On June 1, 1786, the New Jersey legislature authorized Walter Mould, Thomas Goadsby, and Albion Cox to mint three million copper coins
at a weight of 150 grains each over a two-year period in return for a ten percent royalty to the state and the posting of a £10,000
surety bond. The coppers were to circulate at fifteen to the shilling and were to be produced within New Jersey. The design of the coins
was not resolved, the legislation simply stated they were to have "Marks and Inscriptions as shall be directed by the Justices of
the Supreme Court, or any one of them."
The obverse of the copper displayed a plow beneath a horse head facing right with the legend NOVA CÆSAREA (as on the state coat
of arms) and the date. The use of "CÆSAREA" is based on the ancient classical name for the Island of Jersey in the
English Channel. In Roman times this island was called Caesar's Island (insula Caesarea) so when latinizing the state name, the word
"Jersey" was transformed to "Caesarea." The 1688 indenture issued by Charles II called the colony "Nova
Caesarea, of New Jersey." The reverse of the coin depicted an American shield that is similar to one used on some of the
confederation patterns along with the national motto as the legend, E PLURIBUS UNUM (One from many). New Jersey coppers were the first
coins to bear the national motto.