Canadian money comes in the same denominations as American money, with the same names: penny, nickel, dime, quarter and so forth. However, there are a couple of notable exceptions.
There is no paper Canadian one-dollar bill. Instead, there is a one dollar coin, nicknamed the Loonie because it has a picture of a Loon on one side. The Loonie is slightly larger than a quarter, is brass coloured instead of silver and has 12 sides, presumably so it doesn't feel like a quarter.
Beside the Loonie, there is the Toonie, or two-dollar coin. The Toonie is slightly larger than the Loonie, round, and made of brass and silver coloured metal: a brass centre, about the size of a dime, surrounded by a silver coloured band.
Although some people complain about having to carry larger and heavier coins, both the Loonie and Toonie are extremely useful. They work in vending machines and parking meters. For better or worse, they give you the sense that many things are inexpensive since they can be purchased with pocket change.
Changing Money
Have an accurate idea of the current currency exchange rates before you change money. That way you'll be able to gauge the rate you're getting. Use the BC Passport Currency Converter for an up-to-date, accurate rate.
The most convenient way to exchange money is to use your ATM card at a Vancouver bank or credit union. Most ATM machines accept ATM cards from other countries. If your ATM card doesn't work, try your credit card.
For a better rate, go into the bank or credit union and make a direct money exchange by using cash or traveler's checks.
For the best possible rate, go to Vancouver Currency Exchange on Hornby. In general currency exchange shops, especially those in tourist areas, don't give good currency exchange rates. However, Vancouver Currency Exchange at 800 West Pender gives the best rate in town. You can call them at 604-682-7921 for quotes.
They are conveniently located close to Canada Place and the Cruise Ship termials. There are other branches of this company; however, this location gives the best currency exchange rates.