US Money: Paper Dollars and Coins
The dollar is the most popular currency in the world today. This monetary unit is known everywhere. What money is in the US now? How did they come about?
History of occurrence
It all started with thalers, more precisely with "yoahimstalerov." This is the name of silver coins from the mine of the city of Jáchymov (modern Czech Republic). The name was quickly picked up by the Swedes, the British, the Dutch, the Italians, the Flemings, mutating the sound in its own way. So, the dollar in colonial America, the British initially called Spanish coins. As a US currency, dollars were declared in 1785.
Paper money in the form of bonds appeared inMassachusetts back in 1690. Re-released in 1703, and a few years later paper bills spread throughout America. During the War of Independence, even a "continental dollar" appeared that displaced metal coins from circulation.
The main problem of such money was their fastdepreciation. Already by 1781, the currency devalued about 40 times. Six years later, the law on obligatory reinforcement of paper bills with gold or silver was issued. In 1792, the first minted US coins appeared.
Despite all the measures that have been takengovernment, American money did not differ in stability and standard. Therefore, in 1861, a single currency appears, the seal of which is entrusted to American Bank Note Co. Issued bills denominations of 5, 10, 20 dollars were green and immediately received the name "greenbacks".
In 1913, the US funds are issued specificallycreated for this purpose Federal Reserve Banks. For many years, the dollar maintained stability. Shaken by the Great Depression in 1933. However, after the Second World War, the role of the United States in world politics increased significantly, and American money began to be sent to European countries. Dollars soon became the main currency of the "old lady of Europe", replacing even British pounds sterling.
In 1971, the world reserve currency beginsdevaluate again. After a while, on the initiative of President Nixon, the dollar's reinforcement of gold is canceled. The American currency already had a certain credit of trust, therefore depreciation in any way has not affected its world status. It still remained reserve.
Currently, the dollar is considered a nationalthe currency of the United States. In addition, even in the XIX-XX century it became the unofficial currency of many other countries. So, Canada declared it a national currency in 1857. Now the US money has national status in El Salvador, Panama, Palau, Bermuda, Marshall Islands, Virgin Islands, East Timor, etc. In some countries, the dollar is quite legitimately used in parallel with the national currency, for example, before it was in Zimbabwe.
In 1913, the Federal Reserve was createdThe system, which to this day is responsible for issuing American money to print. The banknotes and coins are made according to the needs of the country, about half of the total number of printed dollars is sent out of it. Only 1% of the money produced is not in free circulation. The lion's share of the denominations is printed in order to replace the worn out copies.
All the notes that were issued from 1861 tonow considered to be valid and lawful. Paper money of the United States is issued in denominations of 1, 2, 5, 10, 20, 50, 100 dollars. They freely rotate in turnover.
There are also denominations denominations of 500, 1000, and even10 000. But they are gradually withdrawn from circulation due to inconvenience in use. Due to this, the cost of such banknotes at auctions is much higher than their denomination. A denomination of $ 10,000 in circulation remained slightly more than 100. In 1934, the US reserve bank issued a banknote of $ 100,000, although it was used exclusively for settlements within the Federal Reserve System.
Absolutely all the bills have the same size. Their weight is about 1 gram. In 1928, the general concept of the appearance of the dollar was developed. Since then, portraits of presidents and important statesmen have been placed on US money. So, the bills depicts the first US Treasury Secretary Hamilton, John Marshall - Chief Justice of the Supreme Court. On a $ 1 bill, the first President of the United States George Washington is portrayed.
On the other side of the national banknote are depictedimportant historical symbols of the country. On the back of the $ 1 bill, the main motto of the US is placed: "We Believe in God," a $ 5 note is the Lincoln Memorial, the Ministry of Finance building is 10, and the White House is 20 dollars. The rarest bill in circulation - $ 2, on its reverse side is the act of signing the Declaration of Independence.
Each American coin, depending on thenominal value, has its own common name. Currently, there are coins in circulation of 1 cent, which in another way are called "pennies", a coin of 5 cents (nickel), 10 cents (daim), 25 cents (quater), 1 dollar (bucks). There are also 50-cent coins called "Half". They are produced in small quantities, mainly for collectors.
Coinage of the United States is engaged in several coinsCourts in San Francisco, Denver, West Point, New Orleans and Philadelphia. Each of them leaves a distinctive sign in the form of English beech P, S, W, O, D.
The first US coins, dating back to 1792,minted out of gold and silver, in the ratio of 1 to 15. The coins must necessarily have the inscription "Freedom" and symbols associated with this concept. On the reverse side, the image of the eagle was placed. Now only collectible coins are made of precious metals, for the rest they use zinc, nickel alloy and brass.
Expensive and rare coins
One fact in 1853 provoked the appearance ofa coin of 3 cents, which is considered rare. It was to this cost that the price of a postage stamp fell. Their chasing stopped in 1889, it is almost impossible to find them.
In 1848 in California begins the "goldenfever ", so in 1849 a decision is made to issue new gold coins with denominations of 1 and 20 dollars. After the "Great Depression" gold coins were withdrawn from circulation, and the most expensive of them is now considered to be 20 dollars in 1933 issue.
After it the most expensive American coinsThe silver dollar of the year 1804 is considered to be sold for 4 million, and also 5 cents in 1913, issued in only five copies (each worth about 4 million).