- Canadian pound
The pound was the currency of
Canadauntil 1858. It was subdivided into 20 " shillings", each of 12 "pence". In Lower Canada, the "sou" was used, worth ½ penny.
Although initially based on the
British pound, with some British coins circulating, the scarcity of British coins led to the widespread use of Spanish dollars. These were accommodated into the £sdby setting a valuation for these coins. In Canada, the Halifax ratingdominated, setting the Spanish dollar equal to 5 shillings. As this was 6 pence more than its value in silver, the Canadian pound was consequently lower in value than sterling. The York ratingof 1 Spanish dollar = 8 shillings was used in Upper Canada, officially until its outlawing in 1796, unofficially well into the 19th century.
In 1841, the
Province of Canadaadopted a new, gold standard. The pound was equal to 4 U.S. dollars(92.88 grains gold), with the gold sovereignequal to 1 pound 4 shillings 4 pence. Thus, the Canadian pound was worth 16 shillings 5.3 pence sterling. This system persisted until 1858, when the Province of Canada decimalized, with the Canadian dollarequal to the U.S. dollar or 5 shillings of the previous currency.
Upper Canada( Canada West, modern Ontario) and Lower Canada( Canada East, modern Québec) issued copper tokens. Between 1835 and 1852, the " Bank of Montreal", the "Banque de Peuple", the "City Bank" and the "Quebec Bank" issued 1 and 2 sou (½ and 1 penny) tokens for use in Lower Canada. The " Bank of Upper Canada" issued ½ and 1 penny tokens between 1850 and 1857.
On notes issued by the chartered banks, denominations were given in both dollars and pounds/shillings, with 1 dollar = 5 shillings. Many banks issued notes, starting with the
Bank of Montrealin 1817. See Canadian chartered bank notesfor more details. Denominations included 5, 10 and 15 shillings, 1, 1¼, 2½, 5, 12½ and 25 pounds. In addition, small value, "scrip" notes were issued in 1837, by the Quebec Bank, in denominations of 6 pence (12 sous), ¼ and ½ dollar, and by "Arman's Bank", in denominations of 5, 10 and 15 pence (10, 20 and 30 sous).
*numis cite SCWC|date=1979
*numis cite SCWPM|date=1990.s
Standard numismatics external links
world_coin_gallery_1_url = Canada
world_coin_gallery_1_name = Canada
gfd_1_url = Canada
gfd_1_name = Canada
gfd_data_1_url = 4004
gfd_data_1_name = Canada pound
show_gfd_excel = Y
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