New Brunswick pound facts for kids
Quick facts for kids New Brunswick pound |
|
|---|---|
| User(s) |  New Brunswick |
| Subunit | |
| 1⁄20 | shilling |
| 1⁄240 | penny |
| 1⁄480 | sou |
| Symbol | £ |
| shilling | s or /– |
| penny | d |
| Plural | pounds |
| shilling | shillings |
| penny | pence |
| sou | sous |
Imagine a time when Canada used different money! The pound was the main type of money used in New Brunswick a long time ago, up until 1860. It was like their version of the dollar.
One pound was split into 20 smaller parts called shillings. Each shilling was then divided into 12 pence. People also used dollars, especially the Spanish dollar, which was worth about 5 shillings.
Contents
The Story of the New Brunswick Pound
The money system in New Brunswick changed over time. In 1852, New Brunswick decided to use the same rules for its pound as the Province of Canada did. This meant that one British pound (called a pound sterling) was worth a bit more than one New Brunswick pound.
The pound was eventually replaced by the dollar in 1860. At that time, one dollar was worth 5 shillings. This change made the money system simpler and more like what we use today.
Coins Used in New Brunswick
People in New Brunswick used different types of coins. They used regular British coins and also Spanish dollars.
Special copper tokens were also made. These tokens were like small coins. They were released in 1834 and again in 1854. These tokens came in values of half a penny (1⁄2d) and one penny (1d).
Banknotes and Paper Money
Several banks in New Brunswick printed their own paper money, called banknotes. These were like the paper bills we use today. Five different banks were allowed to issue these notes.
Banks That Issued Notes
- The Bank of Fredericton (from 1837 to 1838)
- The Bank of New Brunswick (from 1820 to 1860)
- The Central Bank of New Brunswick (from 1847 to 1860)
- The Charlotte County Bank (from 1852 to 1859)
- The Commercial Bank of New Brunswick (from 1837 to 1860)
Values of Banknotes
The banknotes came in many different values. Some of the smaller values were 5 shillings, 7 shillings, and 10 shillings. Larger values included £1, £2, £3, £5, £10, and even £25. Some notes from the Bank of New Brunswick and the Central Bank of New Brunswick also showed their value in dollars, which helped people get ready for the new dollar currency.
See also
