The evolution of early Canadian currency offers a unique perspective into the growth of Canada as it was evolving into a nation. From it’s pre-colonial origins, to the tokens ushered in by Confederation in 1867, currency saw many forms and many uses.
Early 16th Century: First Nations and Wampum
As Canada was being settled, coins from Europe were scarce and far between. Interactions with the First Nations led to strong trade systems through the bartering of goods such as furs, wampum, copper objects, tools, and beads.
Wampum was highly valued among the Indigenous peoples not only for the time and difficulty of creating wampum shell beads, but the ceremonial functions of both the beads and the wampum belt. Wampum most importantly conveys messages, marks peace treaties, and records historical events using marks of friendship and respect. To early European traders, beads were essential to the fur trade since they were small and high value. Europeans used the beads to trade for pelts to cover the high demand for fashionable furs in Europe. Read more