History of Newfoundland Currency
Prior to confederation with Canada, Newfoundland had its own currency. From 1865 until 1949 Newfoundland had its own dollar. It was divided similarly to the Canadian currency we use today.
The Dominion introduced coins in 1865. The coins were in denominations of 1, 5, 10, 20 cents, and 2 dollars. In 1870, 50-cent coins were introduced. By 1917, 20 cents was replaced by a 25-cent coin with the 1-cent coin being introduced in 1938. It is not uncommon to find Newfoundland pennies in collectible stores today.
The Commercial Bank of Newfoundland started issuing banknotes in 1865. In the 1880s, both the Commercial Bank and the Union Bank of Newfoundland issued notes in dollars. Banknotes of 2, 5, 10, 20 and 50 dollars were issued. Both of these banks crashed in 1894.
Cash notes were introduced in 1901 in denominations of 40, 50 and 80 cents, 1 and 5 dollars. 25-cent coins were issued in 1910 and by 1920 1 and 2-dollar notes were issued.