What Is the Significance of 1776 Continental Currency?


Quick Answer

Not much is known about the Continental Dollar of 1776, but they are thought to have been valued at a dollar and designed by Benjamin Franklin. While the currency is often associated with the Continental Congress, there is no recorded evidence that this coin was authorized at this convention.

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Full Answer

While there is little evidence that suggests that the Continental Congress authorized or minted the Continental Dollar, coinage concerns were discussed during the convention of 1776. In April 1776, a committee was formed to determine the value of foreign currencies. In 1777, plans to establish a mint were outlined but never fulfilled.

The Continental Dollar featured images designed by Benjamin Franklin. These designs were also seen on the fractional currency released on Feb. 17, 1776. The coins were struck in silver, brass and pewter. One side of the coin featured the medieval symbols of the sun with a face and the sundial. The reverse side of the coin had the 13 states woven together on a chain link. The mottoes "Mind Your Business" and "We Are One" were imprinted on the coin. Scholars are unsure of where the Continental coins were minted, but believe the location to be New York City.

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