The Characteristics Of North American Currency

1497 Words6 Pages
Have we always known the distinct characteristics of North American currency? The dollar bills and coins we use today have been through many changes in appearance and value. Paper and metals have been the appearance of most currency. The change of currency went through early colonial period, colonial period, Antebellum period, Civil War period and the Reconstruction period to finally establish what we now know as American Currency. The separation of our country did not represent unity or form for America. The American currency did not have an identity until the National Banking Act of 1863, established the dollar as the currency of choice. The currency that was used in most English colonies during the 1600s was coins. The Colonists of that time would count their money based on the English system that consisted of shillings, pounds, and pence that was valued as; twelve pence equaled a shilling and twelve shillings equaled a pound (Walbert, David). The pence were also recognized to be a penny. The currency varied in each region and some would only accept trade and not pence or schillings. One of the most common identities of currency later became the Spanish dollar. After so many people had the dollars they become less in value and caused inflation to the country and a new type of currency needed to be established for the country. During the late Colonial period in 1690, a decision was suggested that the Spanish dollar was no longer of a great value and worth its weight in
Open Document