This listing is for the photographed 1775 2 Dollar Continental Currency Note; Dated November 29, 1775. Issued in Philadelphia by the Continental Congress. Rare and amazing piece of history, still in excellent condition. More history below. #CC-12
Because few coins were minted in the Thirteen Colonies, which later became the United Colonies and then the United States, foreign coins like the Spanish dollar were widely circulated. Colonial governments, at times, issued paper money to facilitate economic activities. The British Parliament passed Currency Acts in 1751, 1764, and 1773 to regulate colonial paper money.
During the American Revolution, the Colonies became independent states. No longer subject to monetary regulations arbitrarily imposed by the British Parliament, the States began to issue paper money to pay for military expenses. The Continental Congress also issued paper money during the Revolution — known as Continental currency — to fund the war effort. To meet the monetary demands of the war, State and Continental governments printed large amounts of currency, leading to rapid depreciation. By the end of the war, these paper notes became effectively worthless. Additionally, British counterfeiting gangs contributed further to the decreased value. By its conclusion, only a few counterfeiters had been caught and preemptively hanged, for the crime.
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1775 2 Dollar Continental Currency Banknote - Nov. 29th, 1775 - CC-12 - 1775 Two Spanish Milled Dollars Continental Congress Note