Gold Dollar

In 1841, the new Province of Canada declared that its dollar was equal to one-tenth the gold Eagle coin which was 10 U.S. dollar and was worth 5 s. (5 shillings) in local currency. The silver Spanish dollars were rated at 5 s. 1 d. and the British sovereign was rated at £1 4 s. 4 d. , the proper value due to its gold content compared to that of the gold U.S. dollar.