When British Columbia Had Its Own Mint

Back in 1861, the Crown Colony of British Columbia was hindered by a shortage of money of all types. 

At that time, the future Pacific province was supposed to be on the pound sterling of the Old Country. In reality, there was a shortage of coins and almost any coin of almost any realm was accepted if of gold or silver. 

After the discovery of gold in the Fraser River and the Cariboo, most newcomers to the colony were Americans who brought with them their own currency and coins. As well, Spanish dollars and currency issued by the Province of Canada (Upper and Lower) were legal tender throughout the colony.

The solution, thought Gov. James Douglas, was to standardize the colony’s monetary system by issuing currency and coin, and he issued an order-in-council authorizing $75,000 worth of British Columbia bills, and to establish the B.C. Mint and Assay office in New Westminster.  

The story of B.C.’s “lost” currency and its gold coins, now among the rarest and richest of collectibles, in next week’s Chronicles.

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PHOTO: The only two coins, 10 dollar and 20 dollar gold pieces, produced by the New Westminster Mint. —bankofcanadamuseum.ca