The United States dollar (sign A currency sign is a graphic symbol often used as a shorthand for a currency's name. Internationally, ISO 4217 codes are used instead of currency signs, though currency signs may be in common use in their respective countries. Most currencies in the world have no specific symbol: $ The dollar or peso sign is a symbol primarily used to indicate the various dollar and peso units of currency around the world; code ISO 4217 is the international standard describing three-letter codes to define the names of currencies established by the International Organization for Standardization (ISO). The ISO 4217 code list is the established norm in banking and business all over the world for defining different currencies, and in many countries the codes for the more: USD) is the official currency of the United States ^ b. English is the de facto language of American government and the sole language spoken at home by 80% of Americans age five and older. Spanish is the second most commonly spoken language. The U.S. dollar is normally abbreviated as the dollar sign The dollar or peso sign is a symbol primarily used to indicate the various dollar and peso units of currency around the world, $, or as USD or US$ to distinguish it from other dollar The dollar is the name of the official currency of many countries, including the United States, Australia, New Zealand, Canada, the Eastern Caribbean territories, Hong Kong, Taiwan, Singapore, Brunei, East Timor, Ecuador, Suriname, El Salvador, Panama, and Belize-denominated currencies and from others that use the $ symbol. It is divided into 100 cents In many national currencies, the cent is a monetary unit that equals 1⁄100 of the basic monetary unit. The word also refers to the coin which is worth one cent.

The U.S. dollar is the currency most used in international transactions International trade is exchange of capital, goods, and services across international borders or territories.. In most countries, it represents a significant share of gross domestic product . While international trade has been present throughout much of history (see Silk Road, Amber Road), its economic, social, and political importance has been on.^[9] Several countries use it as their official currency Dollarization occurs when the inhabitants of a country use foreign currency in parallel to or instead of the domestic currency. The term is not only applied to usage of the United States dollar, but generally to the use of any foreign currency as the national currency, and in many others it is the de facto currency A de facto currency is a unit of money that is not legal tender in a country but is treated as such by most of the populace. The United States dollar and the European Union euro are the most common de facto currencies,^[10] and is also used as the sole currency in some British Overseas Territories The British Overseas Territories are fourteen territories of the United Kingdom, which do not form part of the United Kingdom itself. They are the remnants of the British Empire that have not acquired independence or have voted to remain British territories.

Overview

The Constitution of the United States of America The Constitution of the United States of America is the supreme law of the United States. It is the foundation and source of the legal authority underlying the existence of the United States of America and the federal government of the United States. It provides the framework for the organization of the United States government and for the provides that the United States Congress The United States Congress is the bicameral legislature of the federal government of the United States of America, consisting of the Senate and the House of Representatives. The Congress meets in the United States Capitol in Washington, D.C shall have the power "To coin Money".^[11] As an exercise of that power, Congress enacted Section 5112 of Title 31 of the United States Code. Section 5112 provides that United States dollars shall be issued in two forms: (1) a coin made of a copper alloy and (2) a coin made of pure silver.^[12] Those coins are both designated in Section 5112 as "legal tender" in payment of debts.^[12] The Sacagawea dollar The Sacagawea dollar, called by the U.S. Mint the Sacagawea Golden Dollar Coin and beginning in 2009 the Native American $1 Coin, along with the Presidential Dollar series, is one of the two current United States dollar coins. This coin was first minted by the United States Mint in 2000 and depicts the Shoshone woman Sacagawea, a member of the is one example of the copper alloy dollar. The pure silver dollar is known as the American Silver Eagle The American Silver Eagle is the official silver bullion coin of the United States. It was first released by the United States Mint on November 24, 1986. It is struck only in the one-troy ounce size which has a nominal face value of one dollar and is guaranteed to contain one troy ounce of 99.9% pure silver. It is authorized by Title II of Public. Section 5112 also provides for the minting and issuance of other coins, which have values ranging from one-hundredth of one dollar to fifty dollars.^[12] These other coins are more fully described in Coins of the United States dollar United States coinage was first minted by the new republic in 1792. New coins have been produced every year since then and they make up a valuable aspect of the United States currency system. Today circulating coins exist in denominations: $0.01, $0.05, $0.10, $0.25, $0.50, and $1.00. Also minted are bullion and commemorative coins. All of these.

The Constitution provides that "a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time".^[13] That provision of the Constitution is made specific by Section 331 of Title 31 of the United States Code.^[14] The sums of money reported in the "Statements" are currently being expressed in U.S. dollars (for example, see the 2009 Financial Report of the United States Government).^[15] The U.S. dollar may therefore be described as the unit of account A unit of account is a standard monetary unit of measurement of the market value/cost of goods, services, or assets. It is one of three well-known functions of money. It lends meaning to profits, losses, liability, or assets of the United States.

The word "dollars" is one of the words in the first paragraph of Section 9 Article One of the United States Constitution describes the powers of Congress, the legislative branch of the federal government of Article 1 of the U.S. Constitution. In that context, "dollars" is a reference to the Spanish milled dollar, a coin that had a monetary Monetary policy is the process by which the monetary authority of a country controls the supply of money, often targeting a rate of interest. Monetary policy is usually used to attain a set of objectives oriented towards the growth and stability of the economy. These goals usually include stable prices and low unemployment. Monetary theory value of 8 Spanish units of currency, or reales The first real was introduced by King Pedro I of Castile at a value of 3 maravedíes. This rate of exchange increased until 1497, when the real was fixed at a value of 34 maravedíes. The famous Peso de a Ocho also known as Spanish dollar, was issued that same year, and it later became widespread in America and Asia. In 1566, the gold escudo was. In 1792 the U.S. Congress adopted legislation titled An act establishing a mint, and regulating the Coins of the United States The Coinage Act or the Mint Act, passed by the United States Congress on April 2, 1792, established the United States Mint and regulated the coinage of the United States. The long title of the legislation is An act establishing a mint, and regulating the Coins of the United States. This act established the dollar as the unit of money in the United. Section 9 of that act authorized the production of various coins, including "DOLLARS OR UNITS—each to be of the value of a Spanish milled dollar as the same is now current, and to contain three hundred and seventy-one grains and four sixteenth parts of a grain of pure, or four hundred and sixteen grains of standard silver". Section 20 of the act provided, "That the money of account of the United States shall be expressed in dollars, or units... and that all accounts in the public offices and all proceedings in the courts of the United States shall be kept and had in conformity to this regulation". In other words, this act designated the United States dollar as the unit of currency In economics, the term currency can refer to a particular currency, for example Pound Sterling, or to the coins and banknotes of a particular currency, which comprise the physical aspects of a nation's money supply. The other part of a nation's money supply consists of money deposited in banks , ownership of which can be transferred by means of of the United States.

The U.S. dollar bill uses the decimal system, consisting of 100 equal cents (symbol ¢). In another division, there are 1,000 mills The mill or mille (sometimes mil in the UK, when discussing property taxes in the United States, or previously in Cyprus and Malta) is a now abstract unit of currency used sometimes in accounting. In the United States, it is equivalent to 1/1000 of a United States dollar (a tenth of a cent). In the United Kingdom it was proposed during the decades or ten dimes to a dollar, or 4 quarters to a dollar. However, only cents are in everyday use as divisions of the dollar; "dime" is used solely as the name of the coin The dime is a coin worth ten cents or one tenth of a United States dollar. The dime is the smallest in diameter and the thinnest of all U.S. coins currently minted for circulation. The 32nd President, Franklin D. Roosevelt, is featured on the obverse of the current design, while a torch, oak branch, and olive branch covering the motto E pluribus with the value of 10¢, while "eagle" and "mill" are largely unknown to the general public, though mills are sometimes used in matters of tax To tax is to impose a financial charge or other levy upon a taxpayer (an individual or legal entity) by a state or the functional equivalent of a state such that failure to pay is punishable by law levies and gasoline Gasoline or petrol is a petroleum-derived liquid mixture which is primarily used as a fuel in internal combustion engines. It is also used as a solvent, mainly known for its ability to dilute paints prices. When currently issued in circulating form, denominations equal to or less than a dollar are emitted as U.S. coins United States coinage was first minted by the new republic in 1792. New coins have been produced every year since then and they make up a valuable aspect of the United States currency system. Today circulating coins exist in denominations: $0.01, $0.05, $0.10, $0.25, $0.50, and $1.00. Also minted are bullion and commemorative coins. All of these while denominations equal to or greater than a dollar are emitted as Federal Reserve notes A Federal Reserve Note is a type of banknote issued by the Federal Reserve System and is the only type of U.S. banknote that is still produced today (with the exception of gold, silver and platinum coins valued up to $100 as legal tender, but worth far more as bullion). Both one-dollar coins and notes are produced today, although the note form is significantly more common. In the past, "paper money" was occasionally issued in denominations less than a dollar (fractional currency Treasury Note refers to a type of representative money issued by the United States government under authority of the Sherman Silver Purchase Act in denomiations of $1, $2, $5, $10, $20, $50, $100 and $1000. A $500 note was designed but never issued) and gold coins were issued for circulation With regards to a particular currency, circulation refers to the total wealth of that currency that is engaged in that currency's economy at a given time. Circulation can also refer to the metaphorical or literal movement of wealth due to transactions between the holders of a currency. The euro, the official currency of the European Union, is up to the value of $20 A Double Eagle is a gold coin of the United States with a denomination of $20. . The coins are made from a 90% gold (0.900 fine = 21.6 kt) and 10% copper alloy (known as the "double eagle," discontinued in the 1930s). The term eagle The eagle is a base-unit of denomination issued only for gold coinage by the United States Mint. It has been obsolete as a circulating denomination since 1933. The eagle was the largest of the four main decimal base-units of denomination used for circulating coinage in the United States prior to 1933, the year when gold was withdrawn from was used in the Coinage Act of 1792 The Coinage Act or the Mint Act, passed by the United States Congress on April 2, 1792, established the United States Mint and regulated the coinage of the United States. The long title of the legislation is An act establishing a mint, and regulating the Coins of the United States. This act established the dollar as the unit of money in the United for the denomination of ten dollars, and subsequently was used in naming gold Gold is a chemical element with the symbol Au (from Latin: aurum, "shining dawn", hence adjective, aureate) and an atomic number of 79. It has been a highly sought-after precious metal for coinage, jewelry, and other arts since the beginning of recorded history. The metal occurs as nuggets or grains in rocks, in veins and in alluvial coins. In 1854, James Guthrie James Guthrie was a U.S. Senator from Kentucky and served as Secretary of the Treasury in the administration of President Franklin Pierce, then Secretary of the Treasury The United States of America Secretary of the Treasury is the head of the United States Department of the Treasury, concerned with finance and monetary matters, and, until 2003, some issues of national security and defense. This position in the Federal Government of the United States is analogous to the finance ministers of other countries. Most, proposed creating $100, $50 and $25 gold coins, which were referred to as a "Union," "Half Union," and "Quarter Union,"^[16] thus implying a denomination of 1 Union = $100.

Today, USD notes are made from cotton Cotton is a soft, fluffy staple fiber that grows in a boll around the seeds of the cotton plant . The plant is a shrub native to tropical and subtropical regions around the world, including the Americas,Africa , India and Pakistan. The fiber most often is spun into yarn or thread and used to make a soft, breathable textile, which is the most fiber paper, unlike most common paper Paper is a thin material mainly used for writing upon, printing upon or for packaging. It is produced by pressing together moist fibers, typically cellulose pulp derived from wood, rags or grasses, and drying them into flexible sheets, which is made of wood fiber. U.S. coins are produced by the United States Mint The United States Mint primarily produces circulating coinage for the United States to conduct its trade and commerce. The Mint was created by Congress with the Coinage Act of 1792, and placed within the Department of State. Per the terms of the Coinage Act, the first Mint building was in Philadelphia, then the U.S. capital; it was the first. U.S. dollar banknotes A banknote is a kind of negotiable instrument, a promissory note made by a bank payable to the bearer on demand, used as money, and in many jurisdictions is legal tender. Along with coins, banknotes make up the cash or bearer forms of all modern fiat money. With the exception of non-circulating high-value or precious metal commemorative issues, are printed by the Bureau of Engraving and Printing The Bureau of Engraving and Printing is a government agency within the United States Department of the Treasury that designs and produces a variety of security products for the United States Government, most notable of which is paper currency for the Federal Reserve. The Federal Reserve itself is the central bank of the United States of America, and, since 1914, have been issued by the Federal Reserve The Federal Reserve System is the central banking system of the United States. It was created in 1913 with the enactment of the Federal Reserve Act, and was largely a response to a series of financial panics, particularly a severe panic in 1907. Over time, the roles and responsibilities of the Federal Reserve System have expanded and its structure. The "large-sized notes A large-sized note is a bill of any denomination of U.S. currency printed between 1863 and 1929. This is in contrast with small-sized notes, which were printed starting in 1928. Large-sized notes exist in denominations of $1 through $10,000. The most common large-sized notes are the Federal Reserve Notes of Series 1914 and 1918. These are detailed" issued before 1928 measured 7.42 inches (188 mm) by 3.125 inches (79.4 mm); small-sized notes A large-sized note is a bill of any denomination of U.S. currency printed between 1863 and 1929. This is in contrast with small-sized notes, which were printed starting in 1928. Large-sized notes exist in denominations of $1 through $10,000. The most common large-sized notes are the Federal Reserve Notes of Series 1914 and 1918. These are detailed, introduced that year, measure 6.14 inches (156 mm) by 2.61 inches (66 mm) by 0.0043 inches (0.11 mm).

Etymology

In the 1500s, Count Hieronymus Schlick of Bohemia Bohemia (Czech: Čechy; German: Böhmen ; Polish: Czechy; French: Bohême; Latin: Bohemia) is a historical region in central Europe, occupying the western two-thirds of the traditional Czech Lands. It is located in the contemporary Czech Republic with its capital in Prague. In a broader meaning, it often refers to the entire Czech territory, began minting coins known as Joachimstalers (from German thal, or nowadays usually Tal, "valley", cognate with "dale" in English), named for Joachimstal Jáchymov is a spa town in north-west Bohemia in the Czech Republic belonging to the Karlovy Vary Region. It is situated at an altitude of 733 m above sea level in the eponymous St. Joachim's valley in the Ore Mountains, close to the border to Germany, the valley where the silver was mined (St. Joachim's Valley, now Jáchymov; then part of the Holy Roman Empire The Holy Roman Empire (HRE; German: Heiliges Römisches Reich , Latin: Imperium Romanum Sacrum (IRS), Italian: Sacro Romano Impero (SRI)) was for about a millennium a realm in Central Europe under a Holy Roman Emperor. Its character changed during the Middle Ages and the Early Modern period, when the power of the emperor gradually weakened in, now part of the Czech Republic The Czech Republic (pronounced /ˈtʃɛk/ chek; Czech: Česká republika, pronounced [ˈtʃɛskaː ˈrɛpuˌblɪka] ( listen), short form Česko [ˈtʃɛskɔ]) is a landlocked country in Central Europe. The country borders Poland to the northeast, Germany to the west and northwest, Austria to the south and Slovakia to the east. The Czech Republic).^[17] Joachimstaler was later shortened to the German Taler The Thaler was a silver coin used throughout Europe for almost four hundred years. Its name lives on in various currencies as the dollar or tolar. Etymologically, "Thaler" is an abbreviation of "Joachimsthaler", a coin type from the city of Joachimsthal (Jáchymov) in Bohemia, where some of the first such coins were minted in 15, a word that eventually found its way into Danish and Swedish as daler, Dutch as daalder, Ethiopian as talari, Italian as tallero, Flemish as daelder, and English as dollar.^[17] Alternatively, thaler is said to come from the German coin Guldengroschen ("great guilder", being of silver but equal in value to a gold guilder), minted from the silver from Joachimsthal.

Nicknames

The colloquialism buck (much like the British term "quid") is often used to refer to dollars of various nations, including the U.S. dollar. This term, dating to the 18th century, may have originated with the colonial fur trade. Greenback is another nickname originally applied specifically to the 19th century Demand Note dollars created by Abraham Lincoln to finance the costs of the Civil War for the North. The original note was printed in black and green on the back side. It is still used to refer to the U.S. dollar (but not to the dollars of other countries). Other well-known names of the dollar as a whole in denominations include "greenmail", "green", and "dead presidents", (the last due to the fact that mostly late presidents are represented on the bills).

Grand, sometimes shortened to simply G, is a common term for the amount of $1,000. The suffix k (from "kilo-") is also commonly used to denote this amount (such as "$10k" to mean $10,000). In street slang, when someone refers to a "large" or "stack", they are usually referring to any amount of $1,000, such as "fifty large", meaning $50,000. Banknotes' nicknames are the same as their values (such as five, twenty, etc.) The $5 bill has been referred to as a "fin" or a "fiver" or a "five-spot;" the $10 bill as a "sawbuck," a "ten-spot," or a "Hamilton"; the $20 bill as a "double sawbuck," or a "Jackson"; the $1 bill is sometimes called a "single," or a "buck," the $2 bill a "deuce," "Jefferson," or a "T.J." and the $100 bill is nicknamed a "Benjamin," "Benji," or "Franklin" (after Benjamin Franklin, who is pictured on the note), C-note (C being the Roman numeral for 100), Century Note, or "bill" ("two bills" being $200, etc.). The dollar has also been referred to as a "bone" or "bones" (i.e., twenty bones is equal to $20) or a "bean". The newer designs are sometimes referred to as "Bigface" bills, or "Monopoly Money". Some people refer to U.S. money as "cha-chingers," "bucks," "green-backs," and also "smackers."

In Panama, the equivalent of buck is "palo" (literally "stick"). In Ecuador, the dollar is referred to as "lata". Puerto Ricans, both in Puerto Rico and in the U.S., may refer to the dollar as a peso. In French-speaking areas of Louisiana, the dollar is referred to as a piastre which is pronounced "pee-as", and cents by the French holdover of sous, pronounced "soo." In Mexico, in some places prices in dollars are referred to as "en americano" ("in American"). (In Mexico, peso is used primarily for the Mexican peso.) In Peru, a nickname for the U.S. dollar is coco, which is a pet name for Jorge (George in Spanish), a reference to the portrait of George Washington on the $1 note.

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