The pound was the currency of New Hampshire until 1793. Initially, the British pound circulated, supplemented from 1709 by local paper money. These notes were denominated in pounds, shillings and pence but were worth less than sterling, with 1 New Hampshire shilling = 9 pence sterling. This first issue of paper money was known as the "Old Tenor" issue. The State of New Hampshire issued Continental currency denominated in £sd and Spanish dollars, with 1 dollar = 6 shillings. The continental currency was replaced by the U.S. dollar at a rate of 1000 continental dollars = 1 U.S. dollar.