Description

As early as 1650, the colony of Massachusetts Bay was a commercial success. But an inadequate supply of money put its future development in jeopardy. England was not inclined to send gold and silver coins to the colonies, for they were in short supply in the mother country.

Taking matters into their own hands, the General Court of the Massachusetts Bay Colony authorized two settlers, John Hull and Robert Sanderson, to set up a mint in 1652. The two were soon striking silver coinage - Shillings, Sixpences, and Threepences.

This was the origin of America's most famous colonial coin, the Pine Tree Shilling. The name comes from the tree found on the obverse. The Large Planchet (from 1667 to 1674, from 27 to 31 mm in diameter) Shillings were struck using the antiquated rocker press, but the introduction of a screw press circa 1675 marked the beginning of the Small Planchet type (from 1675 to 1682, from 22 to 26 mm), on thicker planchets of reduced diameter, the latter reducing die wear.

All Pine Tree used the 1652 date of authorization. Some believe that it was intended to commemorate the founding of the Massachusetts mint. Others believe the choice was a reflection of larger political events. Coinage was a prerogative of the King. In theory, these colonists had no right to strike their own coins, no matter how great their need. But in 1652, there was no king. King Charles had been beheaded three years previously, and England was a republic.

Massachusetts coinage not only circulated within that colony, but was generally accepted throughout the Northeast and Canada, becoming a monetary standard in its own right.