One of the fastest growing areas of interest for numismatic collectors is in United States Paper Money & World Bank Notes.
Originally issued by the colonies prior to the American Revolution, the beginnings of the United States currency predate the birth of the nation. The Massachusetts Bay Colony was among the first issuers of currency in 1690, used to pay the troops for a military venture into Canada. South Carolina, New York, New Hampshire, Connecticut, New Jersey, Rhode Island and North Carolina followed suit soon afterward to compensate their military personnel for defending their frontiers against the American Indians.
In 1775, the Continental Congress authorized the issue of Continental Currency, backed by the anticipated revenue to be derived from taxation. These notes soon became devalued to the point of being virtually worthless. In 1785, the Continental Congress decreed that the monetary system of our fledgling country would be based on the dollar, but the first dollar coin was not to be issued unit 1794. Nonetheless, the system of measurement was established.
In 1836, about 1,600 privately owned banks operating under state charters were authorized to issue currency, under a very minimal amount of regulation. This resulted in mass confusion with over 30,000 variation in design. Confusion became even worse after the failure of some of these institutions.
Gold backing, held in reserve by the Government to cover the face value of each note was initiated with the Gold Certificates beginning in 1865. These certificates aided in confidence in paper money, and continued to circulated until 1933. In 1866, National Bank Notes issued by national charted banks came into being and were backed by securities of the United States Government. This ushered in an era of much greater confidence in the stability of the value of currency in the United States.
Silver became the backing for currency with the issue of Silver Certificates beginning in 1878 and continuing through 1957. The Federal Reserve Act of 1913ushered in an even greater degree of federal regulation, and the Federal Reserve System assumed the role of central bank for the United States. Federal Reserve notes were authorized by this organization, and the Federal Reserve Notes are the only currency authorized t one produced today in this Country.
This rich history of the United States of America can be followed through the hobby of collection currency of this great country. Many examples of outstanding and extremely detailed art work can be found in the engravings that grace these notes. See the order form for instructions on selling or purchasing.
Investments in currency involve risk. Consult with your financial advisor to determine if this investment is appropriate for you.
Originally issued by the colonies prior to the American Revolution, the beginnings of the United States currency predate the birth of the nation. The Massachusetts Bay Colony was among the first issuers of currency in 1690, used to pay the troops for a military venture into Canada. South Carolina, New York, New Hampshire, Connecticut, New Jersey, Rhode Island and North Carolina followed suit soon afterward to compensate their military personnel for defending their frontiers against the American Indians.
In 1775, the Continental Congress authorized the issue of Continental Currency, backed by the anticipated revenue to be derived from taxation. These notes soon became devalued to the point of being virtually worthless. In 1785, the Continental Congress decreed that the monetary system of our fledgling country would be based on the dollar, but the first dollar coin was not to be issued unit 1794. Nonetheless, the system of measurement was established.
In 1836, about 1,600 privately owned banks operating under state charters were authorized to issue currency, under a very minimal amount of regulation. This resulted in mass confusion with over 30,000 variation in design. Confusion became even worse after the failure of some of these institutions.
Gold backing, held in reserve by the Government to cover the face value of each note was initiated with the Gold Certificates beginning in 1865. These certificates aided in confidence in paper money, and continued to circulated until 1933. In 1866, National Bank Notes issued by national charted banks came into being and were backed by securities of the United States Government. This ushered in an era of much greater confidence in the stability of the value of currency in the United States.
Silver became the backing for currency with the issue of Silver Certificates beginning in 1878 and continuing through 1957. The Federal Reserve Act of 1913ushered in an even greater degree of federal regulation, and the Federal Reserve System assumed the role of central bank for the United States. Federal Reserve notes were authorized by this organization, and the Federal Reserve Notes are the only currency authorized t one produced today in this Country.
This rich history of the United States of America can be followed through the hobby of collection currency of this great country. Many examples of outstanding and extremely detailed art work can be found in the engravings that grace these notes. See the order form for instructions on selling or purchasing.
Investments in currency involve risk. Consult with your financial advisor to determine if this investment is appropriate for you.
