Daily AncestorLawful money
Lawful money was New England's standard money of account, which rated a Spanish dollar at 6 shillings; deeds there often give prices in pounds lawful money.
The term goes back to a Massachusetts law first passed in 1692 and reenacted in 1697, which made Spanish pieces of eight current at 6 shillings. Massachusetts kept this lawful money as its real measure of value and ignored Queen Anne's 1704 proclamation, which also said 6 shillings but required a heavier coin.
Connecticut issued paper bills called Lawful Money in 1755 to replace its depreciated Old Tenor and New Tenor bills. Because the rate was 6 shillings to the dollar, £30 lawful money in a New England deed equals $100.
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Daily Ancestor. "Lawful money." Dictionary of Old Record Words. https://dailyancestor.com/dictionary/money-measures/lawful-money. Last checked 2026-10-03.