Feb 3, 1690 - First Paper Money issued

Discussion in 'Financial Cents' started by RightHand, Feb 3, 2006.


  1. RightHand

    RightHand Pioneer in a New World Moderator Founding Member

    Until 1690, the North American colonies had dealt primarily in coinage. Silver and gold were rather rare, so colonists generally used unofficial coins, or “decrepit coppers.” Boston-based silversmiths John Hull and Robert Sanderson did operate their own mint between 1652 and 1682, issuing silver shillings and three and sixpence pieces, but save for a few ill-fated experiments, paper money was hardly tried or used. However, on 03 February 1690, Massachusetts takes what would later prove to be a crucial step in the establishment of a stable US economy and authorized the first official paper currency to be ever used in the Western Hemisphere. The currency would be used to pay soldiers fighting a war against Quebec.
     
  2. Valkman

    Valkman Knifemaker Moderator Emeritus Founding Member

    Interesting!

    During the Civil War the South faced shortages in everything including paper. They finally took to taking large sized bills and cutting them up and reprinting them and I have some that are printed differently on either side. One side is a complete bill and the other side is part of the larger bill. :)

    I'm saving it 'cause the South's gonna rise again! b::
     
  3. RightHand

    RightHand Pioneer in a New World Moderator Founding Member

    Interesting V-Man. Must have a good collector value. You could use it to help finance the 'rise of the south' :lol:
     
  4. Quigley_Sharps

    Quigley_Sharps The Badministrator Administrator Founding Member

    :lol: If you only knew my dad and that statement..........:lol:
     
  5. melbo

    melbo Hunter Gatherer Administrator Founding Member

    Hmmm. That makes one curious
     
  6. Bear

    Bear Monkey+++ Site Supporter+++ Founding Member Iron Monkey

    Interesting read.... it has a similar sound to the "Challenge Coins" used in the military today..... Thanks for posting....
     
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