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South Carolina pound

South Carolina pound

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The pound was the currency of South Carolina
South Carolina
South Carolina is a state in the Deep South of the United States that borders Georgia to the south, North Carolina to the north, and the Atlantic Ocean to the east. Originally part of the Province of Carolina, the Province of South Carolina was one of the 13 colonies that declared independence...

 until 1793. Initially, the British pound circulated, supplemented from 1703 by local paper money. Although these notes were denominated in pounds, shilling
Shilling
The shilling is a unit of currency used in some current and former British Commonwealth countries. The word shilling comes from scilling, an accounting term that dates back to Anglo-Saxon times where it was deemed to be the value of a cow in Kent or a sheep elsewhere. The word is thought to derive...

s and pence
Penny
A penny is a coin or a type of currency used in several English-speaking countries. It is often the smallest denomination within a currency system.-Etymology:...

, they were worth less than sterling, with 1 South Carolina shilling = 8 pence sterling. The first issues were known as "Proclamation Money". They were replaced by the "Lawful Money" issue in 1748, with 1 Lawful shilling = 4⅔ Proclamation shillings.

The State of South Carolina issued Continental currency denominated in £sd and Spanish dollar
Spanish dollar
The Spanish dollar is a silver coin, of approximately 38 mm diameter, worth eight reales, that was minted in the Spanish Empire after a Spanish currency reform in 1497. Its purpose was to correspond to the German thaler...

s with 1 dollar = 32½ shillings (8 dollars = 13 pounds). The continental currency was replaced by the U.S. dollar at a rate of 1000 continental dollars = 1 U.S. dollar.