In the decades surrounding American independence, money in North America operated as a loose patchwork rather than a single system. Colonists and early citizens routinely mixed whatever was available: foreign coins, locally made state coppers, privately issued tokens, and non-coin media like barter goods, grain, and wampum. This pragmatic blend kept commerce moving, but it also produced an uneven marketplace that would not truly standardize until much later.
This period is grouped into two categories. First are private and regional issues, tokens and medals often created by merchants, companies, or local institutions to fill shortages or serve a specific purpose. Second are state coinages, the semi-official copper issues struck by individual states in the 1780s as they experimented with creating dependable small change before the federal minting system fully took hold.
A Marketplace of Mixed Currencies
Foreign coinage formed the backbone of daily transactions for many Americans, especially in larger denominations. Spanish silver, particularly the 8 reales or “piece of eight,” was widely recognized and frequently used as a practical standard. British coinage was also common, especially English copper and some silver, though what circulated most heavily could vary by region and time. French colonial issues and French-made coins also appeared in North America, reflecting France’s long presence in surrounding territories and the wider Atlantic trade network.
Foreign coins alone did not solve every need. Small-change coins were scarce, and existing copper pieces varied in quality. Small change was often scarce, and the quality of circulating copper could be inconsistent. As a result, private issues and state coins emerged as stopgaps, marketing tools, and sometimes outright experiments in local monetary control.
Private Regional Issues: Commerce, Identity, and Necessity
Private tokens and local issues are among the most revealing artifacts of early American commerce because they were created for immediate, practical reasons. Some were struck in North America, while many were produced in England and then shipped across the Atlantic, eventually circulating in the United States whether or not that had been the original intent.
One example is the copper- or brass-alloy “North American” token. Though it bears the date 1781 and has long been collected with American pieces, sources attribute production to Dublin, Ireland, and its dated design does not necessarily match its actual striking date. The obverse shows Hibernia with a harp, while the reverse depicts a ship, imagery that made the token feel at home in ports and trading regions. Many examples are linked to circulation near the Canadian border.
Another enigmatic piece is the Bar Copper, likely circulating around 1785 and possibly made in England. It is recognizable by a “USA” monogram on one side and 13 bars on the other, a visual shorthand for the states. Pieces like this show how symbolism and utility blended. Tokens of unclear origin could still circulate when their designs looked familiar or patriotic.
Merchant and company issues could be even more explicit. The Mott Store Card Token functioned as a business card as much as money. Although dated 1789, the Mott store cards are generally considered backdated, with proposed production dates ranging from the early 19th century (post-1807) to as late as the 1830s–1840s.
Local institutions sometimes issued tokens for quality control. In 1790, Albany’s First Presbyterian Church produced “Church Penny” pieces by striking tokens on blank planchets or over worn copper coins. These Church Pennies helped standardize offerings and reduce reliance on worn copper coins. Only about a thousand were struck, underscoring how small these local responses could be.
Trade and industry created their own ecosystems of token money. The 1820 North West Company Tokens were used in the fur-trade world, commonly found holed and often interpreted as being worn. Their precise function is debated with some described as redeemable in fur-trade terms, while others suggest the holes point more strongly to adornment or identification use. Most surviving pieces are worn or corroded, showing they traveled in daily trade rather than being stored like conventional coins.
Several post-1776 token series have documented ties to British die-sinking and manufacture, though attribution and intent vary for each coin or series. For example, Auctori Plebis is often described as English-made (possibly for American use) but remains debated, while the Theatre at New York Token is frequently characterized as an English-made cabinet/collector piece more than day-to-day small change. Some pieces were intended for local commerce; others seem closer to promotional, experimental, or collector-driven issues that nonetheless entered circulation.
State Coinage: Early Experiments in American Money
Alongside private tokens, several states attempted to create more orderly small change in the 1780s. New Hampshire is often cited as one of the earliest Revolution-era state coinage efforts, authorizing a copper proposal on June 28, 1776 (shortly before independence), though surviving pieces are generally considered pattern-level productions rather than widespread circulating coinage, but they show how quickly states began thinking about monetary self-reliance.
Massachusetts moved from scattered unofficial pieces to formal coinage. Unique copper issues associated with Massachusetts survive today as single known examples, but the more important development came in 1786 when the Massachusetts General Court established a mint. Coining began in 1787 and continued through 1788, with production extending into early 1789 as the mint exhausted its copper supply before finally closing. These Massachusetts Cents and Half Cents are especially notable because they are widely cited as the first American coins to bear the denominational wording “cent” and “half cent,” even as other early issues (like the 1787 Fugio) are often discussed as the first federally authorized U.S. cent.
In 1785, Connecticut authorized a private coining company to strike copper coins dated 1785–1788 (with production often described as continuing into 1789), resulting in a famously diverse series of Connecticut coppers. These coins show wide die variety and uneven strikes that reflect rushed production and inconsistent planchets. This high-variation environment also fed into unauthorized and semi-clandestine activity. Machin’s Mills is the most documented private operation associated with striking both original pieces and imitations across New York, Vermont, and Connecticut, blurring the line between tolerated production and outright counterfeiting.
New Jersey’s authorized coppers began in 1786 under a mandate to coin millions of pieces, resulting in a vast set of die varieties. Vermont granted permission to Reuben Harmon Jr. beginning in 1785, and coins continued through 1788, sometimes involving outside production connected to Machin’s Mills.
New York’s most famous contribution is not copper but gold: the Brasher Doubloon. Ephraim Brasher’s 1787 doubloon, with an eagle and the arms of New York, represents an ambitious attempt at a high-status circulating coin, even if the practical extent of its circulation remains debated.
The Importance of These Pieces
Private regional issues and state coinages show how Americans addressed the everyday problem of making change. Some were struck for commerce, others for promotion, others for institutional control, and many survive in low grades because they were used hard. Together they tell a grounded story of a new nation building trust in money one practical experiment at a time.e 1986, bringing consistent standards of quality to a fractured industry. In the years since they have remained a source of reliable information on the current collectible and rare coin market.
