5 Forms of U.S. Currency That Are No Longer in Use
The history of currency in the United States offers a fascinating journey through cultural changes, economic innovation, and shifting monetary policies. Between the colonial era and the mid-20th century, numerous forms of currency emerged that served a particular purpose before ultimately being discontinued. These now-defunct currencies reflect the complex social and political landscapes that shaped America’s financial systems, while at the same time telling stories of expansion, war, innovation, and politics.
Here are five forms of U.S. currency that still exist — and in some cases are worth far more than when they were first issued — but are no longer in common use.
Pine Tree Shilling
In the early 1650s, the Massachusetts Bay Colony was a commercial success. But it had a fundamental problem: a lack of coin currency, which was a major issue for not only the colony but also the wider New England economy. This forced the colonists to rely on bartering, allowing the British to keep more control. So, the authorities in Boston — which, at the time, had existed for only around 25 years — decided to set up a mint. They began striking silver coinage in denominations of 3 pence, 6 pence, and 1 shilling, most of which were stamped with the year of the mint’s foundation, 1652, and a pine tree (although some bore a willow or oak tree). The currency became collectively known as the pine tree shilling, and was generally accepted throughout the Northeast. It remains arguably the most famous coin from America’s colonial period. Today, authentic pine tree shillings are generally worth between $1,500 and $3,000 each.