The government did not issue paper money until 1861. coins were struck in 1793 at the Philadelphia Mint and presented to Martha Washington. By this Act the U.S., became the first country in the world to adopt the decimal system for currency. Constitution was ratified, Congress passed the "Mint Act" of April 2, 1792, which established the coinage system of the United States and the dollar as the principal unit of currency. Image courtesy of United States Secret ServiceĪfter the U.S. (Series 1886 Martha Washington One Dollar Certificate - Martha Washington is the first and only woman to grace the primary portrait of U.S. The depreciation of this currency gave rise to the phrase "not worth a Continental." Paul Revere made the first plates for this "Continental Currency." Those notes were redeemable in Spanish Milled Dollars. However, in 1775, when the Revolutionary War became inevitable, the Continental Congress authorized the issuance of currency to finance the conflict. ![]() Early American colonists used English, Spanish and French money while they were under English rule.
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