Wampum as Legal Tender

The legalization began with two states to accept wampum as a currency on November 15, 1637. The first state was in Massachusetts when the General Court allowed circulated wampum beads to be equal to six wampum to a penny and used as a lawful payment in total sums under twelve pence. Connecticut allowed wampum as payment for taxes that had a rate of four beads to the penny. In order to benefit colonists of Plymouth and Massachusetts, on October 27, 1648, the Massachusetts General Court voted to officially accept wampum as a currency, on a trial basis with strands fixed in denominations called peag.