Nova Scotian dollar

Nova Scotian dollar

Nova Scotia half-cent and one cent coins
Unit
Symbol	$ ‎
Denominations
Subunit
1⁄100	cent
Symbol
cent	¢
Banknotes	$5 $20
Coins	½¢ 1¢
Demographics
Replaced	Nova Scotian pound
Replaced by	Canadian dollar
User(s)	Nova Scotia
Valuation
Pegged with	CA$1=$1.02774922919
This infobox shows the latest status before this currency was rendered obsolete.

The dollar was the currency of Nova Scotia between 1860 and 1871. ^[1] It replaced the Nova Scotian pound at a rate of 5 dollars = 1 pound (1 dollar = 4 shillings) and was consequently worth less than the Canadian dollar (worth 4s 1.3d). The Nova Scotian dollar was replaced by the Canadian dollar at a rate of 73 Canadian cents = 75 Nova Scotian cents, ^[2] thus maintaining the difference between the two currencies established in 1860.

Coins

Between 1861 and 1864, bronze ½ and 1 cent coins were issued. These were the only coins issued for the Nova Scotian dollar. A half-cent coin was required because British six-pence coins in circulation were valued at 12½ Nova Scotian cents. ^[3]

Banknotes

Between 1861 and 1866, the Provincial Government introduced Treasury notes for 5 dollars. In addition, three chartered banks issued paper money in Nova Scotia, the Bank of Nova Scotia , the Halifax Banking Company and the Merchants Bank of Halifax. The private banks all issued notes in a single denomination, 20 dollars. They later issued notes in Canadian dollars.

The Province of Canada issued notes dated 1866 overprinted with "Payable in Halifax / only". These were for circulation in Nova Scotia as local currency. Notes for 5 dollars were issued, worth $4.86 in Canadian currency. ^[1]

References

1. "A History of the Canadian Dollar - by James Powell - Bank of Canada". Archived from the original on 2011-11-24. Retrieved 2011-11-26.] A History of the Canadian Dollar
2. Canada Gazette, 9-10 Edward VII, Chapter 14, page 29, paragraph 17, June 4, 1910
3. ’’Canadian Coins’’, 60th Anniversary Edition, A Charlton Standard Catalogue, 2006, Toronto, p. 27

• Krause, Chester L.; Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed.). Krause Publications. ISBN   0873411501.
• Pick, Albert (1990). Bruce, Colin R. II; Shafer, Neil (eds.). Standard Catalog of World Paper Money: Specialized Issues (6th ed.). Krause Publications. ISBN   0-87341-149-8.