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
Dollar coin (United States) was the smallest denomination of gold currency ever produced by the United States federal government. When the U.S. system of coinage was originally designed there had been no plans for a gold dollar coin, but in the late 1840s, two gold rushes later, Congress was looking to expand the use of gold in the country’s currency. The gold dollar was authorized by the Act of March 3, 1849, and the Liberty Head type began circulating soon afterward. Because of the high value of gold, the gold dollar is the smallest coin in the history of U.S. coinage. The trade dollar