US Colonial Paper Money: An Introduction

In 1690 the Colony of Massachusetts issued what would be the first paper currency introduced in North America. While Paper Money had been first printed in China hundreds of years earlier, what we now know as Colonial US Paper Money was the first large issuance of banknotes in the western world. The thirteen original colonies which would later form the United States of America all issued paper money, and many of these notes are surprisingly affordable. In this article we will give some collecting ideas of these fascinating pieces. Thanks to the relative affordability of these notes they are within reach of many collectors. While generally collected within the scope of US Paper Money world collectors will find such issues interesting as well, as many were issued under British rule and as a result they will easily fit in an advanced world collection as well.

One of Each of the Original Thirteen Colonies
A basic collection that many collectors attempt to assemble is a single note from each of the original thirteen colonies: Delaware, Pennsylvania, New Jersey, Georgia, Connecticut, Massachusetts, Maryland, South Carolina, New Hampshire, Virginia, New York, North Carolina and Rhode Island. A collection such as this is relatively easily assembled, although it can become more challenging by only seeking out those issued prior to the Declaration of Independence. Additionally, many collectors include Vermont (the 14th State) in such a collection, although this makes completion very difficult, as Vermont issued just a single series (dated February 1781) of which just 3,600 pieces of each denomination were printed. Most Vermont pieces are repaired or otherwise impaired, and finding high quality examples is extremely difficult.

Collecting Notes from Famous Printers
While not a typical way of collecting. a study of the various printers of Colonial Paper Money is interesting, and can provide much insight into these historic notes. Among the printers that printed these notes is Benjamin Franklin, who worked as a printer in Philadelphia. His imprint is seen on notes from Delaware, New Jersey and Pennsylvania, and are a tangible object produced by the famous statesman that is within reach of many. Other prolific and famous printers include Henry Dawkins, David Hall (first as partner of Benjamin Franklin and later with William Sellers) and Paul Revere.

There are endless possibilities when collecting these historic pieces, especially when one considers the time period that they were issued and the fact that that these notes were widely accepted by a population that previously had only used coins in commerce. If you are interested in reading more about these notes we can recommend The Early Paper Money of America by Eric P. Newman, a full catalog and the most important reference work on these issues.

To see a small selection of US Colonial Paper Money in our current auction, including the pieces illustrated above, please visit www.worldbanknoteauctions.com.

To read the complete article, see:
US Colonial Paper Money: An Introduction (https://mailchi.mp/worldbanknoteauctions/wbna-blog-colonials-5372794)