Odd Canadian Denomination
DesertCoin
Posts: 290 ✭✭✭
Don’t see these too often. Interesting that it predates the U.S. 20¢ even though Canada’s coinage often mirrors U.S. coinage.
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The Province of Canada silver issues of 1858 had denominations of 5, 10, and 20 cents to facilitate trade with the U.S.
Under the then prevailing exchange rates, one pound sterling equaled £1-4s-4d of the Canadian pound currency and also $4.86⅔ of the U.S. dollar and the new Canadian dollar. The Royal Mint designed the three silver coins to also equal 3 pence, 6 pence, and one shilling of the old Canadian pound currency.
The 20-cent coin proved unpopular and was replaced in 1870 with the 25-cent coin.
A detailed explanation of the history of Canadian/U.S. exchange rates and their effect on Canadian coinage can be found in Chapters 2 and 3 of Dominion Decimals, available here (all proceeds go to the RCNA):
https://rcna.ca/book/index.php
http://www.victoriancent.com
Here's a little info on varieties for that date, if they will allow it here:
https://www.coinsandcanada.com/coins-prices.php?canadian_coins=20-cents-1858-1871
It's not all that "odd", in its context.
Three Canadian provinces issued silver coins prior to the Confederation of Canada in 1871: the Province of Canada (which prior to 1867 was just Ontario and Quebec), New Brunswick, and Newfoundland.
All three of these provinces issued 20 cent coins. The Canadian and New Brunswick 20 cents were both designed to be on par with the British shilling; Newfoundland issued 20 cent coins both because a 20 cent coin fits better in a decimal system, and because it fit better in the uniquely Newfie conversion of 1 British pound equalling $4.80 (so 24 20-cent coins equals 1 pound or one 20 cent coin equalling 10 pence).
Once new Confederaiton of Canada coins began to be issued in 1870, the old 20-cent coins were withdrawn in favour of 25 cent coins. Newfoundalnd kept issuing its own coins and didn;t switch from 20c to 25c until 1915.
Roman emperor Marcus Aurelius, "Meditations"
Apparently I have been awarded the DPOTD twice.
I recently learned they only changed because it was wartime, Canada took over their coin production, and forced them to accept 25 cent coins.
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