It does bear mentioning the issuance of the pine tree shilling and the "Hull Mint". John Hull partnered with Robert Sanderson and they struck the "pine tree shilling" in 1652. Inscription: "The Hull Mint - Near this site stood the first mint in the British colonies of North America. Before 1652, the Massachusetts financial system was based on bartering and foreign coinage. The scarcity of coin currency was a problem for the growth of the New England economy. On May 27, 1652, the Massachusetts General Court appointed John Hull, a local silversmith, to be Boston's mint master without notifying or seeking permission from the British government. The Hull Mint produced several denominations of silver coinage, including the famous silver pine tree schilling, for over 30 years until the political and economic situation made operating the mint no longer practical."