Newfoundland 2 dollar coin minted in London. Newfoundland's two dollar coin was broadly used not only in Newfoundland, but also in Eastern Canada in general. The supply of the coins "virtually disappeared" in 1894, when Newfoundland's banks and monetary system collapsed. With paper banknotes being distrusted, the gold coins were hoarded, as well as two next-highest Newfoundland denominations, the silver 50-cent and 20-cent pieces. With its two-dollar coin, Newfoundland became the only British colony to issue circulating gold coinage apart from Sydney Mint which issued Australian sovereigns from 1855 onwards. Gold coinage was used in Canada and other British domains. For example, in the
Australian one-cent coin Australian one-cent coin The cent, formally the one-cent coin, is the lowest-denomination coin of the Australian dollar. It was introduced on 14 February 1966 in the decimalisation of Australian currency and was withdrawn from circulation in 1992 (along with the two-cent coin). It is still minted as a non-circulating coin. One-cent and two-cent coins are legal tender only up to the sum of 20 cents. From 1966 until 1984 the obverse featured the portrait of Queen Elizabeth II by Arnold Machin. It was changed in 1985 to a version by Raphael Maklouf, which remained until its withdrawal from circulation in