The pound (symbol: £) was the currency of

North Carolina North Carolina () is a state in the Southeastern region of the United States. The state is the 28th largest and 9th-most populous of the United States. It is bordered by Virginia to the north, the Atlantic Ocean to the east, Georgia and ...

until 1793. Initially, sterling coin circulated, supplemented from 1709 by the introduction of colonial currency denominated in pounds,

shillings The shilling is a historical coin, and the name of a unit of modern currencies formerly used in the United Kingdom, Australia, New Zealand, other British Commonwealth countries and Ireland, where they were generally equivalent to 12 pence or ...

and pence in 1712. The North Carolina currency was worth less than sterling, with a rating of 1 North Carolina shilling = 9 pence sterling (or 1 North Carolina pound to 15 shillings sterling). The first issue of paper money was known as "Old Tenor" money. In 1748, "New Tenor" paper money was introduced, worth times the Old Tenor notes.Newman, 2008, p. 316. The State of North Carolina issued continental currency 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 at 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 ...

of 1 dollar = 8 shillings. 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 1000 continental dollars = 1 U.S. dollar.

Notes

References

*Newman, Eric P. ''The Early Paper Money of America''. 5th edition. Iola, Wisconsin: Krause Publications, 2008. .
Cory Cutsail, Farley Grubb. 2018. The Paper Money of Colonial North Carolina, 1712-74: Reconstructing the Evidence. NBER paper.
1793 disestablishments in North Carolina Economy of North Carolina Historical currencies of the United States Pre-statehood history of North Carolina {{NorthCarolina-stub