New York pound

The pound was the currency of the

province A province is almost always an administrative division within a country or sovereign state, state. The term derives from the ancient Roman ''Roman province, provincia'', which was the major territorial and administrative unit of the Roman Empire ...

and state of

New York New York most commonly refers to: * New York City, the most populous city in the United States, located in the state of New York * New York (state), a state in the northeastern United States New York may also refer to: Film and television * '' ...

until 1793. Initially, sterling coin circulated along with foreign currencies. This was supplemented by local paper money from 1709. Although these were denominated in

£sd £sd (occasionally written Lsd, spoken as "pounds, shillings and pence" or pronounced ) is the popular name for the pre-decimal currencies once common throughout Europe, especially in the British Isles and hence in several countries of the B ...

, they were worth one third less than sterling, with one New York shilling worth 8d sterling. The State of New York issued

Continental currency Early American currency went through several stages of development during the colonial and post-Revolutionary history of the United States. John Hull was authorized by the Massachusetts legislature to make the earliest coinage of the colony (the ...

denominated in £sd and

Spanish dollar The Spanish dollar, also known as the piece of eight ( es, Real de a ocho, , , or ), is a silver coin of approximately diameter worth eight Spanish reales. It was minted in the Spanish Empire following a monetary reform in 1497 with content ...

s, with 1 dollar = 8/–. This valuation of the Spanish dollar was known as the

York rating The York rating was a valuation of the Spanish dollar in the £sd accounting system. It set the dollar equal to 8 shillings (1 real = 1 shilling). The rating was named after the colony of New York where it was adopted (see New York pound). It was a ...

. The continental currency was replaced by the

U.S. dollar The United States dollar ( symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the officia ...

at a rate of 1,000 continental dollars = 1 U.S. dollar. Historical currencies of the United States 1793 disestablishments in New York (state) Pre-statehood history of New York (state) Economy of New York (state) {{NewYork-stub