An American National Treasure: The 1776 Continental Dollar
July 4, 1776 is the most important date in American history, as it marks when we, as a nation, adopted the Declaration of Independence. On this date, 246 years ago, we asserted to the world that we were not just a group of British colonies but instead, an independent nation. To honor the signing of the Declaration of Independence, Rare Collectibles TV would like to talk about one of the few American coins to display the year 1776.
While the official United States Mint did not begin producing coins until 1793, there were many operations in the colonies attempting to provide coinage across the nation. Among the most famous coins produced prior to the inception of the US Mint was the Continental Dollar. As one of the few coins to display the date 1776, the Continental Dollar is one of the most significant coins to be struck in American history.
The design is based on motifs credited to Benjamin Franklin. The obverse displays a sun radiating light onto the face of a sundial. Below the sundial is an inscription that reads “MIND YOUR BUSINESS.” While in the present day this phrase means that one should respect the privacy of others, Franklin literally meant that one should wholeheartedly focus on their work. Historians believe this motto was influenced by Franklin’s status as a prominent businessman who believed in the virtue of hard work. Etched into the left-hand side of the obverse is the Latin word “FUGIO,” which translates to “I fly,” in reference to the passing of time. These two phrases next to the sundial imply that as time continues to pass, individuals must choose to spend it wisely. The coin’s reverse depicts the phrase, “WE ARE ONE” surrounded by thirteen interlinking chains, each with the name of one of the original Thirteen Colonies, meant to represent the unbreakable bond forged between nation.
The Continental Dollar was struck in pewter, although about a dozen are known in brass, and four exist in silver. This specific example is struck from pewter and is of the “EG FECIT” variety, which is Latin for “EG made this.” It is believed that this phrase is placed on the coin by Elisha Gallaudet as he was the engraver. It is estimated that approximately 6,000 of these coins were struck in pewter, with only about 100 surviving to this day. As one of only 11 examples of the “EG FECIT” variety graded in Mint State 63 condition, this coin is easily one of the most desirable in all of American numismatics.
Despite the Continental Dollar’s undeniable rarity, its historic significance still remains its most desirable aspect. As one of the only coins dated 1776, the year that our country declared freedom from tyranny, any example of the Continental Dollar is a tremendous national treasure.