[PDF] pennsylvania colonial currency

What was the currency used in colonial Virginia?

In practice, most colonial Virginians were accustomed to reckoning values in a bewildering range of ways: British pounds sterling; several sorts of colonial currency that had sterling values but often changed hands at a reduced rate, or discount; and Spanish coins with values given in dollars, doubloons, pistereens, and pieces of eight.

What is the history of colonial paper currency?

The first colonial paper currency, to cover Massachusetts’ expenses for an abortive attack on Canada at the beginning of the so-called French and Indian Wars, was followed within a few years by notes from the other colonies, emitted for similar reasons.

What was the most common coin circulating in the colonies?

The most common coin circulating in the colonies was the Spanish piece-of-eight, also known as the Spanish dollar. It was divided into eight reals. The coin circulated in the United States as legal tender until 1857. The term "two bits," or reals, meaning a quarter dollar, is still used.

Why did the Massachusetts Bay Colony start minting coins?

In an effort to provide more good coin to further trade and commerce, the Massachusetts Bay Colony established an illegal mint in Boston in 1652. The General Court of Massachusetts appointed John Hull as mint master, and the first coin issued by the mint was the New England in 1652.