On the other side of the Massachusetts cent was the figure of an Indian holding a bow and arrow also a single star.Īs early as the adoption of the “Articles of Confederation” (1781) the subject of national coinage occupied the attention of statesmen. Now, the chief on the great seal of the United States. The head of a horse and three ploughs now form the chief device of the great seal of New Jersey.Ĭents and half-cents were issued in Massachusetts in 1788, exhibiting on one side an eagle with a bundle of arrows in the right talon, an olive-branch in the left, and a shield on its breast bearing the word “cent.” On one side of this coinage was the head of a horse, with a plough beneath and on the reverse a shield. In 1786 parties obtained authority from the legislature of New Jersey to coin money, and they established two mints in that State: one not far from Morristown, and the other at Elizabethtown. This mint continued in operation about three years. ![]() In the same year the legislature of Connecticut authorized the establishment of a mint at New Haven, whence copper coins were issued having on one side the figure of a human head, and on the other that of a young woman holding an olive-branch. Some half-cents also were issued by the Vermont mint. The power of coinage was exercised by several of the independent States from 1778 until the adoption of the national Constitution.Ī mint was established at Rupert, Vt., by legislative authority in 1785, whence copper cents were issued, bearing on one side a plough and a sun rising from behind hills, and on the other a radiated eye surrounded by thirteen stars. This base coin was vehemently opposed in the colonies.Ī writer of the day, speaking of the speculation, said Wood had “the conscience to make thirteen shillings out of a pound of brass.” In the coinage of 1724 the rose was crowned. One side of the coin bore the image of George I., and on the other was a large double rose, with the legend “ Rosa Americana utile dulci.” He made it of pinchbeck - an alloy of copper and tin. In 1722-23, William Wood obtained a royal patent for coining small money for the “English plantations in America.” ![]() ![]() Some coins had been made in Bermuda for the use of the Virginia colony as early as 1644.Ĭopper coins bearing the figure of an elephant were struck in England for the Carolinas and New England in 1694.Ĭoins were also struck for Maryland, bearing the effigy of Lord Baltimore. All the coins issued from it bore the dates 1652 or 1662, the same dies being used, probably, throughout the thirty-four years of coining. The “mint-house” in Boston existed about thirty-four years. Thus the pound currency of New England came to be one-fourth less than the pound sterling of Great Britain and this standard was afterwards adopted by the British Parliament for all the English American colonies. The silver was alloyed a quarter below the English standard, with the expectation that the debasement would prevent the coin leaving the country. To stop this drain of specie Massachusetts set up a mint, and coined silver threepences, sixpences, and shillings, each bearing the figure of a pine-tree on one side, and the words “ New England” on the other. Wampum depreciated in value as currency in consequence of over-production, and a final blow was given to it as a circulating medium in New England by an order from the authorities of Massachusetts not to receive it in payment of taxes.Īs fast as coin came to the colony of Massachusetts by trade with the West Indies, it was sent to England to pay for goods purchased there.
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