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U.S Currency History
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Dollar
Congress adopted the dollar to use as the currency that the US would use. -
First US Bank
It was Alexander Hamiltions idea to create the bank shortly after the US Constituition was formed. His goal was to establish financial order, clarity, precedence in the newly formed states. Also to establish credit, and to resolve the issue of the Fiat Currency. -
The monetary System
The coinage act of 1792 created the US mint and created this federal monetary system. This system allowed the US to set denominations to coins, and specified the value of each coin in gold, silver, or copper. -
US Mint "P"
The US mint "P" stands for Philadelphia, Pennsylvania. This Processing center still is making US currency today. -
FIrst US coin
The first coin in the US was made. It was a silver dollar. -
First Dollar Coin Issue
The first dollar coin issues were made of silver. But they have been made out of gold, silver, and base metals. A silver dollar is only called this if it contains a little bit of that metal in it. -
US Mint "D"
The US mint D stands for Dahlonega, Georgia. This Center made only Gold US coins. -
US Mint "O"
The US mint "O" stands for New Orleans, Louisiana. It began in 1838-1861 and was shut down then it reopened in 1879-1909. -
Mint Mark "C"
The US has many different mint marks on each of their coins. The "C" mint mark stands for Charlotte, North Carolina. Here they made only gold coins. -
US Mint "S"
The US mint "S" stands for San Francisco, California. This Processing center still is making US Currency today. -
$10 Bills
The First $10 Bills were demand bills issued by the treasury Department. On the First $10 Bills a portrait of Abraham Lincoln appeared on them. -
Greenbacks
These were the first circulated paper money by the US. They Pressed these bills to help pay for the Civil War. They got their name Greenbacks becasue of the color of the bills. Whatever the face value of the bills were thats what they would still be worth today. -
The Design
The design of the US currency went through some major changes to help keep it safer and harder to counterfeit. It had fine-line engraving, intricate geometric lathe work patterns, a treasury seal, and engraved signatures. -
National Banking System
Congress created the national banking system and authorized the US treasury to oversee the issurance of banknotes. This system established Federal guidelines for chartering and regulating national banks and authorized those banks to issue national currency secured by the purchase of United States bonds. -
Secret Service
The United States Secret Service was established as a bureau of the Treasury for the purpose of controlling the counterfeiters whose activities were destroying the public's confidence in the nation's currency. -
US mint "CC"
The US mint CC stands for Carson City, Nevada -
FIrst US commemorative Coin
This coin was made in tribute to Christopher Columbus who sailed the ocean blue in 1492. It was the start to the US tribute collection of coins. -
Background Color
The last United States paper money printed with background color was the $20 Gold Certificate, Series 1905, which had a golden tint and a red seal and serial number. -
US Mint "D"
The US mint "D" Stands For Denver, Colorado. This mint was created to take place of the other "D" mint. This processing center is still in use today. -
Federal Reserve Act
This created the federal reserve system as the nation's bank to help regulate the flow of money and credit to help create financial stability. The system was to authorize the use of federal reserve notes. This is 99% of the money in circulation today. -
In God We Trust
The use of the National Motto In God We Trust on all currency has been required by law since 1955. It first appeared on paper money with the issuance of the $1 Silver Certificates, Series 1957, and began appearing on Federal Reserve Notes with the 1963 Series. -
US Mint "W"
The US mint "W" stands for West Point, New York. This processing center still is making US currency today. -
Redesign of Currency
In the first significant design change in 67 years, United States currency was redesigned to incorporate a series of new counterfeit deterrents. The new bills were issued beginning with the $100 bill in 1996, followed by the $50 in 1997, the $20 in 1998 and the $10 and $5 bills in 2000. The Bureau of Engraving and Printing announced that new designs would be undertaken every 7-10 years to stay ahead of currency counterfeiters.
