World Library  
Flag as Inappropriate
Email this Article

Prince Edward Island dollar

Article Id: WHEBN0014409374
Reproduction Date:

Title: Prince Edward Island dollar  
Author: World Heritage Encyclopedia
Language: English
Subject: Canadian dollar, Newfoundland dollar, Currency Museum (Canada), Economy of Prince Edward Island, Nova Scotian pound
Publisher: World Heritage Encyclopedia

Prince Edward Island dollar

The dollar was the currency of Prince Edward Island between 1871 and 1873. It replaced the pound at a rate of 1 pound = 4.866 dollars and was equivalent to the Canadian dollar, which replaced it in 1873. The dollar was subdivided into 100 cents.


Only one type of coin, the one-cent piece, was struck for the Prince Edward Island dollar, in 1871. PEI entered Confederation two years later.

Both sides of the coin were designed by Leonard Charles Wyon. The obverse had Queen Victoria, with inscription "VICTORIA QUEEN" and the date. The reverse was specially made for the PEI government. It had the seal of the colony—a large oak tree, sympolising England, sheltering three younger ones, which symbolised Prince Edward Island's three counties. Below the seal was located the Latin phrase "PARVA SUB INGENTI", translated as "The small beneath the great". Around the seal and phrase was written "PRINCE EDWARD ISLAND", and the denomination, "ONE CENT".

The coin was the produced at the Heaton Mint, due to the London Mint having to strike domestic coins. However, the "H" mint mark is missing. The coin is composed of 95% Cu. 4% Sn, and 1% Zn. It has a weight of 5.67 grams and a diameter of 25.40 mm. It has a plain edge.

Two million one-cent pieces were minted. PEI's government would experience difficulties in placing the coins in circulation—10 years were needed for the government to get rid of them. The last of the coins were sold at a 10 percent discount.


In 1872, Treasury notes were issued in denominations of 10 and 20 dollars. The same year, two chartered banks, the Bank of Prince Edward Island and the Union Bank of Prince Edward Island began issuing dollar notes in denominations of 1, 2, 5, 10 and 20 dollars. The private banks went on to issue notes in Canadian dollars, the first of which were earlier notes with "Canadian Currency" overstamped on them.

See also


External links

  • Currency Reforms
This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.

Copyright © World Library Foundation. All rights reserved. eBooks from World eBook Library are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.