The Importance of Wampum as an Exchange Medium
Editor’s Note: For nearly 60 years, the feature-rich pages of Coins magazine, Numismatic News’ venerable sister publication, have tracked the history, fun and the growth of this great hobby, while also attracting new collectors to pursue what was once deemed the “hobby of kings.” Dusting off these time-aged issues, from the early 1960s and beyond, each installment of “Past Times with Coins,” written by its former longtime editor, explores what nuggets of interest they contain.
Gold, silver and copper coins were in short supply during the nation’s colonial days. This led to some innovative ways of paying one’s debts. As the Oct. 31, 1857, issue of the explained, besides tendering wheat and other grains for payment, “... taxes were payable in corn and cattle. Beaver skins also passed as a currency at ten shillings [to] the pound and being available as remittance to England, held the next rank to
