North Carolina pound

North Carolina pound

North Carolina £3 banknote (obverse) North Carolina £3 banknote (reverse)
Unit
Plural	pounds
Symbol	£‎
Denominations
Banknotes
Freq. used	£1, £2, £5
Rarely used	£3
Coins	None
Demographics
User(s)	Province of North Carolina
Issuance
Central bank	North Carolina Treasury
Valuation
Pegged with	sterling at £1 N.C. = 15/- STG (£0.75 STG)

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.^[1] 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 7+1⁄2 times the Old Tenor notes.^[2]

The State of North Carolina issued continental currency denominated in £sd and Spanish dollars at the York rating 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.^{[citation needed]}

Notes

1. Newman, 2008, p. 313.
2. Newman, 2008, p. 316.

References

• Cory Cutsail, Farley Grubb. 2018. The Paper Money of Colonial North Carolina, 1712-74: Reconstructing the Evidence. NBER paper.
• Newman, Eric P. The Early Paper Money of America. 5th edition. Iola, Wisconsin: Krause Publications, 2008. ISBN 0-89689-326-X.