South Carolina pound
South Carolina pound | |
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South Carolina pound | |
Denominations | |
Demographics | |
User(s) | South Carolina |
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The pound was the currency of South Carolina until 1793. Initially, the British pound circulated, supplemented from 1703 by local paper money.[1] Although these notes were denominated in pounds, shillings and pence, they were worth less than sterling, with 1 South Carolina shilling = 8 pence sterling. The first issues were known as "Proclamation Money". They were replaced by the "Lawful Money" issue in 1748, with 1 Lawful shilling = 4⅔ Proclamation shillings.
The State of South Carolina issued Continental currency denominated in £sd and Spanish dollars with 1 dollar = 32½ shillings (8 dollars = 13 pounds). The continental currency was replaced by the U.S. dollar at a rate of 1000 continental dollars = 1 U.S. dollar. (See hyperinflation.)
References[]
Notes[]
- ^ Newman, 2008, p. 405.
Bibliography[]
- Newman, Eric P. The Early Paper Money of America. 5th edition. Iola, Wisconsin: Krause Publications, 2008. ISBN 0-89689-326-X.
Categories:
- Pound (currency)
- Historical currencies of the United States
- 1793 disestablishments in the United States
- Pre-statehood history of South Carolina
- Economy of South Carolina
- Currency stubs
- South Carolina stubs