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The Canadian Aureate $1 coin, so named because of the Common Loon engraved on the reverse side (not, as sometimes reported, because of the portrait of Queen Elizabeth II on the obverse).

The use of the word "Looney" to refer to the dollar coin is quite prevalent in Canada. Canadian dollar stores are quite often called Looney-Twoney stores, for example.
You can't use Looneys to pay bridge tolls in the U.S., more's the pity
Looney by tomte October 31, 2007
Made in my Allendale,sc

Basically means you a character like off the Looney tunes
I wonder wha will happen if I put my thumb in her butt
You a Looney dude
Looney by 803 baby November 14, 2018
a looney person is a person that likes to sit on people rather than chairs.
jesus that guy is looney lol
looney by nicolacharmed May 22, 2008
When a man can shoot his load in the air and then catch it in his own mouth.
Roger broke up with Brad after he pulled a looney instead of letting him have it.
Looney by Rob Aldridge March 3, 2007
to get high on x pills or act like an crackhead
yo them guys are real looney but not like my girl when she sees my dick
looney by terell May 17, 2006
When some fool as mufucka talk wild dumb shit or pop off fly behind ur back
"This looney ass nigga talking big shit about me and my fam"
looney by Mr. PrezDent May 21, 2007