South_Carolina_pound

South Carolina pound

South Carolina pound

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The pound was the currency of South Carolina until 1793. Initially, sterling coin circulated, supplemented from 1703 by local paper money.[1] Although these notes were denominated in £sd, they were worth less than sterling, with 1 South Carolina shilling = 8d sterling. The first issues were known as "Proclamation Money". They were replaced by the "Lawful Money" issue in 1748, with 1 Lawful shilling = 4⅔ Proclamation shillings.

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The State of South Carolina issued Continental currency denominated in £sd and Spanish dollars with 1 dollar = 32+1⁄2 shillings (8 dollars = 13 pounds). The continental currency was replaced by the U.S. dollar at a rate of 1000 continental dollars = 1 U.S. dollar. (See hyperinflation.)

References

Notes

  1. [1]
    Newman, 2008, p. 405.

Bibliography

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


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