There are two distinct forms of the so-called "pine tree" currency, the one bearing on the obverse a representation of a tree resembling an oak, or as some say, a willow; the other with the true pine-tree. It is thought that the ruder pieces bearing the oak tree design were the first coined and that the more perfect pine tree money was issued later. At any rate both "oak" and "pine tree" pieces, shillings, sixpences and threepences, all bear the same date, 1652. But this money was issued continuously until 1686 without a change of the date, it is said, to avoid interference from the English government, the coining of money by the colonists being a distinct violation of the royal prerogative. By the retention of the original date it was thought to deceive the authorities at home into the belief that the violation of the laws ceased as it began, in 1652. In 1652, however, a two-penny piece was minted bearing the oak tree design and hence it is natural to suppose that the pieces bearing the true pine tree design were the last coined and not issued until after 1662.
One of the traditions connected with the pine or oak tree money is the story that Sir Thomas Temple, who was a real friend of the colonists, in 1662, showed some of the pieces to the King at the council table in London, when King Charles demanded upon what authority these colonists had coined money anyway and sought to have orders sent to prohibit any further issues. "But," responded Sir Thomas, "this tree is the oak which saved your majesty's life and which your loyal subjects would perpetuate." Sir Thomas of course referred to the episode of Boscobel in which Charles II escaped his enemies by hiding in the branches of an oak. This it is said so pleased the King that he dropped the subject and the coining of "pine tree" money proceeded merrily, as before, for twenty-five years longer.
The master of the mint was John Hull who lived in Boston where Pemberton Square now opens from Tremont Street and where later was the famous garden and residence of Gardner Green, Esq. The mint house, sixteen feet square and ten feet high, was built on land belonging to Hull in the rear of his house. Robert Sanderson, a friend of Hull, was associated with him in making the "pine tree" money. It is not known how they divided their profit, but they received one shilling sixpence for each twenty shillings coined, and as it is estimated that "pine tree" money to the amount of five millions of dollars in value was made during the thirty-four years it was issued, the commissions received must have been very large and the statement that the dowry, said to have been £30,000, given to Hull's daughter at her marriage, appears reasonable. That the girl, plump as she is reported to have been, actually weighed down the dowry in shillings, is, of course, absurd as that amount in silver would weigh over 6,000 pounds rating a silver £ as weighing 4 oz. at that time.