DEC. 1771 ONE POUND COLONIAL CURRENCY -- NORTH CAROLINA -- NO. 1350 BT2756

Description

Description:
Normal edge wear. This note is much better than is normally found - An excellent bit of American history that you can add to your collection!
HISTORY OF COLONIAL & REVOLUTIONARY CURRENCY
The first settlers in Colonial America used wampum beads, beaver skins, and tobacco as means of exchange. The shortage of "hard money" (coins) severely hindered the conduct of business. Few British coins reached the colonies, but ship masters did bring in foreign money The most common coin in circulation was the Spanish milled dollar; its value varied from colony to colony. To overcome this handicap to business, the colonies began to issue paper currency. Many of the Colonial notes were issued in terms of shillings, because even though most transactions were in Spanish dollars, the official account of exchange was British units - pounds, shillings, and pence. Odd denominations of the currency were often printed because of the lack of small change. To lower costs, many bills were not printed on the reverse side. Each bill was usually numbered and signed individually by hand to discourage counterfeiting.
The Revolutionary War brought new money difficulties. The Continental Congress, powerless to impose taxes, was forced to print massive amounts of currency to finance the war. This flood of paper money caused the Continental currency to rapidly depreciate; by 1781, the paper was exchangeable for coin at a ratio of 225 to 1! (5 in paper for a coin).
Mint = With original gum
Unused = Stamp without any gum or regummed
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We review all "best offers." The closer to the "buy it now" price your offer is, the better your chances of acceptance. Certain items, such as zeppelins and high denom notes, have very little profit margins leaving very little room for discounting. Offers within 5% of the asking price have the best chance of acceptance. If you do not receive a response to a best offer, please call us at one of the phone numbers listed above.
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Conditions of sale:
Stamps and currency are sold with a 14 day satisfaction guarantee.
Shipping fees are not refundable.
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Please check with your country's customs office to determine what these additional costs will be prior to bidding/buying.
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Notice that a stamp or note is being submitted for a certificate MUST be made at the time payment is made.
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Inventory ID: WML-016166
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