Currency

Great spenders are bad lenders

Currency

Read all about the different types of US domination's to help you familarise with the currency and make sure you know what you are spending! Further find out about what domination's are no longer in use to ensure you don't get scammed and make the most out of your vacation!

So what does US currency consist of?

The US has two types of currency –  the coin, and the paper bill. The coin ranges from a Penny to a golden dollar coin, while the paper bill ranges from $1 up to a $100,000 bill.

In 1969 however, the Treasury Department and the Fed discontinued $500, $1000, $5000, $10000 and $100,000 bills as there was little use for them and they are much easier for criminals to steal than lots of smaller value notes. Although discontinued in their production, these bills are all legitimate legal tender and still in circulation (except the $100,000, which is only used in “fiscal channels”) with most owned by collectors.

The US bills currency in production are $1, $2, $5, $10, $20, $50 and $100 only.

For those who may be unfamiliar with the difference between US currency, here is a brief summary of each of the different coins and notes and the images engraved on them.

 Paper bills/notes:
A paper bill made out of cotton (75%) and linen (25%).

The $1-dollar bill is illustrated with George Washington on its obverse side and The Great Seal of the United States on its reserve side.

The $2-dollar bill has the face of the former president Thomas Jefferson, printed on its front and the Signing of the Declaration of Independence on the reverse side of the bill.

The $5-dollar bill, like the penny coin, also has the former president Abraham Lincoln’s face and the Lincoln Memorial printed on it.  

On the $10-dollar bill is the face of Alexander Hamilton. He became the first secretary of the treasury and was known as George Washington’s most dominant adviser.

The $20-dollar bill has of the 7th U.S president, Andrew Jackson, and the White House printed on it. In 1812, Jackson became a military hero in the US-Britain war and was America’s most influential–political figure throughout the early 1800’s.

The $50-dollar bill displays the 18th U.S president, Ulysses S. Grant on the front side and the U.S Capitol on its reserve side. Grant was the president between 1869-1877.

 

The $100-dollar bill currency the highest US domination produced by the US Treasury. It illustrates an image of Benjamin Franklin on the front and the Independence Hall on the other. Franklin is known as one of the most leading figures in early American history; he was talented in many aspects and throughout his career, he became a statesman, a publisher, a scientist, a diplomat as well as an author and an inventor.

The US law forbids portraits of living individuals to be seen on Government Securities. Therefore, the portraits used on the US currency notes are of deceased individuals who remain striking figures in American history.

Coins:

The Penny coin is equivalent to 1 cent and is currently made from copper plated zinc Engraved on the coin is the face of the 16th U.S. President, Abraham Lincoln. The reason for Lincoln facing to the right on the coin is because to the right “because the penny was an adaptation of a plaque.”

The Nickel, Dime and Quarter, on the other hand, are all made from nickel and copper.

The Nickel coin is equivalent to 5 cents and is engraved with Mr. Thomas Jefferson who was the third U.S. president. A leading figure in America’s early development, he was elected president in 1800 holding the view that the government should have a little influence in citizens’ lives.

Franklin Delano Roosevelt – the 32nd U.S. President is the figure engraved on the Dime coin (10 cents).

On the back of the dime, you can see an oak branch to the right, an olive branch to the left and a torch in the center of the coin. The oak branch represents independence and strength, whist the olive branch signifies peace and the torch represents freedom.

On the Quarter coin (25 cents) is the face of the first U.S president, George Washington. He was the commander in chief of the American army during America’s revolutionary war (1775-1783).

The Half-Dollar coin (equivalent to 50 cents) has the face of John F. Kennedy (the 35th U.S. President) on the front side of the and the Presidential Seal on the other.

The Silver Dollar coin is engraved with Susan B. Anthony on its front and the Apollo 11 Insignia, Eagle on its reverse side.

The Golden Dollar coin has Sacagawea engraved on the front side whereas the soaring Eagle and 17 Stars are engraved on its reserve.  

Both the silver and the golden dollar coins have the same value as a 1 dollar note.

1-penny-fgbrj