Those who walk around with change in their pockets most likely have a few nickels in their collection. The inch-sized, silvery-looking coin features one of Canada's beloved animals - the beautiful and majestic beaver - on the front. Contrary to its name, Canadian nickel actually contains very little of its eponymous base metal, and is now made of nickel-plated steel.

The story of how the 5-cent coin went from being made of silver to steel is a long and fascinating one.

Currency before Confederation

Prior to Canadian Confederation in 1867, various British North American colonies (such as the Province of Canada, New Brunswick and Nova Scotia) issued their own decimal coins. In 1858, the Royal Mint of England issued coins specifically for the Province of Canada. The 5-cent coin was tiny, its size intended to reflect its value; half the size of a dime. It was also made of sterling silver.

Standardization and the advent of nickel (1870-1921)

After Confederation, the new Dominion of Canada began to standardize its coinage. Until then, Canadian coins continued to be produced by either the Royal Mint of England or the Birmingham Heaton Mint - identified by the «H» hallmark - until 1908, when the Royal Mint opened its Ottawa branch.

The switch to the material that gives the coin its popular name came in 1922. Due to rising silver prices and wartime metal shortages, the Royal Canadian Mint (RCM) sought to reduce nickel production costs. At the time, the coin's economic role was too important to be completely eliminated, but a change in its composition was needed to ease the financial burden.

In 1920, the RCM first began manufacturing 5-cent coins with inferior silver, but only two years later, on January 3, 1922, the Canadian nickel was born. This version was made of pure nickel and modelled on its American counterpart. Unlike the American nickel - composed of 75 % copper and only 25 % nickel - the Canadian pure nickel coin made Canada the world's largest producer of the metal!

Wartime modifications and design explorations

World War II brought unprecedented demands for materials, forcing the Mint to look for alternatives to pure nickel, a metal essential to the war effort. The materials used to make beloved coins were now being diverted to the production of armor. As a result, the composition of nickel underwent some changes to adapt to available materials and economic solutions.

• 1942-1943: tombac, a bronze alloy composed of 88 % of copper and 12 % of zinc, giving the pieces a yellowish hue.
• 1944-1945: chrome-plated steel
• 1946-1951: 99.9 % nickel
• 1951-1954: chrome-plated steel
• 1955-1981: 99.9 % nickel
• 1981-1999: 75 % copper, 25 % nickel
• 2000-present: 94.5 % steel, 3.5 % copper, 2 % nickel-plated

As the composition of nickel evolved, so did the design of the coin. Until 1921, the coin was distinguished not only by its small size, but also by the criss-cross pattern of maple twigs on its surface. Then, from 1922 to 1936, the enlarged version of the nickel was modified to feature two maple leaves instead. This pattern remained until 1937, when the iconic Canadian mammal we know and love - the beaver - first appeared.

Although the beaver is still present today, the nickel has undergone some notable commemorative changes on its reverse:

• 1942-1963: Nickels were dodecagonal, or 12-sided, to distinguish them from the one-cent coin when the latter began to fade in circulation.
• 1943-1945: «We Win When We Work Willingly» was engraved in Morse code along the edge of the coin to promote industrial effort during the Second World War. These nickels also featured a «V» (for victory) and a flaming torch (for sacrifice).
• 1967: To commemorate the 100th anniversary of Canadian Confederation, Alex Colville designed a special series for all circulating coin denominations. The nickel featured a leaping hare.
• 2005: To mark the 60th anniversary of the end of the Second World War, the nickels reverted to the 1943 design with the flaming torch, the big «V» and the surrounding Morse code.
• 2017: As part of the celebration of the 150th anniversary of Confederation, the Nickels presented a design by Gerald Gloade of Millbrook First Nation. Gloade's design features the iconic beaver reinterpreted in traditional Algonquin art style; an achievement that earned Gloade a spot among the five winners of the «My Canada, My Inspiration» contest.

The Canadian nickel is much more than just a nickel; it's a little piece of metallic history, bearing witness to Canada's wartime sacrifices, industrial changes and beloved national symbols like the beaver.

Photos courtesy of Canadian Coin & Currency (site in English)