page_title: History of the Canadian dollar
section_title: Nova Scotia
hierarchical_section_title: History of the Canadian dollar / From the British pound to the Canadian dollar: 1825–1867 / Movement towards the dollar and decimal currency / Nova Scotia
caption_attribution_description: This Nova Scotia one cent coin was issued in Nova Scotia, Canada six years before Canada became a nation in 1867.
context_page_description: Canada has an extensive history with regard to its currencies. Prior to European contact, indigenous peoples in Canada used items such as wampum and furs for trading purposes, which continued when trade with Europeans began.
  Wampum and beaver pelts were considered currency. During the period of French colonization, coins were introduced, as well as one of the first examples of paper currency by a western government. During the period of British colonization, additional coinage was introduced, as well as banknotes. The Canadian colonies gradually moved away from the British pound and adopted currencies linked to the United States dollar. With Confederation in 1867, the Canadian dollar was established. By the mid-20th century, the Bank of Canada was the sole issuer of paper currency, and banks ceased to issue banknotes.
  Canada began issuing its own coins shortly after Confederation. In the 20th century, Canada has issued many commemorative coins into circulation, temporarily replacing current coinage designs. There also exists a long history of numismatic coin issues.
context_section_description: In 1860, Nova Scotia adopted a system of decimalization, and set the exchange rates for British currency as well as other coins. The provincial government was authorised to obtain coins in cents, and the unit of account for the government was to be in dollars and cents. All court judgments were to be issued in dollars and cents. However, since the Nova Scotia legislation set the exchange rate as £1 equal to $5, the Nova Scotia system was not compatible with the Canadian and New Brunswick systems, which gave a slightly lower value to the pound. Nova Scotia also ordered coins from the Royal Mint in 1860, but like New Brunswick, the first shipment of Nova Scotia coins did not arrive until 1862.
caption: Nova Scotia one cent coin, 1861
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