Colonial Currency - FR SC-155 - Feb. 8, 1779 - Paper Money - Paper Money - US - for Sale

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Colonial Currency - FR SC-155 - Feb. 8, 1779 - Paper Money - Paper Money - US - For Sale

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Colonial Currency - FR SC-155 - Feb. 8, 1779 - Paper Money - Paper Money - US - :
$1000.00

FR SC-155. 60 Dollars. Available in VF at $1,000. There were three general types of money in the Colonies of British America: the specie (coins), printed paper money and trade-based commodity money. Commodity money was used when cash (coins and paper money) were scarce. Commodities such as tobacco, beaver skins, and wampum, served as money at various times in many locations. Cash in the Colonies was denominated in pounds, shillings, and pence. The value of each denomination varied from Colony to Colony; a Massachusetts pound, for example, was not equivalent to a Pennsylvania pound. All colonial pounds were of less value than the British pound sterling. The coins in circulation during the Colonial Era were, most often, of Spanish and Portuguese origin. The prevalence of the Spanish dollar throughout the Colonies, led to the money of the United States being denominated in dollars, rather than pounds. One by one, colonies began to issue their own paper money to serve as a convenient medium of exchange. In 1690, the Province of Massachusetts Bay created \"the first authorized paper money issued by any government in the Western World\". This paper money was issued to pay for a milit Item ordered may not be exact piece shown. All original and authentic.