Surprisingly, most of the Washington Pieces originated in England. A few depict Washington in classical rather than colonial dress. Over 20 varieties are known, mostly copper and silver cents struck independently between 17. The most famous pattern coins were the Washington Pieces, which all portray George Washington on the front of the coin. None of these pattern coins ever gained official status, though some probably received small, unauthorized circulation in the states. In the 1780s and 1790s, many independent coiners struck sample coins, known as pattern coins, in the hope of winning a contract with the United States. The only unresolved issue was whether to open a national mint or contract a third party to strike United States coins. But the country's leaders had come to believe that an exclusively national coinage was essential to establishing national sovereignty. Under the Articles of Confederation signed by the states in 1778, both Congress and the states had the power to coin money. In the process, the problem of a national coinage system took on great importance. Thus the term "not worth a Continental." Quest for a National CoinageĪfter the Revolution, the United States turned its attention to its war-ravaged finances. Colonial paper money rarely lasted very long because the colonies generally issued too much of it and the resulting inflation made the bills worthless. ![]() Most colonial notes were "bills of credit" notes meant to be redeemable in coin. When the colonies did not have metal to coin, they frequently used paper money. Therafter, that way, if England ever found out about this illegal coinage, Massachusetts could claim it had not made any coins since 1652. The reverse bears the inscription NEW ENGLAND AN DOM, the date 1652 and the Roman numeral XII (twelve pence or one shilling) in the center.Īll Pine Tree shillings were dated 1652, though they were produced for many years. On the coin the lettering MASATHVSETS IN encircles a pine tree. The colony struck a series of silver coins, including the Pine Tree Shilling. In 1652, Massachusetts challenged England's ban on colonial coinage. To make change the dollar was actually cut into eight pieces or “bits.” Thus came the terms "pieces of eight" from these early times and "two bits" from our time. ![]() With its distinctive design and consistent silver content, the Spanish dollar was the most trustworthy coin the colonists knew. ![]() The most famous of these was the Spanish Dollar, which served as the unofficial national currency of the colonies for much of the 17th and 18th centuries. In time, some Spanish, Portuguese and French coins appeared in the colonies as a result of trade with the West Indies.
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