New Jersey pound

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The pound was the currency of New Jersey until 1793. Initially, the British pound circulated, supplemented from 1709 by local paper money. However, although the notes were denominated in pounds, shillings and pence, they were worth less than sterling, with 1 New Jersey shilling = 9 pence sterling. In 1746, the New Jersey currency was pegged to silver at a rate of 1 pound currency = 2 ounces 18 pennyweights 8 grains (1400 grains) of silver.

The State of New Jersey issued Continental currency denominated in £sd and Spanish dollars, with 1 dollar = 7 shillings 6 pence. The continental currency was replaced by the U.S. dollar at the rate of 1000 continental dollars = 1 U.S. dollar.

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