Shortly after landing in the New World, colonists became increasingly dissatisfied with the barter system of trade between them and England. The colonists wanted and needed economic independence from Britain and sought to establish their own economic stability by printing paper money. Though in 1690 the Massachusetts Colony was the first to print paper money, each Colony eventually printed its own colonial notes to enhance a convenient exchange and pay off debt. While Spanish Dollars were popular as colonial coins (the origin of our “dollar” denotation for US money) currency was noted in British pounds, shillings and pence.  Importantly, Britain disallowed Colonial Currency as legal tender in 1764 which contributed to great discontent with Britain among colonists.  In addition to individual colony issued Colonial Notes, as the Revolutionary War began in 1775, the Continental Congress circulated paper currency to help finance the war, backed by a hoped for future tax income rather than real gold or silver. These Continental notes depreciated rapidly partly due to expert British counterfeit operations designed to sabotage US war efforts. Following the war, states and private banks continued to issue their own currency. But, because of the problems with depreciation, inflation, value variances, and counterfeit, the US Constitution later denied individual states the right to make their own money.

Colonial Currency Notes are rare and extremely valuable. They were a significant part of our heritage as an independent and free nation. To hold one of these is to hold a vital part of our social, economic and political independence from Britain.