View of Boston Harbor, 1770s. Library of Congress, Prints and Photographs Division.
THE SMITHSON BEQUEST
James Smithson, for whom the Smithsonian is named, was a British scientist believed to have felt slighted by his own country. Although he never visited America, he bequeathed his entire fortune to found an institution there for the “increase and diffusion of knowledge.”
Smithson’s 1829 bequest took the form of shiny British sovereigns bearing the head of the new Queen Victoria. They were eagerly accepted by the United States Mint at Philadelphia, melted down, and recycled into American gold coins, mostly five-dollar gold pieces. Only two of the original sovereigns escaped the meltdown.
American colonists acted independently even before the war against Great Britain, and the money they created has become legendary. The inhabitants of Boston came up with the first North American silver coins — most notably the Pine Tree Shilling. This was followed by other innovative new coins and even official paper money, the first in the Western world.
Legendary Firsts The following objects are in this section.