1873 To 1973 Prince Edward Island Canadian Dollar Value
Introduction
Prince Edward Island is a small Canadian province located in the Atlantic Ocean. It is known for its beautiful beaches, seafood, and friendly people. But did you know that Prince Edward Island also has a rich history when it comes to currency? The Prince Edward Island dollar was a unique currency that was used on the island from 1873 to 1973. In this article, we will explore the history of the Prince Edward Island dollar and its value over time.
What Was the Prince Edward Island Dollar?
The Prince Edward Island dollar was a currency that was used exclusively on the island from 1873 to 1871. Prior to this, various currencies, including the Spanish dollar, were used on the island. The Prince Edward Island dollar was introduced to help stabilize the economy and make transactions easier for island residents.
Design of the Prince Edward Island Dollar
The Prince Edward Island dollar was unique in that it was only used on the island. The design of the currency featured the image of Queen Victoria on the front and the provincial coat of arms on the back. The currency was issued in denominations of $1, $2, $5, $10, and $20.
The Value of the Prince Edward Island Dollar
The value of the Prince Edward Island dollar varied over time. In the early years of its use, the currency was valued at par with the Canadian dollar. However, as the economy of the island fluctuated, so did the value of the currency. At times, the Prince Edward Island dollar was worth more than the Canadian dollar, while at other times it was worth less.
End of the Prince Edward Island Dollar
In 1871, Prince Edward Island joined the Canadian Confederation and began using the Canadian dollar as its official currency. The Prince Edward Island dollar was no longer needed and was gradually phased out. By 1873, the currency was no longer in circulation.
Collecting Prince Edward Island Dollars
Today, the Prince Edward Island dollar is a collector's item. Because the currency was only used for a short period of time and only on the island, it is relatively rare. Collectors can find Prince Edward Island dollars for sale online or at coin shows. The value of the currency varies depending on its condition and rarity.
Conclusion
The Prince Edward Island dollar is a fascinating piece of Canadian history. For 100 years, the currency was used exclusively on the island and helped to stabilize the local economy. Today, collectors can still find examples of this unique currency and appreciate its place in history.