1. America’s Currency Kyle Gusho

2. Early Stages American Currency went through several stages of development in colonial and post- Revolutionary history of the United States. Because few coins existed in the United States, foreign coins like, the Spanish Dollar, were widely circulated. Colonial governments sometimes issued paper money to separate expensive coins, from cheaper coins. Expensive coins being turned into paper money.

3. Types of Currency There were three types of money in the colonies of America: commodity money, specie (which were coins), and paper money (as stated before). Commodity money was used when coins and paper money were scarce. Some commodity money could’ve been, tobacco, beaver skins, and wampum (which are shell beads).

4. Terms for Currency Farthing – ¼ penny Half Penny – ½ penny Penny – 1 penny Tuppence – Tuppence wasn’t actually a coin, but it stood for “two pence.” Threpenny Bit – 3 pence Sixpence or tanner – 6 pence Shilling or bob – 1 shilling/12 pence Half-crown – 2 shillings and 6 pence Crown – 5 pence Half sovereign – 10 shillings (gold coin) Quid – Slang for pound Sovereign – 1 pound (gold coin) Guinea - 21 shillings (1 pound + 1 shilling), which was used in auctions.

5. How our currency started to fall apart By the summer of 1779, the slogan “Not Worth A Continental” was born. It was used when something had no value. Our governing law at the time, gave government no power to tax. This was a problem.