25 Dollars - Elizabeth II Loon, Piedfort

The piedfort format — struck at double the standard planchet thickness — originated in medieval France as a presentation piece, used to test dies and impress dignitaries before regular coinage commenced. The Royal Canadian Mint revived the format for collector issues in the late twentieth century, pairing it routinely with selective gold plating to differentiate field from relief. This particular issue marks the thirtieth anniversary of the common loon dollar, which entered circulation in 1987 after the one-dollar note was withdrawn — a cost-cutting measure estimated to save the federal government tens of millions annually in note replacement costs.