1777
As soon as Continental currency went into circulation, the British began printing counterfeit Continentals in an attempt at deliberate inflation and economic warfare. By 1780, the currency depreciated to 1/40th of its face value. In an attempt to stop the inflation, $111,143,503 of the Continental currency was turned in and destroyed.
Paper. L 9.5, W 7.4 cm
The John F. Reed Collection
Valley Forge National Historical Park, VAFO 64111