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Set Description:
The Continental Congress authorized the printing of paper money from 1775 to 1779 to pay for the expenses associated with the American Revolution. There are 11 different authorization dates associated with Continental Currency, but those happened during the course of about 20 resolutions.
Over the period the Continental Congress authorized over $240 Million dollars in currency. This is stunning since the first authorization was for only $3 million! The free flow of paper money resulted in hyper inflation, the paper money became virtually worthless and the phrase, "It's not worth a Continental" entered the lexicon.
The British worked hard to devalue the currency by emitting counterfeit bills. The British actually printed some of counterfeits on a ship in New York Harbor and quickly placed them into circulation. Counterfeiting was so widespread that the May 20, 1777 and April 11, 1778 emissions had to be recalled early because the public lost confidence in the money supply. By emitting counterfeits the British helped reduce confidence in the currency and drive inflation all at the same time. Contemporary counterfeits printed by the British can be located and are an important part of any set of Continentals.
Make sure to check out my other sets, including a complete set of 102 Continental Bills. You can see all of my sets by clicking Here.
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