Since the Declaration of Independence in 1776 through 1779 Continental currency was in circulation as the medium of exchange or money in America. Continental currency were banknotes issued during the American Revolution by the Continental Congress. Before America had won the war and our independence there was Spanish, English and French money in circulation. In order to pay for the war, and help simplify the monetary system we needed to develop one common currency for all the colonies. The famous Paul Revere designed the first coins for the Continental currency. This currency lost all of it's value as a result of the war; hence the phrase 'Not worth a Continental' . However, today this currency is highly valued by collectors.
It is also important to understand that monetary systems of the present day are an evolution of the principles in the great Mixed Money case of 1604, the circumstances connected with the Spanish Conquest of America; the Spanish Free Coinage Act of 1608, the British Free Coinage Act of 1666 and the invention of the coinage and printing presses.
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