The pound was the currency of North Carolina

North Carolina

North Carolina is a state located in the southeastern United States. The state borders South Carolina and Georgia to the south, Tennessee to the west and Virginia to the north. North Carolina contains 100 counties. Its capital is Raleigh, and its largest city is Charlotte...

 until 1793. Initially, the British pound circulated, supplemented from 1709 by local paper money. Although these notes were denominated in pounds, shilling

Shilling

The shilling is a unit of currency used in some current and former British Commonwealth countries. The word shilling comes from scilling, an accounting term that dates back to Anglo-Saxon times where it was deemed to be the value of a cow in Kent or a sheep elsewhere. The word is thought to derive...

s and pence

Penny

A penny is a coin or a type of currency used in several English-speaking countries. It is often the smallest denomination within a currency system.-Etymology:...

, they were worth less than sterling, with 1 North Carolina shilling = 9 pence sterling. The first issue of paper money was known as "Old Tenor" money. In 1748, "New Tenor" paper money was introduced, worth 7½ times the Old Tenor notes.

The State of North Carolina issued Continental currency denominated in £sd and Spanish dollar

Spanish dollar

The Spanish dollar is a silver coin, of approximately 38 mm diameter, worth eight reales, that was minted in the Spanish Empire after a Spanish currency reform in 1497. Its purpose was to correspond to the German thaler...

s, with 1 dollar = 8 shillings (the York rating

York rating

The York rating was a valuation of the Spanish dollar in the £sd accounting system. It set the dollar equal to 8 shillings . The rating was named after the colony of New York where it was adopted . It was also used in Upper Canada by United Empire Loyalists following the American War of...

). The continental currency was replaced by the U.S. dollar at a rate of 1000 continental dollars = 1 U.S. dollar.