Canadian jazz legend Oscar Peterson is being honoured with a commemorative $1 coin celebrating his life and legacy.

The Montreal-based pianist and composer was one of the greatest Canadian musicians who ever lived, and he left an indelible mark on the history of jazz. With this, Peterson becomes the first Canadian musician to appear on a circulation coin.

The Royal Canadian Mint unveiled the commemorative coin Thursday in front of family and friends gathered in Toronto’s Roy Thomson Hall.

“The Mint is passionate about celebrating stories of exceptional Canadians on its coins and I am delighted that Oscar Peterson … is being celebrated as one of the world’s most respected and influential jazz artists of all time,” said Marie Lemay, president and CEO of the Royal Canadian Mint. “Mr. Peterson’s music and legendary performances have brought joy to millions of music lovers in Canada and around the world and we are proud to honour him, through this coin, for his exceptional contributions to Canadian music and culture.”

The coin will begin circulating on Aug. 15, to coincide with his birthday — which JAZZ.FM91 has proclaimed Oscar Peterson Day.