Canadian dollar bills used to be convertible into gold, but now are only convertible into silver.

Name: Canadian dollar bills used to be convertible into gold, but now are only convertible into silver.
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Canadian dollar bills were never convertible into gold. The convertibility of any currency into a precious metal is known as the gold standard, which Canada abandoned in 1933. Currently, Canadian dollar bills are not convertible into any precious metal, including silver.

Canadian Dollar Bills Used to Be Convertible into Gold, but Now