The pound was the currency of
Newfoundland until 1865. It was subdivided into 20 ''
shillings'', each of 12 ''
pence''. The Newfoundland pound was equal to
sterling and
sterling coin circulated, supplemented by locally produced tokens and banknotes. In 1865, the
''dollar'' was introduced at a rate of 1 dollar = 4s.2d., or 1 dollar = 50d.
Tokens
Tokens were privately produced for 1
farthing in 1829, and ½d in 1841, 1846 and 1860.
Banknotes
In 1854, the ''Union Bank of Newfoundland'' introduced £1 notes. The same denomination was issued by the ''Commercial Bank of Newfoundland'' from 1857. Both banks continued to issue notes 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 ...
after the introduction of the dollar, although they did issue dollar notes in the 1880s.
See also
*
Newfoundland dollar
The dollar was the currency of the Newfoundland Colony, colony of Newfoundland and, later, the Dominion of Newfoundland, from 1865 until 1949, when Newfoundland and Labrador, Newfoundland became a Provinces and territories of Canada, province of C ...
References
*
Currencies of Canada
Currencies of the British Empire
Modern obsolete currencies
1865 disestablishments
Economy of Newfoundland and Labrador
Pre-Confederation Newfoundland
1854 establishments in the British Empire
{{Newfoundland-stub, Dollar, Newfoundland