After the Massachusetts Bay Colony established a mint in Boston in 1652—but without notifying or seeking permission from the British government—coins began to be issued in denominations of 3 and 6 pence and 1 shilling.
As a result of British policy banning the minting of coins, the first paper money created and issued in North America were bills printed by colonialists as early as 1690—the year paper currency in the United States was created.
This 3-pence bill, seen in the obverse and reverse, was issued by the Province of Pennsylvania and dated June 18, 1764—one year before the outbreak of the American Revolution.
Continental currency was issued in dollars, but depreciated significantly during the war due to lack of solid backing and widespread counterfeiting. This coined the famous phrase "not worth a Continental."
On July 4, 1776, the Second Continental Congress unanimously adopted the Declaration of Independence. By May 1781, Continentals had become so worthless that they ceased to circulate as money.
Morris not only helped finance the final stages of the Revolutionary War by personally underwriting conflict debt, he presided over the issuing in 1783 of the first coins of the United States, the now highly collectible Nova Constellatio.
In 1785, the United States officially adopted the dollar sign. The symbol evolved from the Spanish American figure for pesos.
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