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In 1895, following this banking crisis, the Canadian banks moved into Newfoundland and the value of the Newfoundland dollar was adjusted to set it equal to the Canadian dollar, a devaluation of 1.4%. The Newfoundland dollar was replaced by the Canadian dollar at par when Newfoundland joined Canada in 1949. [1]
Originally, a gold dollar was considered, but it was decided it might be lost by the fishermen due to its small size. Thus, a two-dollar denomination was chosen for the gold coin. [3] Three (equivalent) denominations were indicated on the coin, as it was denominated as $2, 200 cents, and 100 pence (equivalent value in sterling).
Expansion in the numismatic line was a key element of the 1990s. The first significant sign was the creation of the two-hundred dollar gold coin. Starting in 1990, this coin was sold for a higher price than its face value. The first coin commemorated the Silver Jubilee of Canada's flag and sold for $395.00.
Newfoundland began to issue its own decimal currency in 1865. The original plans for the new Newfoundland coinage suggested including a gold dollar. Over concerns that it would be easily lost as a result of its small size and value, the denomination of the gold coin was increased to two dollars. [1]
This conveniently made the value of 2 Newfoundland cents equal to one penny, and in effect made the Newfoundland dollar valued at a slight premium ($1 = 4s.2d.) over the Canadian ($1 = 4s 1.3d) and Nova Scotian ($1 = 4/–) dollars. Newfoundland was the only part of the British Empire to introduce its own gold standard coin: a Newfoundland gold ...
The most important coin in Newfoundland was the Spanish American dollar (the 8-real piece), therefore, the Newfoundland government set its dollar equal in value to this coin. The new decimal cent was equal to the British halfpenny and $4.80 was equal to one pound sterling .
Newfoundland two-dollar gold coin, 1870. Prior to 1865, Newfoundland used the Newfoundland pound, equal in value to the pound sterling. In 1865, Newfoundland switched to a decimal system, the Newfoundland dollar, and started to release its own coinage, in denominations of one-cent, five-cent, ten-cent, twenty-cent and two-dollar coins. [41]
Overprinted 75-cent Newfoundland airmail stamp for the July 1933 General Balbo flight. From 1913, when Lord Northcliffe offered a £10,000 prize for the first nonstop crossing of the Atlantic on a heavier-than-air machine, Newfoundland became the centre for most attempts, notably the successful flight by Alcock and Brown in 1919.
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