Continentals
What Does Continentals Mean?
A form of paper currency used in the United States during the time of the revolutionary war (1775-1783). The paper money was used to help finance the cost of the war, but it quickly lost value because it was not backed by a physical asset such as gold or silver, sparking the term "not worth a Continental".
Investopedia explains Continentals
Continental currency was replaced by the adoption of the U.S dollar in 1785 because people simply stopped accepting it as payment for goods or trade. The invention of the U.S Mint, the federal monetary system, and the U.S Coinage Act of 1792 all quickly replaced the continentals and have since evolved to become the money system that we know today.
Related Links
- Cold Hard Cash Wars - Find out how conflicts have changed the role money plays in our lives.
- What Is Money? - It's a part of everyone's life, and we all want it, but do you know how it gains value and how it is created?
- From Barter To Banknotes - Money has been a part of human history for at least 3,000 years. Learn how it evolved.
