The Six Versions of the 1776 Continental Dollar
Like several other American colonial coins, the Continental Dollar is an important but mysterious coin. The coin is commonly called the Continental Dollar (also the Fugio or Franklin dollar). Some varieties misspell the word ‘CURRENCY’ in the legend, and the coin itself does not state a denomination.
Continental paper currency had a “one dollar” denomination note in its issues from May 10, 1775, through May 6, 1776, but that denomination note was excluded until the last regular issue of Continental paper currency in 1779. Some scholars propose that the coin was meant to circulate with Continental paper money. However, contemporaneous documentation is absent, so this remains a hypothesis. Additionally, the coins created were roughly similar in size to the Spanish Milled Dollars of that era. But no contemporaneous or authorized records mentioning the Continental Currency Dollar have as yet been uncovered in the records of the Continental Congress.
The Design of the Continental Currency Dollar
The sundial, ‘FUGIO,’ and ‘MIND YOUR BUSINESS’ motifs are often associated with Benjamin Franklin and appear on related Revolutionary-era designs. The precise authorship of the coin’s imagery and even the coin’s origin and status are debated.
CURENCY and CURRENCY Designs
The most common variety is that struck in Pewter with the “CURENCY” spelling. The Central vignette is a sundial with the sun and rays above it. Below the sundial is the motto “MIND YOUR BUSINESS”. Historians debate whether Franklin aimed this at Great Britain or at the average colonist, encouraging self-reliance. The Latin word “FUGIO” means “I FLEE/I FLY” and was commonly understood to mean “TIME FLIES”. FUGIO appears with the sundial motif. Around the outer periphery is “CONTINENTAL CURENCY 1776”.
The reverse has 13 linked rings, each with the name of a different colony. In the center are the words “WE ARE ONE” broken across three lines. The outer central ring is two words “AMERICAN CONGRESS”.
The next Continental Dollar is exactly the same design as the first coin, except that the word CURRENCY is spelled correctly.
EG FECIT Design
The next variety has “EG FECIT” inscribed on the inner ring where the word FUGIO is also inscribed. “EG FECIT” translates to “EG MADE THIS”. Some numismatic researchers interpret the EG as a reference to Elisha Gallaudet, who also engraved some plates for the Continental Currency issue, dated February 17, 1776. The coins are otherwise the same.
The Silver EG FECIT
The next variety is extremely rare and desirable. The “EG FECIT” remains, although it looks like “IG” rather than “EG”, and CURRENCY is correctly spelled. However, this issue was struck in silver, making it an unofficial precursor to the first U.S. Mint silver dollars of 1794.
(A truly Amazing EG FECIT Continental Currency Dollar, in Silver. Obverse [left], Reverse [right].)
A Final Two Designs
The fifth variety is a pewter coin where the word “CURRENCY” is spelled as “CURRENCEY” and “EG FECIT” is missing. This is one of only 4 known coins.
(1776 Continental Currency spelled “CONTINENTAL CURRENCEY,” Dollar. Obverse [left], Reverse [right].)
The sixth variety is known as the Ornamental or Floriated Cross variety and is one of only three coins known to exist.
(The 6th and FINAL Variety of 1776 Continental Currency Dollar with Ornamentation at the date. Obverse [right], Reverse {left]).
Some experts say the pewter examples number about 6,000, but because no original mintage records are known, this is best treated as an estimate. The location of manufacture is uncertain, though New York is one of several proposed locations.
