The US monetary system: dollar bills and coins

The United States has a relatively short history of its formation. However, during this time in the territory of this state there was a huge number of events that influenced the development of life not only inside the country, but also far beyond its borders. The thing is that it was the New World (as America was called after its discovery) that has a powerful lever of influence on the world community. It's about the national currency of the US - the dollar.

The GDP of this state occupies a huge share in the total world volume. It is thanks to sustainable development and the growth of the country's welfare that its national monetary unit is by right the main reserve currency of the planet's economy.

Dollar of the New World

The banknotes of dollars, which the modern society knows, initially had a completely different appearance. Emission of monetary units began in the United States in 1861, when the Civil War took place, which was called the "War of the North and the South." Even issued at that time, banknotes are still a full legal tender. Each dollar includes one hundred American cents. At the same time, issuing bank notes can only be issued by institutions that are members of the US Trust, which is called the Federal Reserve System.

All the bills of dollars, which were issued before 1971, were backed by the country's gold reserve. Then this law was abolished, and at the moment the issue of banknotes does not contain a "solid" and "metal" foundation. An interesting point is that, in addition to the United States, this currency is considered national in other countries. Salvador and the Marshall Islands are successfully using the dollar bills issued in the New World.

Denominations and coins

Along with paper currency units, citizens of the country also use metal signs. Abraham Lincoln is minted on a one-cent coin . Being smaller at face value, this sign is by no means the smallest in size. A tiny one is a ten cent coin. Between these two metal rounds there is also an intermediate minted sign - five cents. In addition, in circulation there are coins in a quarter, half and one dollar.

And the penultimate began to be released relatively recently - in 2011. Dollar denominations are also issued in almost all of these denominations. However, there are some peculiarities: there is no $ 25 note - only 20.

Do not forget the additional paper money signs. Despite the presence of banknotes of different denominations, the most popular among counterfeiters is a hundred-dollar bill bearing the image of Benjamin Franklin. This banknote is one of the most common in the world. Currently, the US government is already fully moving to introduce a new, more secure bill to the world.

Another interesting banknote put into circulation is a bank ticket with a face value of $ 2. Emission of these banknotes is not permanent, so getting it into your wallet is not as easy as usual 1 or 5 dollars. A note in 3 US monetary units also existed. However, a very short time. The main feature of the three-dollar note was its one-sided "coloring". At the moment, the US government is considering options to withdraw from circulation of denominations of minimal dignity. Soon, one-dollar and two-dollar banknotes will be replaced by metal analogues. However, the final scheme for the implementation of this procedure has not yet been announced.

Large rare bills

Many believe that the biggest dollar bill is a one thousand dollar cash ticket. Only a few know that in the territory of the country "bald eagles" had circulation of banknotes with a denomination exceeding one thousand, five, ten and even a hundred times. In this case, only the last bill never fell into the broad masses. However, in order to combat corruption and crime, the issue of bank notes worth more than a hundred dollars was terminated. Until now, in some places in the US, you can find bills of $ 1000 or $ 500, the value of which is much higher than the nominal value of coins.