The pound was the currency of

Rhode Island Rhode Island ( ) is a state in the New England region of the Northeastern United States. It borders Connecticut to its west; Massachusetts to its north and east; and the Atlantic Ocean to its south via Rhode Island Sound and Block Is ...

until 1793. Initially, sterling coin and foreign coins circulated, supplemented by local paper money from 1710.Newman, 2008, p. 371. These notes were denominated in

£sd file:Guildhall Museum Collection- Drusilla Dunford Money Table Sampler 3304.JPG, A Sampler (needlework), sampler in the Rochester Guildhall, Guildhall Museum of Rochester, Medway, Rochester illustrates the conversion between pence and shillings ...

, but they were worth less than sterling, with 1 Rhode Island shilling = 9d sterling. The first issue of notes was known as the "Old Tenor" issue. This fell in value and "New Tenor" notes were introduced in 1740, worth four times the Old Tenor notes. Both Old and New Tenor notes were replaced in 1763 by "Lawful money" at a rate of 1 Lawful shilling = New Tenor shillings = old Tenor shills. The state of Rhode Island issued Continental currency denominated in £sd and

Spanish dollar The Spanish dollar, also known as the piece of eight (, , , 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 fine silver. It w ...

s, with 1 dollar = 6 shillings. The continental currency was replaced by the U.S. dollar at a rate of 1,000 continental dollars = 1 U.S. dollar.

References

Notes

Bibliography

*Newman, Eric P. ''The Early Paper Money of America''. 5th edition. Iola, Wisconsin: Krause Publications, 2008. . Historical currencies of the United States 1793 disestablishments in the United States Pre-statehood history of Rhode Island Pound (currency) {{RhodeIsland-stub