2 Dollars

The Union Bank of Newfoundland was chartered in 1854 and operated as one of the colony's two dominant commercial banks until its absorption into the Bank of Montreal in 1901. By 1882, Newfoundland remained outside Canadian Confederation — it would not join until 1949 — meaning this note circulated under a distinct colonial monetary regime, legally separate from the Dominion of Canada's banking framework.

The American Bank Note Company contract for this series is consistent with ABNC's near-monopoly on colonial and private bank printing across North America in this period. Newfoundland's geographic isolation made New York the practical choice over any local press.