Gold coins
The British monetary unit is the pound, represented by the soverign coin, which is a gold coin
the size of a U.S. 5c weighing roughly 1/4 ounce. There is also a half soverign coin, which is
the size of a dime, also gold. Both coins are 22 karat gold (917 fine), the rest being copper.
The gold coins ceased to be issued for circulation after the outbreak of WWI. In the 1950's and
onwards, the sovereign and half sovereign were struck and sold as bullion pieces. They remain
legal tender for 1 pound, and 50 (new) pence. During the gold standard, the value of a pound
sterling (British) was $4.86 and 2/3c. British gold coins were legal tender in Canada , and
were used in backing up banknotes well into the 20th century.
Silver coins
The largest silver coin is the crown, which is the size of a silver dollar, and roughly coresponds
to it in value. There are
Bronze coins
The two principal bronze coins used in Canada were the penny and the halfpenny. The halfpenny was
the workhorse coin that was used in daily transactions, like buying a newspaper, or some bread.
This page last modified: March 20, 2003