A Comprehensive Guide to Continental Currency Banknotes

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Person Holding 10 and 10 Banknotes
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Continental currency banknotes were issued by the Second Continental Congress in 1775 to finance the Revolutionary War. They were the first paper currency issued by the U.S. government.

These notes were printed in denominations ranging from 1/6 to 80 dollars. The notes were often signed by prominent figures of the time, including George Washington and Robert Morris.

The Continental Congress printed over $200 million in Continental currency, but it rapidly lost value due to inflation and a lack of trust in the government's ability to back the notes.

Understanding Continentals

The Continental Congress issued continentals from 1775 to 1779 to finance the American Revolutionary War. This was the first significant currency distribution in the colonies.

These paper bills were not backed by any tangible asset, relying instead on the expectation of future tax revenues. The colonies were in the midst of a war, which created more uncertainty than the new currency could withstand.

Credit: youtube.com, Colonial and Continental Currency - Banknote of the United States Revolution (Video)

The Continental Congress printed $2 million in paper bills of credit in 1775, which bore images of Revolutionary soldiers. This was a significant amount of money at the time.

The colonies continued printing money, eventually issuing more than $200 million in rebel currency. This excessive printing led to significant depreciation of the continentals.

The British produced counterfeit bills to sabotage the American economy, further contributing to the devaluation of the continentals.

US Monetary History Experiments

The Continental currency banknotes were quite simple paper banknotes that were often numbered and signed by hand, adorned with emblems chosen by Benjamin Franklin.

Between 1775 and 1779, more than 200 different bills were printed, each with its own unique features, including neat illustrations, number of issued bills, and a Whitman catalogue reference number.

The Continental currency quickly lost value due to not being backed by a physical asset like gold or silver, and also because too many bills were printed, leading to a significant decline in value.

Detailed close-up of Indian Rupee banknotes with iconic Gandhi portrait, emphasizing economy and currency themes.
Credit: pexels.com, Detailed close-up of Indian Rupee banknotes with iconic Gandhi portrait, emphasizing economy and currency themes.

The British deliberately put large quantities of counterfeit money into circulation to sabotage the American economy, which further contributed to the devaluation of the continentals.

The Continental Congress issued $2 million in paper bills of credit in 1775, representing the colonies' first significant currency distribution, and the paper notes bore the images of Revolutionary soldiers.

Colonial Currency

Colonial currency was issued by the original 13 colonies and Vermont from 1690 to 1793. It came in hundreds of issues and denominations, with various designs and vignettes used.

The Colonial Currency Maryland $2 note, issued on March 1, 1770, is a significant piece of early American currency. This note reflects the colonial era and the financial struggles of the Thirteen Colonies.

Denominations of colonial currency were often in the English pound system or redeemable in Spanish milled dollars. A number of different printers made colonial notes, including Ben Franklin and Paul Revere.

The Maryland 1 Shilling 6 Pence 1773 Remainder Note, catalogued as MD-2 and graded Almost Uncirculated (AU), is a fascinating artifact from a pivotal era in American history. This note, issued on April 10, 1774, is an important piece of early American history.

Black Bentley Continental
Credit: pexels.com, Black Bentley Continental

The Colonial Currency Maryland $2 note, dated April 10, 1774, is an important piece of early American history. It reflects the challenges faced by the colonies in securing funds to support their military efforts.

Some notable examples of colonial currency include the Maryland $2 note, the Maryland 1 Shilling 6 Pence 1773 Remainder Note, and the Colonial Currency New Jersey 30 Shillings 1758 NJ-116.

Here are some notable colonial currency notes:

  • Colonial Currency Maryland $2 note, issued on March 1, 1770
  • Colonial Currency Maryland 1 Shilling 6 Pence 1773 Remainder Note, catalogued as MD-2 and graded Almost Uncirculated (AU)
  • Colonial Currency New Jersey 30 Shillings 1758 NJ-116

These notes are a rare and historically significant piece of paper money from the Revolutionary War era.

Maggie Morar

Senior Assigning Editor

Maggie Morar is a seasoned Assigning Editor with a keen eye for detail and a passion for storytelling. With a background in business and finance, she has developed a unique expertise in covering investor relations news and updates for prominent companies. Her extensive experience has taken her through a wide range of industries, from telecommunications to media and retail.

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