The pound was the currency of

South Carolina )'' Animis opibusque parati'' ( for, , Latin, Prepared in mind and resources, links=no) , anthem = " Carolina";" South Carolina On My Mind" , Former = Province of South Carolina , seat = Columbia , LargestCity = Charleston , LargestMetro = ...

until 1793. Initially, sterling coin circulated, supplemented from 1703 by local paper money.Newman, 2008, p. 405. Although these notes 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 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. The State of South Carolina 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

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 = shillings (8 dollars = 13 pounds). 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 official ...

at a rate of 1000 continental dollars = 1 U.S. dollar. (See

hyperinflation In economics, hyperinflation is a very high and typically accelerating inflation. It quickly erodes the real value of the local currency, as the prices of all goods increase. This causes people to minimize their holdings in that currency as ...

References

Notes

Bibliography

*Newman, Eric P. ''The Early Paper Money of America''. 5th edition. Iola, Wisconsin: Krause Publications, 2008. . Historical currencies of the United States 1793 disestablishments in the United States Pre-statehood history of South Carolina Economy of South Carolina {{SouthCarolina-stub