Dominion of Canada
With the onset of Canadian confederation, the Dominion of Canada came into existence on July 1, 1867. While the chartered banks were still permitted to issue their own notes, the government undertook the effort to implement its own currency.
- Canadian currency was decimalized with Confederation effectively making Canada leave the Sterling zone.
- Canada issued a new series of coins in the following denominations: one-cent, five-cent, ten-cent, twenty-five cents, and fifty-cents.
- These coins were legal tender in the four provinces that signed the Confederation Act: Ontario, Quebec, New Brunswick, and Nova Scotia.
Read more about this topic: History Of Canadian Currency
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