New Jersey 1787 Americas Articles of Confederation, adopted in 1781, provided that Congress should have the sole right to regulate the alloy and value of coins struck by its own authority or by the respective states. Each state had the right to coin money, but Congress served as a regulating authority. Vermont, Connecticut and New Jersey granted coining priveleges to companies or individuals. A number of interesting varieties of these state issues, most of which were struck in fairly large quantities, can still be acquired, and form a basis for many present day collections of early American coins. The New Jersey penny being offered is a very popular example. The obverse (front) shows a horse's head with plow and the legend :"NOVA CAESAREA" - New Jersey. The reverse has a United States shield and the legend E PLURIBUS UNUM (One composed of many). We hope to regularly offer different coins at auction or on our site so that an affordable collection of early American coinage can be acquired at a reasonable price.