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Saturday, March 24, 2012

Virginia Coinage

The quantity of English money in circulation in the Virginia Colony was extremely small. Pieces of eight, the Peruvian pieces and crowns were imported almost wholly from the West Indies. Even those coins did not remain long in the Colony. The most valuable piece of eight was valued at five shillings. Therefore, tobacco was the major medium of exchange. Pictured is piece-of-eight from the year of 1739.

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