The pound (symbol:
£) was the currency of
North Carolina until 1793. Initially,
sterling coin circulated, supplemented from 1709 by the introduction of
colonial currency denominated in
pounds,
shillings and pence in 1712. The North Carolina currency was worth less than sterling, with a rating of 1 North Carolina shilling = 9 pence sterling (or 1 North Carolina pound to 15 shillings sterling). The first issue of paper money was known as "Old Tenor" money. In 1748, "New Tenor" paper money was introduced, worth times the Old Tenor notes.
[Newman, 2008, p. 316.]
The State of North Carolina issued
continental currency
Early American currency went through several stages of development during the colonial and post-Revolutionary history of the United States. John Hull was authorized by the Massachusetts legislature to make the earliest coinage of the colony (the ...
denominated in £sd and
Spanish dollars at the
York rating
The York rating was a valuation of the Spanish dollar in the £sd accounting system. It set the dollar equal to 8 shillings (1 real = 1 shilling). The rating was named after the colony of New York where it was adopted (see New York pound). It was a ...
of 1 dollar = 8 shillings. The continental currency was replaced by the
U.S. dollar at a rate of 1000 continental dollars = 1 U.S. dollar.
Notes
References
*Newman, Eric P. ''The Early Paper Money of America''. 5th edition. Iola, Wisconsin: Krause Publications, 2008. .
Cory Cutsail, Farley Grubb. 2018. The Paper Money of Colonial North Carolina, 1712-74: Reconstructing the Evidence. NBER paper.
1793 disestablishments in North Carolina
Economy of North Carolina
Historical currencies of the United States
Pre-statehood history of North Carolina
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