Canada, Dominion of Canada, 25 cents : July 2, 1923

25 cents 1923 -McCavour-Saunders 

Quantity printed

• 25 cents 1923 - McCavour-Saunders : 5,130,000

Shinplaster was paper money of low denomination, typically less than one dollar, circulating widely in the economies of the 19th century where there was a shortage of circulating coinage. The shortage of circulating coins was primarily due to the intrinsic value of metal rising above the value of the coin itself. People became incentivized to take coins out of circulation and melt them for the true intrinsic value. This left no medium of exchange for the purchase of basic consumer goods such as milk and newspapers. To fill this gap, banks issued low-denomination paper currency.

Etymology

The term shinplaster came into use during the American Revolutionary War. Shinplaster was a piece of paper soldiers put inside their boots to cushion their shins against chafing and rash (see plaster).^[1] Common, low-denomination notes, perceived as almost worthless compared to hard currency such as gold and silver, came to be known by this term.

In Canada, the term shinplaster was widely used for 25-cent paper monetary notes which circulated in the late 19th and early 20th centuries. The first design was printed on March 1, 1870, and the final design was first printed on July 2, 1923.