Colonial Coins

The introduction of coins in the 13 colonies marked a significant milestone in the early history of what would become the United States. These colonies, inhabited by settlers primarily of English and European descent, relied on a variety of currencies and barter systems before the establishment of their own coinage.

The first coins to circulate in the 13 colonies were not products of their own mints but were brought over by the early settlers from England. These included coins like halfpennies, farthings (quarter pennies), shillings, and sixpences. Spanish silver coins, such as pieces of eight (also known as Spanish dollars), were also popular, especially in the southern colonies.

This popularity was due to the thriving trade between the southern colonies and Spain and Latin America. It’s worth noting that these early American settlers were quite resourceful in their use of foreign currencies. The Spanish dollars, for example, were often cut into smaller pieces, creating “bits” or “pieces of eight,” to facilitate smaller transactions. This practice was common not only in the colonies but also in many other parts of the world.

As the 13 colonies started to grow and prosper, they realized the need for a more stable and readily available currency system. They began to mint their own coins, a move that was essential for the development of local economies. When the colonists initiated their coinage efforts, they often borrowed designs from the familiar English and Spanish coins. This borrowing of designs served to create a sense of continuity and trust in the newly minted colonial coins.

8 Popular Colonial Coins for Collectors

1. Pine Tree Shilling

Date: 1652
Origin: Massachusetts Bay Colony
Description: An iconic silver coin featuring a pine tree design, minted despite English law prohibiting colonial coinage. The date "1652" appears on most issues.

2. Hibernia Halfpenny

Date: 1723
Origin: Irish coin used in American colonies
Description: Minted for Ireland but widely circulated in the American colonies, featuring a seated Hibernia figure.

3. Virginia Halfpenny

Date: 1773
Origin: Virginia Colony
Description: Copper coin authorized by King George III, depicting the British monarch with the Virginia coat of arms.

4. New Yorke Token

Date: 1688
Origin: New York Colony
Description: Rare token believed to have been struck for New York, featuring James II's bust.

5. Fugio Cent

Date: 1787
Origin: United States (Pre-Constitution)
Description: Designed by Benjamin Franklin, featuring "Mind Your Business" and symbolizing time and commerce.

6. Continental Dollar

Date: 1776
Origin: Continental Congress
Description: Intended as a circulating dollar coin, featuring "Continental Currency 1776" and a sun dial with the motto "Fugio" (I Fly).

7. Carolina Elephant Token

Date: 1694
Origin: Carolina Colony
Description: Featuring an elephant on the obverse, believed to promote the Carolina colony.

8. Nova Constellatio Coin

Date: 1783
Origin: United States (Proposed National Coinage)
Description: Early attempt at a national currency featuring a unique star design with multiple denominations.