Nova Scotian dollar facts for kids
The dollar was the money used in Nova Scotia, a province in Canada, between 1860 and 1871. Before this, Nova Scotia used a currency called the Nova Scotian pound. The new dollar replaced the pound at a rate of 5 dollars for every 1 pound. This meant that one Nova Scotian dollar was worth less than the Canadian dollar at the time. In 1871, the Nova Scotian dollar was replaced by the Canadian dollar. The exchange rate was set so that 75 Nova Scotian cents were equal to 73 Canadian cents. This kept the value difference between the two currencies.
Coins of Nova Scotia
Between 1861 and 1864, Nova Scotia made its own bronze coins. These coins came in two values: a half-cent and a one-cent coin. These were the only coins ever made specifically for the Nova Scotian dollar.
A half-cent coin was needed because British six-pence coins were also used in Nova Scotia. These British coins were worth 12½ Nova Scotian cents. Having a half-cent coin made it easier to give exact change.
Paper Money in Nova Scotia
Between 1861 and 1866, the government of Nova Scotia printed its own paper money called Treasury notes. These notes were for 5 dollars.
Besides the government, three special banks also printed paper money in Nova Scotia:
- The Bank of Nova Scotia
- The Halifax Banking Company
- The Merchants Bank of Halifax
These private banks mostly printed notes for a single value: 20 dollars. Later, these banks started printing notes in Canadian dollars instead.
The Province of Canada also printed some notes dated 1866. These notes had "Payable in Halifax / only" printed on them. This meant they could be used as local money in Nova Scotia. These notes were for 5 dollars, and they were worth about $4.86 in Canadian money.
