The original plans for the new Newfoundland coinage suggested including a gold dollar.
Newfoundland began to issue its own decimal currency in 1865. Having been a colony from its founding in 1610 until 1907, and then a dominion prior to joining Canada, Newfoundland had its own currency, the Newfoundland dollar, until 1949. Prior to Canadian confederation in 1867, provinces and colonies had separate currencies. The coin became scarce in 1894 because of hoarding following the collapse of Newfoundland's banks and monetary system. Although few coins were issued, it was broadly used in Newfoundland and eastern Canada. It was the only circulation gold coin issued by a British colony. The Newfoundland 2-dollar coin was issued in intermittent years between 18.
