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Early American currency went through several stages of development during the colonial and post-Revolutionary history of the United States. John Hull was authorized by the Massachusetts legislature to make the earliest coinage of the colony (the willow, the oak, and the pine tree shilling) in 1652. [1]
20 Απρ 2021 · Colonial American currency was a work in progress from the time of the earliest English settlements of the 1600s until the United States of America minted its own money in 1783. The monetary system...
By tracing our currency back to the colonial era, we can explore how American history has helped shape the way we design, issue, and process modern U.S. banknotes. The following centuries proved to be pivotal for the development of our nation's currency. Explore the timeline for an in-depth look.
Upon arriving in America, English colonists naturally continued using British currency such as the pound, the shilling, and the pence. But as tensions mounted and they began breaking away from England, colonists found better ways to support the growth and well-being of their new colonies.
During the United States' colonial era, paper currency was known as a Colonial Note or Continental Currency. It was valued in British pounds, shillings, or pence. Early notes were written and issued by hand, but the Bills of Credit had no standard of value.
14 Απρ 2021 · The first circulating paper money in the Crown Colony of Virginia was in the form of tobacco receipts. The first bills issued by the Colony appeared in 1755 and were intended to pay for wars against the French and local Native American tribe.
In effect, each of the American colonies had its own currency, with notes from one colony redeemable in the others at varying rates, reflecting the relative strength of their economies and the amount of currency that had been issued.
