Last week, RCFC member and polymath, Bob Meroney, debuted his talk - US Currency: History, Art and Symbolism. Seems that many of our memorable words and sayings originate because of our “love” of money – from “Greenback” to “Banned in Boston”. Bob's talk was supported by a display of old and replica coins and paper money on a nearby table.
In the 18th century, the Spanish Silver Dollar was the international standard and was often cut into as many as 8 pieces or “Reales” giving rise to the term “pieces of eight”. During the American Revolution there was a need to fund the war so the “Continental” was printed. Since these were not backed by any asset they were essentially worthless, giving rise to the saying “Not worth a Continental”. By 1785 there were multiple states and private companies making coins allowing for widespread counterfeiting. In response, the Federal government started issuing coinage; unfortunately, the early officers of the US Treasury used this as an opportunity to enhance their own wealth, ultimately fleeing the country. The first US Mint was in Philadelphia. Early coins were made of silver, copper, gold and base metals. Some had holes in the center (“ring cents”) to reduce burdensome weight.
Next, Bob showed various example of early coins from 1859 until the present- e.g., the Indian Head penny, Lincoln penny with it’s various iterations, the first dime, a half dime, the Washington quarter with it’s often changed backside, all the way up to modern coins we remember, such as the Kennedy 50 cent piece (discontinued in 1993). In 1996 special bicentennial coins were minted. Next we saw examples of “unusual coins”-3-cent silver, 3-cent nickels, and $3 gold coins used for buying postage and “fractional” paper currency” (3-25 cents) during the Civil War.
We saw examples of discontinued paper money in dramatic denominations-$500, $1000, $5000, $10000 and even $100,000! The $2 bill appeared in 1896 and persists until today. There is, however, no $3 bill (“phony as a $3 bill”).
Money was minted during other unusual circumstances - Texas independence – “Redbacks” and the Confederacy- “Graybacks”. Special “hand-marked” notes were produced by regional banks-even by two Ft Collins National Banks.
Examples of the “Hobo” nickel were shown. Carved coins were created by various “artists” - the buffalo nickel was a favorite for carving as well as the Morgan silver dollar. Finally, magnified photos of the symbols on US dollar bills were examined to explain some of the conspiracy theories associated with our currency (Masonic and other “evil” interpretations.)
This was certainly an entertaining and informative presentation, once again showcasing RCFC local talent.