The reverse bears the inscription NEW ENGLAND AN DOM, the date 1652 and the Roman numeral XII (twelve pence or one shilling) in the center.Īll Pine Tree shillings were dated 1652, though they were produced for many years. On the coin the lettering MASATHVSETS IN encircles a pine tree. The colony struck a series of silver coins, including the Pine Tree Shilling. In 1652, Massachusetts challenged England's ban on colonial coinage. To make change the dollar was actually cut into eight pieces or “bits.” Thus came the terms "pieces of eight" from these early times and "two bits" from our time. With its distinctive design and consistent silver content, the Spanish dollar was the most trustworthy coin the colonists knew. The most famous of these was the Spanish Dollar, which served as the unofficial national currency of the colonies for much of the 17th and 18th centuries. In time, some Spanish, Portuguese and French coins appeared in the colonies as a result of trade with the West Indies.
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