British Columbia dollar facts for kids
The dollar was the money used in British Columbia a long time ago, between 1865 and 1871. It took the place of the British pound, which was the money used before that. One British pound was worth about 4.866 dollars. This dollar was just like the Canadian dollar we use today, which eventually replaced it. Each dollar was split into 100 smaller parts called cents. British Columbia didn't make its own special coins. Instead, people used regular Canadian coins.
The British Columbia Dollar: A Look Back
How British Columbia Got Its Own Dollar
The dollar was first used as money in Vancouver Island in 1863. Vancouver Island was a separate colony back then. Later, in 1866, Vancouver Island and British Columbia joined together to form the united colony. So, the dollar became the money for this new, bigger colony too.
It's important not to mix up this old dollar with a special coin made much later. In 1971, a large dollar coin was made to celebrate 100 years since British Columbia joined Canada. That's a different coin!
Paper Money: Banknotes and Treasury Notes
Even though the dollar officially became the money of the colony in 1865, paper money was already being used since 1862. These paper bills were called "notes" and were measured in dollars.
There were two main types of notes:
- Treasury notes: These were like government money. They came in amounts of 5, 10, and 25 dollars.
- Banknotes: These were issued by banks, like the Bank of British Columbia. They came in amounts of 1, 5, 20, 50, and 100 dollars.
