To split or keep together, for Newfoundland

Maybe not the right forum, but I was unsure where to put this:

I am looking at the Newfoundland notes, and see the notes from 1888 have both a value and a redeemed value. Eg. this note here: http://www.banknote.ws/COLLECTION/countries/AME/NFL/NFLS0112.htm

Before I add it, I considered splitting it into a 2 Dollar and a 40 Cents version. So a Normal version and a overstamped version. SCWPM doesn't seem to mentioned the overstamped version, more than in a side note. Internet isn't to much help what the meaning of the overstamp is.

I suspect these notes were more a promis of money than what we think of today as money. So when the bank recived them, you would get a frection of it back or in the bank or something..?

Little help here would be appriciated, so we can make as complete a catalog as possible :D

What a curious emission! Like what we see happening with countermarked coins, it seems to me that this note had its value reduced from 2 dollars to 40 cents!

I don't know how this happened, but there must be some research or documentation about this.

Thank you for bringing us this curiosity! Let's hope someone can clarify this fact for us quickly! =)

Regards,

Vladimir

I know the peculiar value of 40 Cents at least is due to the exchange with Pounds, where there were 4 Dollars on a Pound Sterling. But still hope for some more information on the 1888 issue of Newfoundland Dollar and the overstamp in particular 😁

Hello! Can we get the full text of this overprint?

I don't think I was able to read just what comes after the "act".

"The payment of this note is guar

anteed by The Government of

Newfouland in the sum of 

FORTY CENTS,

under the Terms of the Act ??? 

Cap 2 (Second Session)."

My best guess is that the SCWPM did not consider the overprinted issue to be a Newfouland Government issue of 40 Cents on P#S112. Again, just a guess.

Then I would have to try to research a little more about it.

Greetings!

Vladimir

I wrote a mail to the Bank of Canada Museum, and they got back with this link as told me to down to the section called “Financial panic and the fall of the Newfoundland banks”, where there is a 20 Dollar of the 1888 series.

https://www.bankofcanadamuseum.ca/2024/03/welcoming-newfoundland-to-canada/

Haven't read that part of the blog post in full yet, but it seems like a devalue of the note, after the bank collapse… Kind of like when the Brazilian currency was restructured, instead of printing new notes, they just overstamped existing notes.

So I will argue the notes should be split in the original value and the restamped one.