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The 1885 Newfoundland $2 Gold Coin in MS62+: Rare Yet Surprisingly Affordable

September 10, 2025
Despite its age, gold content, and historical significance, the 1885 Newfoundland $2 gold coin graded MS62 or better remains relatively undervalued in the numismatic world. Here’s why this coin is a hidden gem for collectors—and why it hasn’t reached the lofty prices one might expect.

A Brief History of the 1885 Newfoundland $2 Gold Coin

    • Minted in 1885, this coin was part of a short-lived series issued by the colony of Newfoundland between 1865 and 1888.

    • Mintage: Only 10,000 coins were struck in 1885, making it a low-mintage issue even by 19th-century standards.

    • Composition: The coin is made of 91.7% gold and 8.3% copper, weighing 3.33 grams with a diameter of 17.98 mm.

    • Design: Created by Leonard C. Wyon, the obverse features Queen Victoria with the inscription “VICTORIA D: G: REG: NEWFOUNDLAND,” while the reverse displays the denomination and date within a circular border.

    • Purpose: These coins were intended to facilitate trade and commerce in Newfoundland, which had its own currency system separate from mainland Canada until it joined Confederation in 1949.

Market Value and MS62+ Grading

    • MS62 (Mint State 62) indicates a coin that is uncirculated and It’s amazing that it survived in this condition  over 140 years.

    • Current market value: Coins graded MS62 typically sell for $1,300 to $1,700 CAD, while MS63 and MS64 examples can reach $2,300 to $5,000 CAD.

    • Melt value: Based on gold content alone, the coin’s melt value is around $530 CAD, which sets a floor for its pricing.

Investment Potential?

Newfoundland gold coins have illustrated a very strong demand in recent years with examples selling above auction estimates and above book values, here are a few reasons we see this trend continuing:

    • Appeal to non-collectors: Newfoundland gold coinage has a broad appeal and we have seen many high profile public figures and celebrities purchasing these coins even though they do not consider themselves as collectors.

    • Small size and weight: At just 3.33 grams, it’s a tiny gold coin. This makes the $2 gold ideal to wear as a pendant and makes a perfect gift item (We would recommend a skilled jeweler – to place the coin in a bezel so that it is not damaged)

    • Hoarders: There are many collectors who are very passionate about the $2 gold and jump at the opportunity to purchase them whenever they hit the market. Due to this fact, they are rarely available at coin shows and bidding at auctions if very spirited.

    • Historical Significance: Newfoundland was the only British Commonwealth nation to have its own gold issue and the coin shows its denomination in 3 different values: Two dollars, Two Hundred Cents and One Hundred Pence. People are so passionate about this coin, there has even been books written about it.

Final Thoughts

The 1885 Newfoundland $2 gold coin is a fascinating piece of Canadian colonial history. For collectors, it offers a unique blend of scarcity, gold content, and historical charm—all at a price that’s still accessible.

Want to explore more hidden treasures in Canadian coinage? Let’s dive into another era or denomination next!

Rod O’Driscol

Buyer / Author
For a list of all the items we buy, view them here. If you want, we can come to your home to give you our best cash offer and remember there is never any obligation to sell. Our appraisals are free unless you need a written report for insurance or estate purposes. We will travel throughout Canada to purchase large collections.

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