Coinage exchange rate established-1750

British silver coins, as well as some British gold coins, found their way to the American colonies. Coins were brought to the colonies by settlers, by British officials and soldiers, as well as by merchants and sailors. Indeed, throughout the colonial period numerous tables were published listing the exchange rate of various foreign coins for a particular colony. In 1750 the Massachusetts legislature established rates of exchange for English coinage, an English guinea passed at twenty-eight Massachusetts shillings; an English crown passed for 6 shilling, 8 pennies local currency and an English shilling equaled 1 shilling 4 pennies in Massachusetts money.