As early as 1650, the Massachusetts Bay colony was very successful. However being short on money it's future was in doubt. England was not about to help by sending gold and silver coins to the colonies, for they were in short supply in the mother country.
Taking matters into their own hands, Boston authorities allowed two settlers, John Hull and Robert Sanderson, to set up a mint in the capital in 1652. The two were soon striking silver coinage - shillings, sixpences, and threepences. Nearly all of the new coins bore the same date: 1652.
This was the origin of America's most famous colonial coin, the pine tree shilling. The name comes from the tree found on the obverse. It may symbolize one of the Bay Colony's prime exports, pine trees for ships' masts. Massachusetts coinage not only circulated within that colony, but was generally accepted throughout the Northeast, becoming a monetary standard in its own right.
Why the 1652 date? Some believe that it was intended to commemorate the founding of the Massachusetts mint, which did occur in 1652. Others believe the choice was a reflection of larger political events. Coinage was a prerogative of the King. In theory, these colonists had no right to strike their own coins, no matter how great their need.
But in 1652, there was no king. King Charles had been beheaded three years previously, and England was a republic. The people in Massachusetts may have cleverly decided to put that date on their coinage so that they could deny any illegality when and if the monarchy were reestablished.
• Information provided by the Smithsonian •
