What Currency Did New Hampshire Use?

Picture this: It’s the early 1700s in Bedford, NH. You’re walking down a cobblestone street, the echo of horse hooves bouncing off timber-framed houses. You stop at a general store, reach for some New England rum or lumber, and suddenly, the clerk asks you, “Do you have New Hampshire pounds or continental dollars?” Wait… what currency? Did New Hampshire even have its own money? Well, buckle up, because the story of New Hampshire’s currency is as fascinating as it is rich in history — with a few surprises that even seasoned history buffs might miss.

The Birth of New Hampshire’s Own Currency: The New Hampshire Pound

Before the shiny dollar signs we know today, the historical currency of New Hampshire was none other than the New Hampshire pound. Issued around 1755, this currency was a colonial effort to create a stable medium of exchange independent from the British pound sterling, which was cumbersome to ship and in short supply.

Why pounds? Simply because British monetary units standardized colonial trade. However, the New Hampshire pound was a local adaptation, designed to keep commerce flowing in the burgeoning towns throughout the state—including places like Bedford, NH, a pivotal community even back then.

Key features of the New Hampshire pound:

• It was subdivided into 20 shillings, continuing British tradition.

• The value fluctuated since it was backed by limited specie (hard money) like gold or silver.

• The currency coexisted alongside other colonial notes, including those of Massachusetts and Rhode Island.

When Pounds Met Dollars: The Transition Era

If you thought colonial America simply switched from pounds to dollars overnight, think again. The transition was as messy as your drawer full of unread receipts.

During the American Revolution, the colonies — New Hampshire included — needed money urgently to fund their fight for independence. The solution? Printing “Continental currency” backed by promises of future tax revenues and land.

• New Hampshire began issuing continental dollars, which aimed to unite the fledgling nation under a single currency system.

• Unfortunately, rampant printing led to hyperinflation and the notorious phrase: “Not worth a Continental.”

• Still, these continental dollars were essential stepping stones as America pivoted toward the U.S. dollar system.

For residents in Bedford, NH, this meant juggling old pounds, continental dollars, and even foreign coins like Spanish dollars — talk about complicated pocket change!

Why Did New Hampshire Use Pounds for So Long?

The answer is a mix of practicality and tradition.

• Pounds were deeply embedded in legal documents, contracts, and trade agreements.

• The physical scarcity of British coins made paper currency more practical for everyday transactions.

• Colonists were wary of rapid change and clung to familiar systems until the historical currency of New Hampshire proved untenable.

Here's a fun tidbit: Around Bedford and other communities, merchants would sometimes issue their own promissory notes or IOUs to keep commerce flowing — a local form of currency backed by trust rather than government decree.

How the Currency Shift Influenced Bedford, NH and Local Economy

Bedford, NH isn’t just a dot on the map. It was a nucleus of colonial trade and agriculture, where currency debates mattered deeply.

• Businesses and farmers needed a reliable currency for buying supplies.

• The fluctuating value of colonial pounds and continental dollars meant pricing was often just a bit of an art form — merchants kept keen eyes on exchange rates.

• This economic environment fostered a degree of financial innovation, like early credit systems and barter deals.

In many ways, Bedford’s experience mirrored wider New Hampshire trends, blending British influence with American innovation.

Fun Facts and Trivia about Colonial Currency in New Hampshire

• Did you know? Some colonial bills included intricate designs to prevent counterfeiting — which was rampant!

• Early New Hampshire notes sometimes featured local emblems or New England imagery, a hint of budding American identity.

• Coins from Spain, the Netherlands, and France circulated freely due to the lack of official currency — so an impressively international wallet was common.

Frequently Asked Questions: The Currency of New Hampshire

1. What was the New Hampshire pound worth compared to the British pound?
New Hampshire’s pound typically traded at a lower value due to limited specie backing and local economic factors.

2. When did New Hampshire fully adopt the U.S. dollar?
After the Constitution ratified the U.S. dollar as legal tender in 1792, New Hampshire gradually transitioned during the late 18th century.

3. Did Bedford, NH issue any of its own currency?
While Bedford didn't produce official currency, local merchants sometimes issued promissory notes, functioning as a substitute in times of coin shortage.

4. Why was the continental dollar called “Not worth a Continental”?
Because inflation made it nearly valueless, a phrase emerging from frustrations with unstable colonial finance.

5. Are any New Hampshire colonial notes collectible today?
Absolutely! They are prized by collectors, representing a tangible link to America’s formative years.

The Legacy of New Hampshire’s Currency in Today’s Economy

Though we’ve advanced from pounds and continental dollars to crisp greenbacks, the historical currency of New Hampshire reflects the spirit of innovation and resilience that still drives communities like Bedford today.

Learning how past generations handled money—sometimes creatively, sometimes chaotically—provides insight into how economies evolve.

Why This History Matters for You

Maybe you’re a history buff, a resident of Bedford, NH curious about your town’s roots, or an investor wondering how early economic systems shape current markets. Understanding the evolution from New Hampshire pounds to U.S. dollars reveals how trust, innovation, and community needs drive monetary systems — and yes, that’s something Steve Jobs would have admired.

Ready to Explore More Local History or Real Estate in Bedford, NH?

Dive deeper into the story of Bedford, NH and its rich colonial past. Interested in how historical roots like currency systems influence current real estate trends? Let’s chat!

Drop your questions, share your own historical finds, or just say hi in the comments below. Sharing keeps history alive and your community thriving.

📞 Contact: David Hansen  

📍 Title: Real Estate Agent  

📲 Phone: 603-852-2913  

📧 Email: [email protected]  

🌐 Website: https://nhgoldenrule.com

Remember, this blog is for informational purposes only. For financial advice, please consult licensed professionals.