South Carolina pound

15s Colonial currency from South Carolina (10 April 1778).

The pound was the currency of South Carolina until 1793. Initially, the British pound circulated, supplemented from 1703 by local paper money. Although these notes were denominated in pounds, shillings and pence, they were worth less than sterling, with 1 South Carolina shilling = 8 pence 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 denominated in £sd and Spanish dollars with 1 dollar = 32½ 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

Bibliography

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