American Colonial Money (Pawn Stars)
Quiz by Steven Jones
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10 questions
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- Q1What was the first colony to mint its own coins in 1652?New York ColonyMassachusetts Bay ColonyVirginia ColonyPennsylvania Colony30s
- Q2What were Spanish silver coins commonly known as during the colonial period?PoundsDoubloonsPieces of eightDollars30s
- Q3What term arose from cutting Spanish silver coins into smaller pieces for small change?Eight bitsSix bitsFour bitsTwo bits30s
- Q4Which colony issued the first paper currency in the Americas in 1690?MarylandMassachusettsGeorgiaVirginia30s
- Q5What problem did colonial paper money face due to lack of regulation and backing?InflationStagnationRecessionDeflation30s
- Q6What event led the Continental Congress to issue the Continental Currency during the Revolutionary War?Promote tradeFund infrastructure projectsFinance the conflictEstablish a central bank30s
- Q7What phrase became associated with the worthless state of the overproduced Continental Currency?Currency collapseMoney crisisNot worth a continentalInflation explosion30s
- Q8What did colonial money lay the groundwork for in terms of a unified system?Gold standardUnified national currencyCryptocurrencyBarter system30s
- Q9What did the diversity and experimentation of colonial currencies reflect about early American societies?Traditionalism and isolationismConservatism and rigidityInefficiency and stagnationResourcefulness and adaptability30s
- Q10Why did many colonies turn to foreign coins during the colonial period?Preference for foreign currencyShortage of British currencyLower exchange rates for British currencyLack of interest in colonial money30s