Halifax rating
From Wikipedia, the free encyclopedia
 |
This article does not cite any references or sources. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (December 2009) |
The Halifax rating was a valuation of the Spanish dollar in the £sd accounting system. It set the Spanish dollar at a value of 5 shillings and was established c.1750 in Halifax, Nova Scotia. The rating was 6 pence higher than the actual silver content of the coins should have allowed in order to keep the coins in circulation as there was no advantage to melting the coins for their bullion content.
The Halifax rating was used officially in Upper and Lower Canada until 1841 when the gold standard was adopted for the dollar; however, United Empire Loyalists brought the York rating into Upper Canada, where it persisted well into the 19th century despite its outlawing (in favour of the Halifax rating) in 1796.
 |
This money or currency-related article is a stub. You can help Wikipedia by expanding it. |
