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POUNDS.

Actually a variety of currency was used. They did use pounds but they also used the Spanish piece of eight and other coins from different countries. They also adapted the native American "wampum". In 1690, the first paper currency was issued in Boston. These papers were called Bills of Credit.

Shillings, Sixpence, and Tuppence, too

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12y ago
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13y ago

Pesos were known as "pieces of eight," because they were divided into eight sub-parts known as bits. Pesos resembled the Austrian talers, they were nicknamed tales, which sounds like the word dollar. The term became popular to Franklin and Hamilton so the decided to make the dollar the basic monetary unit. Instead of divided it into eighths like the peso, it was divided into tenths.

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13y ago

Currency was much the same all over the English colonies in North America. It was a mix of coins made by colonial governments, colonial government paper money, tokens made unofficially in England or the colonies, Spanish money from South America, and just about anything else they could get their hands on. The English government seems to have wanted to keep all the English money in England, and never really provided money for North America, so the colonists had to make do with whatever they could find.

There is a link below to the Rhode Island section of a University of Notre Dame website page on colonial currency.

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9y ago

The commodity money used by the American colonies was the based on what they used in Britain. Pounds, pence's, the shilling, silver, and even gold.

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11y ago

Continental Dollar

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16y ago

Wampums

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Q: What was used as commodity money by the American colonies?
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