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
Trillion dollar coin Treasury in 1996. Laurence Tribe, a constitutional law professor at Harvard Law School, said the legal basis of the trillion dollar coin is sound and that the coin could not be challenged in court as no one would have standing to do so. Professor Jonathan H. Adler of the Case Western Reserve University School of Law has said that he believes the legality of the trillion dollar coin to be dubious. The idea for the Treasury Department to mint a coin and send it to the Federal Reserve in order to pay off the debt was first popularized by Populist