There are 114 coins. They are all loonies and quarters. They total up to $63.75. How many quarters are there? How many loonies are there?

What is a loonie and how much is it worth? A quarter is .25 dollars.
We need this for one of the equations.

It's the nickname for the Canadian dollar. I'd assume the poster's references to "dollar" and "quarter" are both in terms of Canadian currency, giving one of the two equations as...

L + 0.25Q = 63.75