{"product_id":"connecticut-five-shillings-july-1-1780-hole-cancelled","title":"Connecticut Five Shillings - July 1, 1780 - Hole cancelled","description":"\u003cp\u003eColonial currency, in very good condition:\u003cstrong\u003e\u003cspan data-sheets-root=\"1\"\u003e\u003c\/span\u003e\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003eEach note is in a 5\" x 7\" freestanding Lucite frame to protect the currency while allowing you to display it standing or flat. The two pieces of Lucite are held together with magnets, which makes it easy to remove the currency for a closer inspection or to frame in a different manner or to store.\u003c\/p\u003e\n\u003cp\u003eNote that the manufacturer claims UV protection, but I haven't seen any technical report, so recommend keeping them out of direct sunlight.\u003c\/p\u003e\n\u003cp\u003eUse a microfiber cloth or similar to remove dust and fingerprints. Do not use household cleaners.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eShipping:\u003c\/strong\u003e $10. Please allow two weeks for shipping.\u003c\/p\u003e\n\u003chr\u003e\n\u003cp\u003e\u003cstrong\u003eHistorical background on the Continental Currency\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cmeta charset=\"UTF-8\"\u003e\u003cspan\u003eCongress created the Continental Army on June 14, 1775.  On June 22 they approved the printing of paper currency to pay for it, as t\u003c\/span\u003ehe Massachusetts Historical Society explains:\u003c\/p\u003e\n\u003cp\u003e\"From June 1775 to 1779, Congress ordered 11 emissions of Continental Currency to the amount of 226 million Spanish milled Dollars. These bills constituted 82% of the federal government’s income during this period. At first the currency circulated at a par with the Spanish milled dollar, but since the states were simultaneously emitting their own bills of credit and debt certificates to cover their war expenses, the glut of bills issued without sound financial revenues soon led to depreciation of all forms of circulating paper, but especially that of Congress.\u003c\/p\u003e\n\u003cp\u003e\"Great Britain contributed to this financial instability through counterfeiting the issues of 20 May 1777 and 11 April 1778 to such a degree that Congress recalled both issues in their entirety. In January 1777, $1.25 of Continental Currency could purchase $1 in specie (gold or silver coins). By January 1781, it took $100 in Continentals to obtain $1 in hard money. This depreciation had effectively put an end to circulation of the paper bills by 1779, when Congress resolved to stop issuing them altogether.\"\u003cbr\u003e\u003c\/p\u003e\n\u003cp\u003eThe $7 Continental Currency note was designed by Benjamin Franklin and printed in Philadelphia by Hall and Sellers.\u003c\/p\u003e\n\u003cp\u003eThis is the text on the note:\u003c\/p\u003e\n\u003cp\u003e\u003cmeta charset=\"UTF-8\"\u003e\u003cspan\u003eSERENABIT\u003c\/span\u003e\u003cbr\u003e\u003cspan\u003eSEVEN DOLLARS\u003c\/span\u003e\u003cbr\u003e\u003cspan\u003eThis Bill entitles the\u003c\/span\u003e\u003cbr\u003e\u003cspan\u003eBearer to receive SE-\u003c\/span\u003e\u003cbr\u003e\u003cspan\u003eVEN SPANISH milled\u003c\/span\u003e\u003cbr\u003e\u003cspan\u003eDOLLARS, or the Value\u003c\/span\u003e\u003cbr\u003e\u003cspan\u003ethereof in Gold or\u003c\/span\u003e\u003cbr\u003e\u003cspan\u003eSilver, according to a \u003c\/span\u003e\u003cspan\u003eResolution\u003c\/span\u003e\u003cbr\u003e\u003cspan\u003eof CONGRESS, passed\u003c\/span\u003e\u003cbr\u003e\u003cspan\u003eat Phildelphia, Febru-\u003c\/span\u003e\u003cbr\u003e\u003cspan\u003eary 17, 1776.\u003c\/span\u003e\u003c\/p\u003e\n\u003cp\u003e\"Serenabit\" was meant to be an encouragement to those facing difficulties, mirroring the adage \"after a storm comes a calm\"\u003c\/p\u003e","brand":"The History List","offers":[{"title":"Default Title","offer_id":51964239872302,"sku":"RARE-FINDS-COLCURRENCY-CT-FIVE-SHILL1780","price":400.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1185\/2944\/files\/rare-finds-connecticut-fiveshillings-1780.jpg?v=1783325142","url":"https:\/\/store.thehistorylist.com\/products\/connecticut-five-shillings-july-1-1780-hole-cancelled","provider":"The History List","version":"1.0","type":"link"}