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United States Currency - Dollar
|1.||History of United States currency||5|
|The United States dollar||7|
The American colonists used a variety of goods in place of money. These goods included beaver pelts, grain, musket balls, and nails. Some colonists, especially in the tobacco-growing colonies of Maryland and Virginia, circulated receipts for tobacco stored in warehouses.
The colonists also used any foreign coins they could get. In 1652, the Massachusetts Bay Colony became the first colony to make coins. It produced several kinds of silver coins, including a pine-tree shilling and an oak-tree shilling, which were stamped with a tree design. The colony dated all coins 1652, no matter when they were made, probably to get around the law.
Massachusetts also became the first colony to produce paper money. In 1690, the colonial government issued notes called bills of credit.
U.S. currency of the 1800’s and early 1900’s included silver coins, gold pieces, and various types of paper money. [2.]
The U.S. dollar was created and defined by the Coinage Act of 1792. The Coinage Act of 1792 set the value of an eagle at 10 dollars, and the dollar at 1/10th eagle.…
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