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.
