Coinage
Copy coins make great extra credit rewards for a variety of activities and answers, etc. Have them redeemable at the end of the Semester.
The US Dollar is a basic monetary unit for the world. Below is the "Pillar Dollar." If there was a world monetary unit of exchange from the 16th to the 19th centuries, it was this coin. English mercantilist policy kept the British North American colonies from ever having enough coinage, leading to the use of the most common coins in the New World--Spanish.
Historically, governments always have had very little confidence in paper money--The American Colonies had been banned by Britain from printing paper money as it would lose its value easily. Benjamin Franklin only embraced paper money during the Revolution out of necessity, and in consideration of the benefits of high inflation (Congress could print currency and pay off debt more easily). In fact, the U.S. Government used paper treasury notes only to meet emergencies. It is the Crisis of the Civil War that created the need to make paper currency legal tender, which became a permanent fixture in our economy.
After the Civil War, the debate over adding large amounts of Western silver to the money supply became a central issue -- should gold be the sole backing of paper money, or should silver be added to create more money in circulation, leading to inflation? Through compromise, silver as well as gold (bimetallism) were used to back up paper money and create coinage. Silver certificates we even used in our money supply into the 1960s. Here, you will find examples of U.S. paper and metal money.
After the Civil War, the debate over adding large amounts of Western silver to the money supply became a central issue -- should gold be the sole backing of paper money, or should silver be added to create more money in circulation, leading to inflation? Through compromise, silver as well as gold (bimetallism) were used to back up paper money and create coinage. Silver certificates we even used in our money supply into the 1960s. Here, you will find examples of U.S. paper and metal money.
What has been the value of money in the past? What would a dollar be worth in days gone by? Click the calculator below to find out.
John Townsend Explains Colonial Money!
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Colonial Coinage
Other Coinage
As we move through the rest of the year, and past the Colonial Era, our extra credit coins will change. Here is what to look for:
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Quarter Dollar
Today, various types, including States, etc.
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THE PENNY, NICKEL, & DIME
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Paper Currency
"US Debt Clock" is a great link to US bills!
