The Royal Canadian Mint is unveiling a new commemorative loonie today meant to mark what it calls a key milestone for lesbian, gay, transgender, queer and two-spirited people in the country.

The agency says the new one-dollar coin pays tribute to Parliament's passing of legislation that "initiated the decriminalization of homosexuality in Canada."

It says the coin, which will be presented in Toronto today, celebrates "50 years of progress for LGBTQ2 Canadians."

But historians and advocates are raising concerns about the message behind the new loonie, saying it mistakenly suggests equality has been achieved and largely as a result of the federal government's actions.

A group of activists and academics is holding a news conference near the mint's event today to challenge myths surrounding the 1969 Criminal Code reform.

York University historian Tom Hooper, who is part of the group, says LGTBTQ people faced continued criminalization over the decades that followed the legal changes.