The New England Pound: Obsolete Colonial Currency, No USD Conversion

The New England pound was a colonial currency used in the New England colonies (Massachusetts, Connecticut, New Hampshire, Rhode Island) from the 1600s until the early 1800s.

Key Facts

• Based on British £/s/d system but devalued (1 NE pound ≈ 4–5 shillings sterling at various times).
• Issued as paper bills of credit by colonial governments.
• Suffered severe inflation (especially during wars).
• Replaced by Spanish milled dollar (8 reales) and later U.S. federal coinage (1792 Mint Act) / state bank notes.
• No longer legal tender; no modern USD conversion rate exists.

Historical Value Context

• 1704: Massachusetts fixed 1 oz silver = 6s 8d NE (vs 5s 2d sterling).
• 1749: Parliament prohibited new NE paper money (Currency Act).
• 1793: Last NE state (NH) redeemed bills at ~1/1000 face value.

For collectors, surviving notes are numismatic items valued by rarity/condition, not face value.