Canada used the British pound system before adopting the decimal system in 1858. In 1858, the Province of Canada issued 20-cent coins. After Confederation, they were recalled and melted in 1870 when the 25-cent coin was chosen as the standard denomination. Between 1870 and 1923, Canada had a 25-cent bank note. The first $2 coin was issued in Newfoundland in 1865 and made of 22K gold. It became legal tender in Canada when Newfoundland joined Canadian Confederation in 1949.