Coins, Currency, and Medals

The museum possesses one of the largest and most diverse numismatic collections in the world. Its diverse holdings represent every inhabited continent and span more than three millennia. The collection includes coins, paper money, medals, tokens, commodity and alternative currencies, coin dies, printing plates, scales and weights, financial documents and apparatuses, credit cards, and objects that reflect established and emerging digital monetary technologies worldwide.

Called upon by the British government to help fight the French in Canada in 1689, Massachusetts authorities were hard-put to comply, because official money was unavailable.
Description
Called upon by the British government to help fight the French in Canada in 1689, Massachusetts authorities were hard-put to comply, because official money was unavailable. The Hull/Sanderson mint, which had created Pine Tree Shillings and other coins, had been closed on Crown orders years before, and all coinage was now in extremely short supply.
Then someone had an idea: Why not issue paper certificates to pay for the supplies and troops that Massachusetts was expected to contribute? The Crown had promised to reimburse the colony, in coinage, at war's end. The experiment was tried, and it worked. The first government-issued paper money in the entire Western world had made its appearance unexpectedly in Massachusetts.
Since these notes could eventually be redeemed for coinage - were in fact as good as gold or silver - another unknown functionary had an epochal idea: why not leave them in circulation? After all, everyone accepted their status as "real" money, and the need for them was great. So it was done. Colonial authorities elsewhere watched, and when the Crown did not stop the experiment in the Bay Colony, other colonies decided to begin issuing paper currency of their own.
Paper's popularity spread, and colonial America became dependent upon it. But paper was vulnerable to counterfeiting, or, in this case, to tampering. No twenty-shilling notes were actually issued by Massachusetts in 1690. Yet someone skilled with a pen thought there ought to be one, and proceeded to create it, altering the original denomination of two shillings sixpence.
Location
Currently not on view
date made
1690-02-03
issuing authority
Massachusetts Bay Colony
ID Number
NU.71.133.1
serial number
419
accession number
297196
catalog number
71.133.1
One (1) New England shilling coinMassachusetts, 1652Obverse Image: N/AObverse Text: NEReverse Image: N/AReverse Text: XIIBoston was founded in 1630.
Description (Brief)
One (1) New England shilling coin
Massachusetts, 1652
Obverse Image: N/A
Obverse Text: NE
Reverse Image: N/A
Reverse Text: XII
Description
Boston was founded in 1630. Within two decades, it had become a prosperous, thriving community, engaging in legal trade with the mother country and clandestine trade with Spanish America.
Perpetually short of coinage, the proper Bostonians came up with an unorthodox idea: they would take a portion of the silver coming in from the south, melt it down, and make coins from it. Their first efforts were modest. They recast the silver, beat it into thin sheets, then cut more-or-less round blanks from it. The blanks were struck with simple designs, once on each side.
The resulting coins were fairly easy to counterfeit. They were very easy to clip off some of the metal (and a portion of their value would be thereby removed). Embarrassed bureaucrats soon legislated more sophisticated designs that took up all of each side of the coin.
Location
Currently not on view
date made
1652
maker
Massachusetts Bay Colony
ID Number
1982.0798.0001
accession number
1982.0798
catalog number
82.48.01
One (1) pine tree shilling coinMassachusetts, 1652Obverse Image: Pine tree.Obverse Text: MASATHVSETS / INReverse Image: N/AReverse Text: NEW ENGLAND / AN DOM / 1652 XIIAs early as 1650, the colony of Massachusetts Bay was a commercial success.
Description (Brief)
One (1) pine tree shilling coin
Massachusetts, 1652
Obverse Image: Pine tree.
Obverse Text: MASATHVSETS / IN
Reverse Image: N/A
Reverse Text: NEW ENGLAND / AN DOM / 1652 XII
Description
As early as 1650, the colony of Massachusetts Bay was a commercial success. But an inadequate supply of money put its future development in jeopardy. England was not inclined to send gold and silver coins to the colonies, for they were in short supply in the mother country.
Taking matters into their own hands, Boston authorities allowed two settlers, John Hull and Robert Sanderson, to set up a mint in the capital in 1652. The two were soon striking silver coinage-shillings, sixpences, and threepences. Nearly all of the new coins bore the same date: 1652.
This was the origin of America's most famous colonial coin, the pine tree shilling. The name comes from the tree found on the obverse. It may symbolize one of the Bay Colony's prime exports, pine trees for ships' masts. Massachusetts coinage not only circulated within that colony, but was generally accepted throughout the Northeast, becoming a monetary standard in its own right.
Why the 1652 date? Some believe that it was intended to commemorate the founding of the Massachusetts mint, which did occur in 1652. Others believe the choice was a reflection of larger political events. Coinage was a prerogative of the King. In theory, these colonists had no right to strike their own coins, no matter how great their need.
But in 1652, there was no king. King Charles had been beheaded three years previously, and England was a republic. The people in Massachusetts may have cleverly decided to put that date on their coinage so that they could deny any illegality when and if the monarchy were reestablished.
This "1652" shilling is likely to have been minted around 1670. In 1682, the Hull/Sanderson mint closed after closer royal scrutiny of the operation.
date on coin
1652
date made
1667 - 1674
maker
Massachusetts Bay Colony
ID Number
1982.0798.0009
catalog number
1982.0798.0009
accession number
1982.0798
catalog number
82.48.09

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