Asked by: Emigdia Fromelasked in category: General Last Updated: 19th April, 2020
What does not worth a Continental mean?
Besides, why were Continental dollars so worthless?
Continentals refers to paper currency issued by the Continental Congress in 1775 to help fund the American Revolutionary War. Continentals quickly lost value, partly because they were not backed by a physical asset like gold or silver, but also due to the fact that too many bills were printed. The invention of the U.S.
Beside above, what is continental currency called? The Continental Currency dollar coin (also known as Continental dollar coin, Fugio dollar, or Franklin dollar) was the first pattern coin struck for the United States. The coins were minted in 1776 and examples were made on pewter, brass, and silver planchets.
One may also ask, what was the problem with Continental dollars?
Continental currency depreciated badly during the war, giving rise to the famous phrase "not worth a continental". A primary problem was that monetary policy was not coordinated between Congress and the states, which continued to issue bills of credit.
How much is a 1776 Continental Currency coin worth?
Newman's silver 1776 Continental Currency dollar sells for $1.41 million.