GRIMASON'S THEORY ON THE 1776 CONTINENTAL CURRENCY COINAGE

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V15 2012 INDEX E-SYLUM ARCHIVE

The E-Sylum: Volume 15, Number 48, November 18, 2012, Article 11

Andrea Grimason has posed several questions about the origin and nature of the enigmatic 1776 Continental Currency coinage. Last week Eric Newman noted that he and another researcher have been looking into this as well, and are planning to publish an article at some point. Andrea offers the following summary of her theory for comment by E-Sylum readers. -Editor

Benjamin Franklin designed and made the original coins in secrecy at night at the Soho Mint in 1775 with the help of a select few of his most trusted and intelligent peers.

The original continental currency coins were a mathematical scientific experiment of sorts in hopes of preventing counterfeiters from counterfeiting coins each man contributing his specialized expertise. Murdock invented gas lighting which enabled them to work at night others specialized in working with the makeup of metal compounds and silver plating small copper objects, etc.

They may have been originally intended as coinage but Franklin was unable to receive a loan of silver he was expecting from France and when it didn't come through he put the idea of a continential currency on the back burner and the examples they had made were presented to influential people perhaps the government officials for each state., members of Congress or grand masters of masonic lodges ....this I am not sure of at the moment it is one of the missing clues I am still looking for.

There was at least one coin made of copper (there may have been some in brass and perhaps tin that I am not sure about and I have not been able to find any facts to support it )

At least one copper coin was plated with silver but I don't think any were made of pure silver and again I have found no facts.

The newer looking coins struck in pewter and in a collar were made years later by example of the original coins. The original coins were made before the bills were engraved. Elisha may have received one of the originals from Franklin, which is how he was able to engrave the paper bills.

One of the coins that was struck later in years may have been designed using the paper bills Elisha Gallaudet engraved which is why it says EG FECIT but again I have yet to find anything in support. But it makes a lot more sense than to assume Elisha redesigned the coin 5 times and struck 6000 copies without a mint and without anyone knowing they existed.

One theory is as good as any other in the absence of hard facts. Not much is known for sure about the origins of these coins. As Eric noted last week, "Answers to old problems are tough." We may never have definitive answers, but it will be interesting to see our readers' thoughts on this, and any articles that ultimately get published to bring our numismatic knowledge up to date. -Editor