy existed to ship the obverse and reverse dies separately, the new coins dies were packaged separately but were part of the same shipment. The Mint also disagreed with the Royal Canadian Mounted Police's contention that the dies were simply lost in transit. It believed the dies were stolen.[6] The dies were never recovered.[4]

Fearing the possibility of counterfeiting, the government approved a new design for the reverse, replacing the voyageur with a Robert-Ralph Carmichael design of a common loon floating in water.[4] The coin was immediately nicknamed the "loonie" across English Canada, and became known as a "huard", French for "loon", in Quebec.[7] The loonie entered circulation on June 30, 1987, as 40 million coins were introduced into major cities across the country, though an error by the banks resulted in some Calgary residents receiving the coins one week earlier.[8] Over 800 million loonies had been struck by the coin's 20th anniversary.[9]

Clint Malarchuk

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Clint Malarchuk (born May 1, 1961) is a Canadian former professional ice hockey goaltender who played 338 games in the National Hockey League (NHL) during a professional career that spanned between 1981 and 1996. He was a fourth round selection of the Quebec Nordiques, 74th overall, at the 1981 NHL Entry Draft, and played for the Washington Capitals and Buffalo Sabres in addition to Quebec. He played 338 games in his NHL career with a record of 141–130–45. He is currently the goaltender coach of the Calgary Flames. Malarchuk is best known for surviving one of the most most gruesome on-ice injuries in NHL history. He suffered a laceration to his jugular vein after being slashed in the neck by an opponent's skate during a 1989 game and survived only through the fast action of Buffalo's trainer.

Career statistics

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Regular season and playoffs

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  Regular season   Playoffs
Season Team League   GP W L T MIN GA SO GAA   GP W L MIN GA SO GAA
1977–78 Fort Saskatchewan Traders AJHL 33 23 9 1 2015 157 1 4.67 — — — — — — —
1978–79 Fort Saskatchewan Traders AJHL 52 36 15 1 3030 204 1 4.04 — — — — — — —
1978–79 Portland Winter Hawks WHL 2 2 0 0 120 4 0 2.00 — — — — — — —
1979–80 Portland Winter Hawks WHL 37 21 10 0 1948 147 0 4.53 1 0 0 40 3 0 4.50
1980–81 Portland Winter Hawks WHL 38 28 8 0 2235 142 3 3.81 5 3 2 307 21 0 4.10
1981–82 Quebec Nordiques NHL 2 0 1 1 120 14 0 7.00 — — — — — — —
1981–82 Fredericton Express AHL 51 15 34 2 2906 247 0 5.10 — — — — — — —
1982–83 Quebec Nordiques NHL 15 8 5 2 900 71 0 4.63 — — — — — — —
1982–83 Fredericton Express AHL 25 14 6 5 1506 78 0 3.11 — — — — — — —
1983–84 Quebec Nordiques NHL 23 10 9 2 1215 80 0 3.95 — — — — — — —
1983–84 Fredericton Express AHL 11 5 5 1 663 40 0 3.62 — — — — — — —
  1. ^ a b Lee, Robert (1986-03-25), "New coin to replace dollar bill", Ottawa Citizen, p. A1, retrieved 2013-04-14
  2. ^ Lee, Robert (1986-03-26). "Govt. hopes to cash in on dollar coin". Ottawa Citizen. p. A3. Retrieved 2013-05-11.
  3. ^ Cite error: The named reference OC1985DollarCoin was invoked but never defined (see the help page).
  4. ^ a b c "The loonie, a Canadian touchstone, is turning 20". CTV News. 2007-06-27. Retrieved 2013-05-11.
  5. ^ Weston, Greg (1987-02-05). "Dollar fiasco third time mint lost moulds". Ottawa Citizen. p. A1. Retrieved 2013-05-11.
  6. ^ "Vanished dollar coin dies likely stolen, review finds". Toronto Star. 1990-04-19. p. D12.
  7. ^ Cite error: The named reference CBCArchiveLoonie was invoked but never defined (see the help page).
  8. ^ McIntosh, Andrew (1987-06-30). "Canadians will call for the Loon when they know it, Mint predicts". The Globe and Mail. p. A1.
  9. ^ Goldman, Suzanne (2007-06-30). "Loonie's two decades cause for celebration". Calgary Herald. p. A1.
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