What it means
Canada's two-dollar coin, named as a play on the loonie (the one-dollar coin with a loon on it). The toonie has a polar bear on it and the name stuck instantly because Canadians love a good pun. It is pocket change that you use for parking meters, Tim Hortons runs, and leaving tips. Often found in bulk at the bottom of jacket pockets after winter.
Usage examples
"Dug through my coat pockets and found enough toonies to buy two coffees and a box of Timbits. Canadian winter pockets are basically savings accounts, eh."
"I've got a couple of toonies for the parking meter if you need them."
"She tipped the barista a toonie and grabbed her coffee."
Where it comes from
A pun on the loonie, Canada's one-dollar coin named for the loon stamped on it. When the two-dollar coin arrived, two plus loonie gave toonie, and the nickname caught on faster than the mint expected.
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