Continental currency was a paper currency issue by the Continental Congress, after the Revolutionary War began in 1775. Eric P. Newman, a leading authority on the early paper money of America, distinguishes between Continental Currency, issued by the authority of the Continental Congress, Colonial currency, issued by the colonies before the revolution, and state currency, issued after the Declaration [though many collectors lump together state and colonial issues and refer to both as Colonial Currency]. [Continental currency was denominated in dollars [from 1/6 of a dollar to $80, including many odd denominations in between], while Colonial currency was denominated in pounds, shillings, and pence, as well as in dollars.] With no solid backing and being easily counterfeited, the continentals quickly lost their value, giving voice to the phrase "not worth a continental".