Prince Edward Island dollar

Prince Edward Island dollar

The dollar was the currency of Prince Edward Island between 1871 and 1873. It replaced the pound at a rate of 1 pound = 4.866 dollars and was equivalent to the Canadian dollar, which replaced it in 1873. The dollar was subdivided into 100 cents.

Contents

Coins

Only one type of coin, the one-cent piece, was struck for the Prince Edward Island dollar, in 1871. PEI entered Confederation two years later.

Both sides of the coin were designed by Leonard Charles Wyon. The observe had Queen Victoria, with inscription "VICTORIA QUEEN" and the date. The reverse was specially made for the PEI government. It had the seal of the colony—a large oak tree, sympolising England, sheltering three younger ones, which symbolised Prince Edward Island's three counties. Below the seal was located the Latin phrase "PARVA SUB INGENTI", translated as "The small beneath the great". Around the seal and phrase was written "PRINCE EDWARD ISLAND", and the denomination, "ONE CENT".

The coin was the produced at the Heaton Mint, due to the London Mint having to strike domestic coins. However, the "H" mint mark is missing. The coin is composed of 95% Cu. 4% Sn, and 1% Zn. It has a weight of 5.67 grams and a diameter of 25.40 mm. It has a plain edge.

Two million one-cent pieces were minted. PEI's government would experience difficulties in placing the coins in circulation—10 years were needed for the government to get rid of them. The last of the coins were sold at a 10 percent discount.

Banknotes

In 1872, Treasury notes were issued in denominations of 10 and 20 dollars. The same year, two chartered banks, the Bank of Prince Edward Island and the Union Bank of Prince Edward Island began issuing dollar notes in denominations of 1, 2, 5, 10 and 20 dollars. The private banks went on to issue notes in Canadian dollars, the first of which were earlier notes with "Canadian Currency" overstamped on them.

See also

References

  • Krause, Chester L. and Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed. ed.). Krause Publications. ISBN 0873411501. 
  • Pick, Albert (1990). Standard Catalog of World Paper Money: Specialized Issues. Colin R. Bruce II and Neil Shafer (editors) (6th ed.). Krause Publications. ISBN 0-87341-149-8. 
  • W.K. Cross (2005). Canadian Coins (59 ed.). Toronto: Charlton Press. p. 33. ISBN 0889682887. 

External links


Wikimedia Foundation. 2010.

Игры ⚽ Поможем сделать НИР

Look at other dictionaries:

  • Prince Edward Island pound — The pound was the currency of Prince Edward Island until 1871. It was subdivided into 20 shillings , each of 12 pence . It was replaced by the dollar in 1871. British coins circulated, together with locally produced coins and paper money.CoinsThe …   Wikipedia

  • Prince-Edward-Island — Île du Prince Édouard Prinz Edward Insel Wappen Flagge (Details) …   Deutsch Wikipedia

  • Prince Edward Island — This article is about the Canadian province. For the sub Antarctic islands, see Prince Edward Islands. For other uses of PEI, see Pei (disambiguation). Prince Edward Island Île du Prince Édouard (French) …   Wikipedia

  • Dollar (disambiguation) — Dollar is a variety of currency units used in about two dozen countries. Dollar may refer to: Contents 1 Actual currency 2 Fictional currency 3 Other use 4 See also …   Wikipedia

  • Dollar sign — $ redirects here. For the unit of currency, see Dollar or Peso. For other uses, see $ (disambiguation). $ Dollar sign …   Wikipedia

  • Dollar — Dolar redirects here. For the Slovenian philosopher, see Mladen Dolar. For the municipality in Spain, see Dólar. For other uses, see Dollar (disambiguation). United States dollar bill The dollar (often represented by the dollar sign $) is the… …   Wikipedia

  • Coins of the Canadian dollar — Canadian coinage is the coinage of Canada, produced by the Royal Canadian Mint and denominated in Canadian dollars ($) or cents (¢). Contents 1 Denominations 2 Changes in coinage 3 Production …   Wikipedia

  • Coins of the Newfoundland dollar — The coins of Newfoundland are of historical importance as Newfoundland was a British colony until 1907, and a Dominion until 1949, when Newfoundland and Labrador became the tenth province of Canada. See also: Newfoundland dollar Contents 1… …   Wikipedia

  • Newfoundland dollar — $1 ISO 4217 code NFD …   Wikipedia

  • New Brunswick dollar — The dollar was the currency of New Brunswick between 1860 and 1867. It replaced the pound at a rate of 4 dollars = 1 pound (5 shillings = 1 dollar) and was equal to the Canadian dollar. The New Brunswick dollar was replaced by the Canadian dollar …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”