Early Money in AmericaCoins That Circulated in Early America
Virginia's original charter of 1609 granted the colony the right to issue money. In 1773, Virginia's Assembly finally authorized the striking of halfpennies, pennies, and shillings, all bearing the head of King George III. The coins were struck at the Tower Mint in London and imported to the colonies. While some of these Virginia halfpennies did circulate, most were hoarded.