Virginia pound

Thepoundwas the currency ofVirginiauntil 1793. Initially,sterling coincirculated along with foreign currencies, supplemented from 1755 by local paper money.^[1]Although these notes were denominated in£sd,they were worth less than sterling, so 1 Virginia shilling was equal to 9d sterling.

Colonial legislation[edit]

In 1645 the legislature of theColony of Virginiaprohibited barter, and valued theSpanish dollarorpiece of eightat 6/–. The 1655 legislature officially devalued the Spanish dollar to 5/-.

Virginia coinage[edit]

The first "official" coinage inBritish North Americawas issued by theProvince of Virginiain 1775, although they were dated 1773. The reason was that theVirginia House of Burgesseshad been requesting the coinage for several years andKing George IIIfinally consented in that year.

Five tons of coins were sent to the colony on the clipper shipVirginiaand most of the coins were distributed just before the breakout of theAmerican Revolutionin April 1775. They are considered to be the most affordable Colonial American coinage. It was valued more thanNorth Carolina,andNew Yorkpounds at the time.^[2]

Continental currency[edit]

The State of Virginia issuedContinental currencydenominated in £sd and Spanish dollars, with 1 dollar = 6/–. The continental currency was replaced by theU.S. dollarat a rate of 1000 continental dollars = 1 U.S. dollar.

References[edit]

Notes[edit]

^Newman, 2008, p. 437.
^Manufacturers and Farmers Journal.Manufacturers and Farmers Journal.

Bibliography[edit]

Newman, Eric P.The Early Paper Money of America.5th edition. Iola, Wisconsin: Krause Publications, 2008.ISBN 0-89689-326-X.

v t e Currency units namedpound,lira,or similar
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Historical antecedents (mass)	Roman pound(libra) Moneyer's pound(England) Grzywna(Grivna)
See also	Pound sign(£) Dinar Pound (mass)(℔) Roman currency Carolingian monetary system £sd