Among the North American Indians. strings of beads made from shells were used as currency. They were called wampum. In Colonial times the general court of Massachusetts soon recognized this money and fixed an arbitrary rate of exchange. Six white beads made from the sea-conch, or three purple beads made from the muscle-shell, were taken as equivalent to an English penny. Later four white and two purple ones were declared to have the same value. Musket balls were made legal tender for small amounts and furs and peltry for large sums. The coins brought from England and Holland tended to flow back to Europe, and the remaining ones were insufficient for the needs of the colonists.

In 1652, therefore, the general court of Massachusetts established a mint in Boston, and John Hull, mint-master, struck silver shillings, sixpences and threepences. All of these coins bore the device of the pine-tree. They were of the same fineness as the English coins of like denomination, but of less weight. This mint continued in operation for thirty-six years. After a while the " royal oak" was substituted for the pine-tree in order to conciliate King Charles II., who disliked this minting by a colony. All the above named coins bore the date of 1652; but two-penny pieces were added with the date of 1662. No other colony had a mint until 1659, when Lord Baltimore caused shillings, sixpences and groats to be coined for use in Maryland. James II. issued ten coins for circulation in America, though few of these have found their way hither. In 1722, 1723 and 1733 copper coins were minted in England with the legend "Rosa Americana." There were also copper half-pence issued in 1773 for circulation in Virginia, and in 1774 silver shillings were added.

Florida and Louisiana had colonial coins of their own before they became parts of the United States.

After the Revolutionary war the Continental Congress passed an act in 1786 which established a mint and regulated the value and alloy of the national coin. The government prescribed the device for copper coin the next year. Under this authority the so-called "Franklin Penny," with the legend "Mind Your Business," was made by contract. By the Federal Constitution, ratified in 1789, the right of coining money was transferred from the States to the United States. Under this constitution the United States mint was established at Philadelphia in 1792, and the regular coinage began in the following year. Four have since been added: New Orleans (1835), San Francisco (1854), Carson City and Denver - all under the charge of the Bureau of the Mint of the United States Treasury Department.

By the act of Congress establishing the United States Mint the following coins were authorized, Gold, eagle, half-eagle, quarter-eagle; silver, dollar, half-dollar, quarter-dollar, dime, half-dime; copper, cent, half-cent. Changes have been made at various times, not only in weight and fineness, but also in the metals used for the minor coins. At present the following coins are struck: Gold, double-eagle, eagle, half-eagle, three-dollar, quarter-eagle, dollar; silver, dollar, half-dollar, quarter-dollar, dime; minor coins, of nickel and bronze, five-cent, three-cent and cent.

By the act of February 12, 1873, the metric system was to a certain extent used in determining the weight of the silver coins. Thus, the half-dollar was to weigh 121/2 grams, the quarter-dollar 61/2 grams, the dime 2)4 grams.

Till 1837 the obverse of our coins had generally a female head, either with a liberty cap, or with a fillet bearing the word "Liberty." Afterwards it was replaced by a full-length seated figure with a liberty-cap on a pole, and a shield with a band inscribed "Liberty." The reverse of the principal coins has the eagle, often with a shield, arrows and olive branch. But in the minor coins the denomination of the piece is encircled by a wreath.

Up to 1849 eagles or ten-dollar gold pieces were the highest denomination authorized. But the discovery of gold in large quantity in California caused the demand for a larger coin, and the double-eagle was authorized by act of March 3, 1849, and issued in 1850. By the same act gold dollars were also authorized. Beside the govermental issues there were octagonal and ring dollars and even gold half-dollars and quarters issued in California. The Mormans in Utah also had gold coins of their own. These had peculiar devices, and their favorite inscription, "Holiness to the Lord."