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Nova Scotian dollar

Historical currency of Nova Scotia

Summary

Historical currency of Nova Scotia

Field	Value
image_1	Coins of Nova Scotia.jpg
image_title_1	Nova Scotia half-cent and one cent coins
replaced_currency	Nova Scotian pound
replaced_by_currency	Canadian dollar
using_countries	Nova Scotia
subunit_ratio_1
subunit_name_1	cent
symbol	$
symbol_subunit_1	¢
used_coins
coin_article	Coins of the Nova Scotian dollar
used_banknotes
pegged_with	CA$1=$1.02774922919
obsolete	yes

The dollar was the currency of Nova Scotia between 1860 and 1871. 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, 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.

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.

References

"A History of the Canadian Dollar - by James Powell - Bank of Canada".
[https://recherche-collection-search.bac-lac.gc.ca/eng/home/record?app=cangaz&IdNumber=4165 ''Canada Gazette'', 9-10 Edward VII, Chapter 14, page 29, paragraph 17, June 4, 1910]
’’Canadian Coins’’, 60th Anniversary Edition, A Charlton Standard Catalogue, 2006, Toronto, p. 27

Wikipedia Source

This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page.

currencies-of-canada modern-obsolete-currencies 1860-establishments-in-nova-scotia 1871-disestablishments-in-canada economy-of-nova-scotia 19th-century-in-nova-scotia 19th-century-in-economic-history 1860-establishments-in-canada dollar

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