The 1949 Canada Newfoundland Dollar was a circulating commemorative issued to mark Newfoundland’s entry into the Canadian Confederation.
The reverse was designed by Thomas Shingles and features John Cabot’s ship, the Matthew, used by Cabot to discover Newfoundland. To the right of the ship are the designer’s initials TS. On the outer periphery are the words CANADA and DOLLAR. Below the ship is the phrase 'May the new found land flourish' in Latin, Floreat Terra Nova.
The obverse was designed by T.H. Paget and features the bust of monarch George VI of Great Britain facing left. Just below the bottom of the bust are the designers initials HP. On the outer periphery are the words GEORGIVS VI DEI GRATIA REX.
John Cabot's Matthew
Over 500 years ago (1497) John Cabot and his crew set sail for Asia aboard the Matthew hoping to trade goods and commodities with the people who lived there.
However, he finally arrived on the coast of Newfoundland and therefore was the original discoverer of America, not Christopher Columbus as most people are led to believe.
Though Cabot was Italian, his exploration was funded by England and endorsed on behalf of King Henry VII. The Matthew sailed under the flag of England and Cabot claimed land in the name of King Henry VII of England.
General Market Notes
From a value perspective, the Newfoundland dollar is a sleeper coin. The reason why the Newfoundland dollar is under valued is very simple. First, it is a low mintage coin (627,218 pieces). Second, it is in demand by three different collecting styles:
- Canadian dollar collectors
- Canadian commemorative collectors
- Canadian type set collectors
With collecting interests rapidly expanding in Canada and some of the excitement spilling over to other countries, such as the U.S. where collectors are interested in Canadian coinage, demand will more than likely exceed supply and drive up prices.