The pound was the currency of
Connecticut until 1793. Initially,
sterling coin circulated along with foreign currencies. This was supplemented by local paper money from 1709. Although the local currency was denominated in
£sd
£sd (occasionally written Lsd, spoken as "pounds, shillings and pence" or pronounced ) is the popular name for the pre-decimal currencies once common throughout Europe, especially in the British Isles and hence in several countries of the B ...
, it was worth less than sterling, with 1 Connecticut shilling = 9 pence sterling. This rated the
Spanish dollar
The Spanish dollar, also known as the piece of eight ( es, Real de a ocho, , , or ), is a silver coin of approximately diameter worth eight Spanish reales. It was minted in the Spanish Empire following a monetary reform in 1497 with content ...
at 6 Connecticut shillings (compared to 4 shillings 6 pence sterling). The first issue of notes is known as the "Old Tenor" issue.
Due to over issue, the value of the Old Tenor notes fell relative to silver coins. In 1740, a second series of paper money was introduced, known as the "New Tenor" issue. These were worth 3½ times as much as the same denomination of Old Tenor notes. A further issue of 1755, known as "Lawful Money", replaced the Old and New Tenor issues at the rates of 1 Lawful Money shilling = 2.1 New Tenor shillings = 7.33 Old Tenor shillings.
The State of Connecticut issued
Continental currency denominated in both £sd and Spanish dollars, with 1 Spanish dollar = 6 shillings. The Continental currency was replaced by the
U.S. dollar
The United States dollar (symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official ...
at the rate of 1000 Continental dollars = 1 U.S. dollar.
External links
Connecticut colonial money in the collection of the American Numismatic SocietyConnecticut shilling on world Banknotes catalogLouis Jordan
University of Notre Dame.
Historical currencies of the United States
Connecticut Colony
1793 disestablishments in the United States
Economy of Connecticut
{{Connecticut-stub