In 1660, the Massachusetts Bay colony began using a paper currency substitute. These promissory notes were not legal tender, but letters of intent to pay legal tender in the same way a cheque is an intention to pay. The people who traded with these official Massachusettes Colony I.O.U.'s were almost breaking the law laid down …
Why do countries mint new coins?
From 1999 to 2008 the US minted five new state quarter designs each year, one for each of the fifty states. Since then, many quarter collections have come into being including the ongoing, America The Beautiful quarter collection. Why does the US and why do most countries continue to mint new coins? Why? Countries mint …