Playing cards were marked with the amount on the back and were given to soldiers as compensation. Instead, he issued three denominations of playing card money (15 sols, 40 sols, and 4 livres). His funds, both government and personal, were exhausted, and he did not want to borrow money at the rate offered by merchants. In 1685, he needed to pay soldiers for their services in a recent campaign. The first issue of playing card money was by Intendant Jacques de Meulles. Reproduction of playing card used as money Playing card money īy 1685, the coin shortage had grown so severe that colonial authorities resorted to using playing cards as currency. The over-stamped coins were then permitted to circulate.

The colonial government adopted a practice of over-stamping these coins with a fleur-de-lys and a Roman numeral indicating the weight of silver, and thus value. Spanish-American coins minted in Mexico, such as the piastre, would sometimes come in through secret trade. These coins had an assigned value higher than coins used in France (the monnoye de France) but the New France coins were not successful because they had no value outside the colony. To deal with the shortage, the French government authorized the use of coins limited to New France, the monnoye du pays. Even though the French government sent silver coins from France, such as the 'double tournois', the coins tended to be taken out of circulation by merchants, who used them to pay their taxes and buy European goods, as well as hoarding the coins for personal financial security. However, there was a recurring problem: there was never enough hard currency. Twelve deniers made a sol or sou, and twenty sols made a livre of New France. The basic unit of currency was the denier or penny. The early French colonists bartered goods and also used French coins. With the foundation of Quebec in 1608, French settlement and trade began. New France: 1608–1763 Chronic shortage of coins The Haidas of the west coast used copper shields as a measure of status and wealth. Special objects, such as copper shields, had special economic and social value. The Ojibwe in eastern Canada were noted for mining and trade in copper. During the long period of the fur trade, the beaver pelt was universally accepted as a medium of exchange by indigenous peoples and European traders alike, to the point that beaver pelts, called ' Made Beavers', were used as a unit of account by the Hudson Bay Company, to establish consistent pricing of all its trade goods. Indigenous peoples also traded furs with European traders for trade goods such as weapons, cloth, food, silver items, and tobacco. Wampum belts were also used as currency during the early colonial period, and were recognised as legal tender in the early Dutch and British colonies. Wampum belts, made of numerous tiny shells, were used by indigenous peoples in eastern Canada to measure wealth and as gifts. Various items played the role of currency, such as copper, wampum and beaver pelts.

The original inhabitants of Canada were the First Nations and Inuit who traded in goods on a bartering basis. There also exists a long history of numismatic coin issues. In the 20th century, Canada has issued many commemorative coins into circulation, temporarily replacing current coinage designs. By the mid-20th century, the Bank of Canada was the sole issuer of paper currency, and banks ceased to issue banknotes.Ĭanada began issuing its own coins shortly after Confederation. With Confederation in 1867, the Canadian dollar was established. The Canadian colonies gradually moved away from the British pound and adopted currencies linked to the United States dollar. During the period of British colonization, additional coinage was introduced, as well as banknotes. During the period of French colonization, coins were introduced, as well as one of the first examples of paper currency by a western government. Wampum and beaver pelts were considered currency. 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. Illustration of Dominion of Canada $100 note, 1872, showing the old Centre Block of the Parliament of CanadaĬanada has an extensive history with regard to its currencies.

Canadian bank note value