The pound was the currency of New Brunswick until 1860. It was divided into 20 shillings, each of 12 pence, with the dollar (initially the Spanish dollar) circulating at a value of 5/â (the Halifax rating).
In 1852, New Brunswick adopted the same standard for its pound as the Province of Canada was using, with ã1 stg. = ã1.4s.4d local currency (see Canadian pound). The pound was replaced by the dollar in 1860, at a rate of 1 dollar = 5 shillings.
In addition to sterling coin and Spanish dollars, copper tokens were issued in 1834 and 1854 in denominations of d and 1d.
Five chartered banks issued notes, the Bank of Fredericton (1837-1838), the Bank of New Brunswick (1820-1860), the Central Bank of New Brunswick (1847-1860), the Charlotte County Bank (1852-1859) and the Commercial Bank of New Brunswick (1837-1860). Denominations issued were 5/âÂÂ, 7/â and 10/âÂÂ, ã1, ã2, ã3, ã5, ã10 and ã25. Some of the Bank of New Brunswick and Central Bank of New Brunswick's notes also bore the denomination in dollars.