Jersey’s currency to its circulation alongside precious metal coins or their equivalents. The agreement of merchants to accept it at the rate of 7s.6d. for a Spanish Milled Dollar gave it “de facto convertibility” and hence stability. The State of New Jersey issued Continental currency denominated in £sd and Spanish dollars, with $1 = 7/6. Copper coins were also issued in the mid-1780s, bearing the Latin name of the state, Nova Cæsarea. The continental currency was later replaced by the U.S. dollar at the rate of $1,000 continental = US$1. References External links Stevens Institute of Technology's collection of NJ Currency relating to the University's founding lineage, Colonel John Stevens', role as treasurer of the State of New Jersey. Historical currencies of the United States 1793 disestablishments in New Jersey Economic history of New Jersey Economy of New Jersey Pre-statehood history of New Jersey