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The first of the colonies to issue its own paper currency was the Province of Massachusetts Bay in 1690. Other colonies followed suit. The first denominations were in pounds, shillings and pence, as it was in Great Britain. As with the confederate notes, colonial notes were not backed by hard assets such as silver or gold and could not be exchanged for coins. They were only "bills of credit" which were issued by the government to pay debts, including the payment of taxes, after which the bills would be removed from circulation. When this failed to happen, it caused inflation and a loss in value, causing the British government to regulate these colonial notes.
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Title GSvc Description Show Img Price
Rhode Island 1786 5 Schillings Colonial Currency PCGS 55 PPQ Choice Ab... Rhode Island 1786 5 Schillings Colonial Currency PCGS 55 PPQ Choice About... $379.00
Rhode Island 1786 6 Schillings Colonial Currency PCGS 55 Choice About ... Rhode Island 1786 6 Schillings Colonial Currency PCGS 55 Choice About New $379.00
Pennsylvania 1775 40 Shillings Colonial Note PMG 58 EPQ Choice About U... Pennsylvania 1775 40 Shillings Colonial Note PMG 58 EPQ Choice About Unci... $449.00
April 11, 1778 $7 Continental Currency Yorktown Issue CC-74 PCGS 50 $7, AU, PCGS-AU-50. Rare Yorktown issue April 11, 1778. $1,850.00
Connecticut 1776 2 Schillings Colonial Note PMG 55EPQ About Unc. Fr#: ... Connecticut 1776 2 Schillings Colonial Note PMG 55EPQ About Unc. Fr#: CT-... $449.00
Rhode Island 1780 $1 Colonial Note PMG 63 EPQ Choice Uncirculated - Mi... Rhode Island 1780 $1 Colonial Note PMG 63 EPQ Choice Uncirculated - Midni... $479.00
Connecticut 1780 20 Schillings Colonial Note PMG 65 EPQ Gem Unc. Fr#: ... Connecticut 1780 20 Schillings Colonial Note PMG 65 EPQ Gem Unc. Fr#: CT... $879.00
1780 40 Shillings Connecticut Colonial Note PMG AU 55 Fr# CT-240 July 1, 1780 $349.00
Delaware 1776 5 Schillings Colonial Note PMG 55 EPQ About Unc. Fr#: DE... Delaware 1776 5 Schillings Colonial Note PMG 55 EPQ About Unc. Fr#: DE-77 $449.00
Delaware 1776 5 Schillings Colonial Note PMG 55EPQ About Unc. Fr#: DE-... Delaware 1776 5 Schillings Colonial Note PMG 55EPQ About Unc. Fr#: DE-77 $419.00
Delaware 1776 10 Schillings Colonial Note PCGS 64 PPQ Very Choice New ... Delaware 1776 10 Schillings Colonial Note PCGS 64 PPQ Very Choice New Fr#... $689.00
Rhode Island 1786 1 Schilling Colonial Note PMG 67 EPQ Superb Gem Unc.... Rhode Island 1786 1 Schilling Colonial Note PMG 67 EPQ Superb Gem Unc. Fr... $979.00
Rhode Island 1786 40 Schillings Colonial Note PMG 67 EPQ Superb Gem Un... Rhode Island 1786 40 Schillings Colonial Note PMG 67 EPQ Superb Gem Unc. ... $979.00
Rhode Island 1786 9 Pence Colonial Note PCGS 67 PPQ Superb Gem New Fr#... Rhode Island 1786 9 Pence Colonial Note PCGS 67 PPQ Superb Gem New Fr#: R... $979.00
Pennsylvania 1775 1 Schilling Colonial Currency PMG 55 EPQ About Unc. Pennsylvania 1775 1 Schilling Colonial Currency PMG 55 EPQ About Unc. $399.00
Delaware 1776 10 Schillings Colonial Currency PMG 58 EPQ Choice Unc. Delaware 1776 10 Schillings Colonial Currency PMG 58 EPQ Choice Unc. $469.00
Pennsylvania 1775 1 Schilling Colonial Currency PCGS 58 PPQ Choice Abo... Pennsylvania 1775 1 Schilling Colonial Currency PCGS 58 PPQ Choice About ... $419.00
Maryland 1770 $8 (36 Schillings) Colonial Note PMG 20 NET Very Fine Fr... Maryland 1770 $8 (36 Schillings) Colonial Note PMG 20 NET Very Fine Fr#: ... $169.00
Maryland 1774 $1/2 (2 Schillings, 3 Pence) Colonial Note PMG 20 Very F... Maryland 1774 $1/2 (2 Schillings, 3 Pence) Colonial Note PMG 20 Very Fine... $129.00
Rhode Island 1780 $20 Colonial Currency PMG 65 EPQ Gem Unc. Rhode Island 1780 $20 Colonial Currency PMG 65 EPQ Gem Unc. $689.00
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In 1751, it was decided that this currency would be considered legal tender only for public debts such as taxes, and would not be allowed for payment to merchants and other private parties. The Continental Congress also began issuing currency, shortly after the start of the Revolutionary War. These notes were available in denominations of 1/6 of a dollar to $80.
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