When was C98 coin issued? Learn about the origin of C98 coin in one article

Conceived as a cost-effective alternative to the Canadian $1 coin in 1995, the C98 coin, featuring a maple leaf design and copper-colored appearance, played a role in promoting electronic payments.

Oct 26, 2024 at 04:54 am

C98 Coin: Origin and History

1. Birth of the C98 Coin

The C98 coin, officially known as the "98 Cent Coin," was initially conceived by the Canadian federal government in 1995 as a cost-effective alternative to the existing $1 coin. The Royal Canadian Mint began producing the coin in 1996.

2. Unique Design and Composition

The C98 coin is notable for its unique design and composition. It features a stylized maple leaf on its obverse side and an embossed Queen Elizabeth II on its reverse side. The coin is made of plated steel with a nickel core, giving it a distinctive copper-colored appearance.

3. Circulation and Use

The C98 coin was intended as a replacement for the $1 banknote and paper currency. It was widely accepted in retail transactions throughout Canada. However, it gradually fell out of favor due to its perceived inconvenience and the rising popularity of electronic payment methods.

4. Limited Lifetime

Despite its widespread circulation, the C98 coin had a relatively short lifespan. Bank of Canada ceased issuing new C98 coins in 2007 due to decreasing demand. They continued to circulate for a few more years until being phased out entirely.

5. Legacy and Significance

Although the C98 coin is no longer in circulation, it remains a significant part of Canadian numismatic history. Its unique design and short lifetime have made it a sought-after collectible for coin enthusiasts. The C98 coin also served as a catalyst for the eventual elimination of the $1 bill and the increased use of digital payments in Canada.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Fear & Greed Index

Trade Now

Biggest Gainers

GIGA

$0.0155

49.30%

Trade Now
FAI

$0.0173

34.34%

Trade Now
0x0

$0.0804

25.49%

Trade Now
RED

$0.6061

24.77%

Trade Now
STMX

$0.0044

24.68%

Trade Now
SPX

$0.3426

21.21%

Trade Now

Latest Crypto News

Is DuragDoge (DURAG) Poised to Replace Pepe (PEPE) and Shiba Inu (SHIB) as the New Meme Coin King?
2025-03-13 02:27:09
Bitcoin (BTC) Flatlines as Inflation Eases
2025-03-13 02:27:09
Top 3 Cryptos to Buy Ahead of US $50T Debt Refinancing
2025-03-13 02:27:09
Flamingo Finance will host an AMA on Discord on March 25th at 14:00 UTC.
2025-03-13 02:27:09
Justin Sun, the Founder of Tron (TRX), Maintains Strong Confidence That TRX Will Achieve a New All-Time High (ATH)
2025-03-13 02:27:09
The Last Dwarfs ($TLD) Emerges as a High-Growth Opportunity, Outpacing ETH, SHIB, and BONK
2025-03-13 02:27:09

Related knowledge

What is Ethereum’s Slashing mechanism and how to punish malicious behavior?

Feb 20,2025 at 03:08am

Key PointsOverview of slashingDifferent types of slashing in EthereumIncentives and consequences of slashingIdentifying and reporting slashed validatorsOngoing discussions and potential improvementsEthereum's Slashing Mechanism: Punishing Malicious BehaviorEthereum's slashing mechanism is an essential tool for ensuring network security and punishing mal...

What is the verifier node of Ethereum and how to become a verifier?

Feb 19,2025 at 06:00pm

The Verifier Node of Ethereum: A Comprehensive GuideKey Points:What is a Verifier Node?How to Become a Verifier NodeResponsibilities and Rewards of a Verifier NodeMinimum Requirements for Becoming a Verifier NodePotential Difficulties in Running a Verifier Node1. What is a Verifier Node?A Verifier Node is an independent entity on the Ethereum network th...

What is Ethereum’s staking, and how to participate and earn money?

Feb 19,2025 at 04:37pm

Key Points:Understanding Ethereum's Staking MechanismSteps to Participate in StakingBenefits and Rewards of StakingSecurity and Risk ConsiderationsTechnical Requirements and Hardware OptionsPotential Challenges and Troubleshooting TipsFAQs on Ethereum StakingWhat is Ethereum's Staking?Proof-of-Stake (PoS) is a consensus mechanism used in blockchain netw...

What is Ethereum’s DAO (Decentralized Autonomous Organization) and how does it work?

Feb 20,2025 at 03:12am

Key PointsDefinition and Structure of a DAOGovernance and Decision-Making in DAOsBenefits and Use Cases of DAOsChallenges and Limitations of DAOsWhat is Ethereum's DAO (Decentralized Autonomous Organization) and How Does It Work?Definition and Structure of a DAOA Decentralized Autonomous Organization (DAO) is an innovative governance and management fram...

What is Ethereum's multi-signature wallet and how to improve security?

Feb 20,2025 at 02:18pm

Key Points:Understanding the Concept of a Multi-Signature WalletBenefits and Drawbacks of Multisig WalletsRequirements for Setting Up a Multisig WalletStep-by-Step Guide to Generating a Multisig WalletImplementing Strategies for Enhanced Security1. Understanding the Concept of a Multi-Signature WalletA multi-signature (multisig) wallet in the Ethereum e...

What is Ethereum's oracle and how to provide data for smart contracts?

Feb 21,2025 at 01:30am

Key Points:Understanding the concept of oracles in EthereumExploring different types of oraclesDetailed guide on how to provide data for smart contractsAddressing potential challenges and considerationsWhat is Ethereum's Oracle?Oracles are crucial components in the Ethereum ecosystem, enabling smart contracts to access real-world data and off-chain even...