The toonie, formally the Canadian two-dollar coin, was introduced on February 19, 1996, by Minister of Public Works Diane Marleau. As of 2023, it possesses the highest monetary value of any circulating Canadian coin. The toonie is a bi-metallic coin which on the reverse side bears an image of a polar bear by artist Brent Townsend. The obverse, since 2023, bear a portrait of King Charles III. It has the words CHARLES III / D.G. REX; before 2023, the words were in a typeface different to other Canadian coins.

The coins of Canada are produced by the Royal Canadian Mint and denominated in Canadian dollars ($) and the subunit of dollars, cents (¢). An effigy of the reigning monarch always appears on the obverse of all coins. There are standard images which appear on the reverse, but there are also commemorative and numismatic issues with different images on the reverse.