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Paper currency in the United States is born, issued by the Massachusetts Bay Colony to fund military expeditions.
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The first $2 notes are Continentals.
The Continental Congress authorizes issuance of the $2 denominations in “bills of credit” for the defense of America. -
In order to finance the Civil War, Congress authorizes the U.S. Department of the Treasury to issue non-interest-bearing Demand Notes. These notes earn the nickname “greenbacks” because of the green ink on the back. -
The Treasury seal first appears on currency during the Civil War. The federal government issues the first $1 Legal Tender" notes. These banknotes feature a portrait of Secretary of the Treasury Salmon P. Chase. -
By 1862, the Demand Notes incorporate fine-line engraving, intricate geometric lathe work patterns, a U.S. Department of the Treasury seal, and engraved signatures to aid in counterfeit deterrence. U.S. currency continues to add features to deter counterfeits. -
After the Treasury issued Demand Notes, Congress authorizes a new class of currency known as “United States notes” or “Legal Tender notes.” These notes replace Demand Notes. Similar to Demand Notes, they are nicknamed "greenbacks."
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American money has depicted Liberty and Justice as allegorical figures. On interest-bearing notes of 1863, Justice can be seen holding her scales. She appears on the right side of a $50 bill from 1880 holding a sword and shield. -
The first $100 and $500 national bank notes feature John Trumbull’s paintings “Declaration of Independence” and “Surrender of General Burgoyne.” -
The 1869 series of United States notes features the first use of George Washington’s portrait. -
The Bureau of Engraving and Printing begins engraving and printing the faces and seals of U.S. banknotes. Before this, U.S. banknotes were produced by private banknote companies and then sent to the Bureau of Engraving and Printing for sealing, trimming, and cutting. -
The U.S. Department of the Treasury issues silver certificates. Legislation directing an increase in the purchase and coinage of silver authorizes the creation of the certificates.
