The island of Newfoundland is a large island off the east coast of Canada. It is separated from Labrador by the Strait of Belle Isle and from Nova Scotia by Cabot Strait. It is the world’s 16th-largest island, Canada’s 4th-largest island, and the largest Canadian island outside of the North. Newfoundland is the newest province in Canada, having joined the confederation in 1949. The province was renamed Newfoundland and Labrador in 2001.
Newfoundland was a British colony in 1825 and was self-governing from 1855 to 1934. It initially used the Newfoundland pound, which was at par with the British pound.
The Newfoundland Government issued banknotes and coins. The total value of notes was determined by the legislature. On 1 January 1865, Newfoundland adopted the gold standard and the Newfoundland dollar replaced the pound at a rate of 1 dollar to four shillings and two pence (4/2).
The first series of Newfoundland dollar notes were monochrome uniface cash notes. They were used to pay for its road construction and maintenance crews. The notes circulated like cash and could be redeemed at local banks, after which they would be removed from circulation and canceled. The denominations included in this series were 40 cents, 50 cents, 80 cents, 1 dollar, and 5 dollars.
The second series of Newfoundland dollar notes had multiple colors and prints on both sides. They were cash notes used by the Department of Public Works, the Department of Marine Works, and the Department of Permanent and Casual Poor Services. The denominations included in this series were 25 cents, 50 cents, 1 dollar, 2 dollars, and 5 dollars.
The last series of Newfoundland dollar notes were the only banknotes allowed to circulate on the island and addressed a shortage of silver coins. The denominations were 1 dollar and 2 dollars.
Newfoundland adopted the Canadian dollar in 1949 after it joined the confederation.