A loon is a Northern diving bird that frequents Canadian lakes and lets out blood-curdling calls leading to the popular phrase 'crazy as a loon.'

Unencumbered by the loon's reputation, Candian officials authorized minting of loon dollars in 1987. These coins are made of aluminum-bronze and they are worth face value, i.e., one dollar in Canada. A collector will pay a few US dollars to purchase a fully uncirculated specimen for his or her collection. Use xe.com to convert currencies.

Canadians affectionately call these coins loonies, and they are very popular with the people, circulating freely. They also have a two dollar coin, called a toonie in honor of the loonie. When the US tries to get dollar coins to circulate freely, nothing happens. They never circulate. Why? Because there are just no catchy nicknames for 'Susan B. Anthony dollar' or 'Sacajawea dollar.' Instead, millions and millions of Susies and Weejies just sit idle, taking up space in dusty vaults at the mint!

If you have a proof loonie, like the one in the picture, with frosty devices and mirror-like fields, the value goes up to a few 10s of dollars.

For more Canadian silver dollars, click here.