Colonial and Continental currency--when did these notes no longer have exchange value? Here is a note I have printed in the colony of Connecticut: http://i.imgur.com/vh79A.jpg http://i.imgur.com/zfyFj.jpg At what point did this note lose its value which was 20 shillings or around an English pound as I understand it with interest bearing features in some cases. Here is a note for $7 in Continental dollars printed a few years later: http://i.imgur.com/BHfsw.jpg Does anyone have a time scale as one American money system was replaced by the next money system, i.e. the one of the 1790s?
Here is a nifty little chart that tells when all the different currencies were demonetized. http://dollardaze.org/blog/?page_id=00017
[TABLE="class: simpleblackborder greentable smallerfont notunderlined"] Connecticut Continental Shilling (CCTS) 1776 1783 7 Hyperinflation [/TABLE]
Whereas the "dollar" lasted years later: [TABLE="class: simpleblackborder greentable smallerfont notunderlined"] Connecticut Dollar (CCTD) 1783 1792 9 Creation of the USD [/TABLE] [TABLE="class: simpleblackborder greentable smallerfont notunderlined"] US Continental Dollar (USC) 1775 1792 17 Creation of the USD [/TABLE]
Good chart, but it jumps back and forth through nations' demonitization and back and forth with time periods. Another question: How easy was it through U.S. history to get silver for paper money and was this ended in 1933 for gold and 1964 for silver?
Paper was redeemable in gold until 1933, but was redeemable in silver coin until 64-65 and then in granules until 1968.