New Brunswick pound


New Brunswick pound

The pound was the currency of New Brunswick until 1860. It was subdivided into 20 shillings, each of 12 pence, with the dollar (initially the Spanish dollar) circulating at a value of 5 shillings (the Halifax rating).

Contents

History

In 1852, New Brunswick adopted the same standard for its pound as the Province of Canada was using,[1] with 1 British pound = 1 pound 4 shillings 4 pence local currency (see Canadian pound). The pound was replaced by the dollar in 1860, at a rate of 1 dollar = 5 shillings.

Coins

In addition to British coins and Spanish dollars, copper tokens were issued in 1834 and 1854 in denominations of ½ and 1 penny.

Banknotes

Five chartered banks issued notes, the Bank of Fredericton (1837-1838), the Bank of New Brunswick (1820-1860), the Central Bank of New Brunswick (1847-1860), the Charlotte County Bank (1852-1859) and the Commercial Bank of New Brunswick (1837-1860). Denominations issued were 5, 7½ and 10 shillings, 1, 2, 3, 5, 10 and 25 pounds. Some of the Bank of New Brunswick and Central Bank of New Brunswick's notes also bore the denomination in dollars.

See also

References

  1. ^ [1] A History of the Canadian Dollar

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