United States dollar

"USD" redirects here. For other uses, seeUSD (disambiguation).

United States dollar

Federal Reserve Notes(obverse)
ISO 4217
Code	USD (numeric:840)
Subunit	0.01
Unit
Symbol	$,US$, U$‎
Nickname	List Ace, bean, bill, bone, buck, deuce, dough, dub, ducat, doubloon, fin, frog,greenback,large, simoleons, skins, smackeroo, smackers,spondulix,Tom, yard, and eagle Plural: dead presidents, green, bones, clams Based on denomination: Washingtons,Jeffersons,Lincolns,Hamiltons,Jacksons,Grants,Benjamins,C-note, grand,sawbuck,single, Bluefaces, Blue Strips
Denominations
Superunit
10	Eagle
100	Union(Proposed, never issued)
Subunit
1⁄10	Dime
1⁄100	Cent
1⁄1000	Mill
Symbol
Cent	¢
Mill	₥
Banknotes
Freq. used	$1,$5,$10,$20,$50,$100
Rarely used	$2(still printed);$500,$1,000,$5,000,$10,000(discontinued, but still legal tender);$100,000(discontinued, not legal tender, and only used for specific purposes)
Coins
Freq. used	1¢,5¢,10¢,25¢
Rarely used	50¢,$1(still minted);1⁄2¢,2¢,3¢,20¢,$2.50,$3,$5,$10,$20(discontinued, but still legal tender)
Demographics
Date of introduction	April 2, 1792(1792-04-02)
Replaced	Continental currency Various foreign currencies, including: Pound sterling Spanish dollar
User(s)	see§ Formal users(11),§ Informal users(7)
Issuance
Central bank	Federal Reserve
Website	federalreserve.gov
Printer	Bureau of Engraving and Printing
Website	www.bep.gov
Mint	United States Mint
Website	usmint.gov
Valuation
Inflation	3.0% or 2.6%
Source	BLS(June 2024) orBEA(May 2024)
Method	CPIorPCE
Pegged by	see§ Pegged currencies

TheUnited States dollar(symbol:$;currency code:USD;also abbreviatedUS$to distinguish it fromother dollar-denominated currencies;referred to as thedollar,U.S. dollar,American dollar,or colloquiallybuck) is the officialcurrencyof theUnited Statesandseveral other countries.TheCoinage Act of 1792introduced the U.S. dollar at par with theSpanish silver dollar,divided it into 100cents,and authorized themintingof coins denominated in dollars and cents. U.S. banknotes are issued in the form ofFederal Reserve Notes,popularly called greenbacks due to their predominantly green color.

Themonetary policy of the United Statesis conducted by theFederal Reserve System,which acts as the nation'scentral bank.

The U.S. dollar was originally defined under abimetallic standardof 371.25 grains (24.057 g) (0.7735 troy ounces) fine silver or, from 1837, 23.22 grains (1.505 g) fine gold, or $20.67 pertroy ounce.TheGold Standard Actof 1900 linked the dollar solely to gold. From 1934, its equivalence to gold was revised to $35 pertroy ounce.In 1971 all links to gold were repealed.

The U.S. dollar became an important internationalreserve currencyafter theFirst World War,and displaced thepound sterlingas the world's primary reserve currency by theBretton Woods Agreementtowards the end of theSecond World War.The dollar is themost widely used currencyininternational transactions,and afree-floating currency.It is also theofficial currency in several countriesand thede factocurrencyin many others,withFederal Reserve Notes(and, in a few cases, U.S. coins) used in circulation.

As of February 10, 2021, currency in circulation amounted toUS$2.10trillion,$2.05 trillionof which is in Federal Reserve Notes (the remaining$50 billionis in the form ofcoinsand older-styleUnited States Notes).

As of September 20, 2023, the Federal Reserve estimated that the total amount of currency in circulation was approximatelyUS$2.33trillion.

Overview

In the Constitution

Article I,Section 8of theU.S. Constitutionprovides thatCongresshas the power "[t]ocoin money."Laws implementing this power are currently codified inTitle 31of theU.S. Code,under Section 5112, which prescribes the forms in which the United States dollars should be issued.These coins are both designated in the section as "legal tender"in payment of debts.TheSacagawea dollaris one example of thecopper alloydollar, in contrast to theAmerican Silver Eaglewhich is puresilver.Section 5112 also provides for themintingandissuanceof other coins, which have values ranging fromone cent(U.S. Penny) to 100 dollars.These other coins are more fully described inCoins of the United States dollar.

Article I, Section 9of 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",which is further specified by Section 331 of Title 31 of the U.S. Code.The sums of money reported in the "Statements" are currently expressed in U.S. dollars, thus the U.S. dollar may be described as theunit of accountof the United States."Dollar" is one of the first words of Section 9, in which the term refers to theSpanish milled dollar,or the coin worth eightSpanish reales.

Coinage Act

In 1792, theU.S. Congresspassed theCoinage Act,of which Section 9 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-onegrainsand four sixteenth parts of a grain of pure, or four hundred and sixteen grains of standard silver.

Section 20 of the Act designates the United States dollar as theunit of currencyof the United States:

[T]he 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.

Decimal units

Unlike the Spanish milled dollar, theContinental Congressand the Coinage Act prescribed adecimal systemof units to go with the unit dollar, as follows:themill,or one-thousandth of a dollar; thecent,or one-hundredth of a dollar; thedime,or one-tenth of a dollar; and theeagle,or ten dollars. The current relevance of these units:

• Only thecent(¢) is used as everyday division of the dollar.
• Thedimeis used solely as the name of thecoinwith the value of 10 cents.
• Themill(₥) is relatively unknown, but before the mid-20th century was familiarly used in matters ofsales taxes,as well asgasoline prices,which are usually in the form of $ΧΧ.ΧΧ9 pergallon(e.g., $3.599, commonly written as $3.59+9⁄10).
• Theeagleis also largely unknown to the general public.This term was used in theCoinage Act of 1792for the denomination of ten dollars, and subsequently was used in naming gold coins.

TheSpanish peso or dollarwas historically divided into eightreales(colloquially,bits) – hencepieces of eight.Americans also learned counting in non-decimalbitsof12+1⁄2cents before 1857 when Mexicanbitswere more frequently encountered than American cents; in fact this practice survived inNew York Stock Exchangequotations until 2001.

In 1854,Secretary of the TreasuryJames Guthrieproposed creating $100, $50, and $25 gold coins, to be referred to as aunion,half union,andquarter union,respectively,thus implying a denomination of 1 Union = $100. However, no such coins were ever struck, and only patterns for the $50 half union exist.

When currently issued in circulating form, denominations less than or equal to a dollar are emitted asU.S. coins,while denominations greater than or equal to a dollar are emitted asFederal Reserve Notes,disregarding these special cases:

• Gold coins issued forcirculationuntil the 1930s, up to the value of $20 (known as thedouble eagle)
• Bullion or commemorativegold,silver,platinum,andpalladium coinsvalued up to $100 as legal tender (though worth far more asbullion).
• Civil War paper currency issue in denominations below $1, i.e. fractional currency, sometimes pejoratively referred to asshinplasters.

Etymology

Further information:Dollar

In the 16th century, CountHieronymus SchlickofBohemiabegan minting coins known asjoachimstalers,named forJoachimstal,the valley in which the silver was mined. In turn, the valley's name is titled afterSaint Joachim,wherebythalortal,a cognate of the English worddale,isGermanfor 'valley.'Thejoachimstalerwas later shortened to the Germantaler,a word that eventually found its way into many languages, including: tolar(Czech,SlovakandSlovenian);daler(DanishandSwedish); dalaranddaler(Norwegian);dalerordaalder(Dutch); talari(Ethiopian); tallér(Hungarian); tallero(Italian); دولار(Arabic); anddollar(English).

Though theDutchpioneered in modern-dayNew Yorkin the 17th century the use and the counting of money in silver dollars in the form of German-Dutchreichsthalersand native Dutchleeuwendaalders('lion dollars'), it was the ubiquitousSpanish Americaneight-real coinwhich became exclusively known as thedollarsince the 18th century.

Nicknames

See also:Slang terms for money § United States

Thecolloquialismbuck(s)(much like the Britishquidfor thepound sterling) 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 colonialleathertrade, or it may also have originated from apokerterm.

Greenbackis another nickname, originally applied specifically to the 19th-centuryDemand Notedollars, which were printed black and green on the backside, created byAbraham Lincolnto finance theNorthfor theCivil War.It is still used to refer to the U.S. dollar (but not to the dollars of other countries). The termgreenbackis also used by the financial press in other countries, such as Australia,New Zealand,South Africa,andIndia.

Other well-known names of the dollar as a whole in denominations includegreenmail,green,anddead presidents,the latter of which referring to the deceased presidents pictured on most bills. Dollars in general have also been known asbones(e.g. "twenty bones" = $20). The newer designs, with portraits displayed in the main body of the obverse (rather than incameoinsets), upon paper color-coded by denomination, are sometimes referred to asbigfacenotes orMonopolymoney.

Piastrewas the original French word for the U.S. dollar, used for example in the French text of theLouisiana Purchase.Though the U.S. dollar is calleddollarin Modern French, the termpiastreis still used among the speakers ofCajun FrenchandNew England French,as well as speakers inHaitiand otherFrench-speaking Caribbeanislands.

Nicknames specific to denomination:

• Thequarter dollarcoin is known astwo bits,alluding the dollar's origins as the "piece of eight" (bits orreales).
• The$1 billis nicknamedbuckorsingle.
• The infrequently-used$2 billis sometimes calleddeuce,Tom,orJefferson(afterThomas Jefferson).
• The$5 billis sometimes calledLincoln(afterAbraham Lincoln),fin,fiver,orfive-spot.
• The$10 billis sometimes calledsawbuck,ten-spot,orHamilton(afterAlexander Hamilton).
• The$20 billis sometimes calleddouble sawbuck,Jackson(afterAndrew Jackson), ordouble eagle.
• The$50 billis sometimes called ayardstick,or agrant,after PresidentUlysses S. Grant.
• The$100 billis calledBenjamin,Benji,Ben,orFranklin,referring to its portrait ofBenjamin Franklin.Other nicknames includeC-note(C being theRoman numeralfor 100),century note,orbill(e.g.two bills= $200).
• Amounts or multiples of $1,000 are sometimes calledgrandin colloquial speech, abbreviated in written form toG,K,ork(fromkilo;e.g. $10k = $10,000). Likewise, alargeorstackcan also refer to a multiple of $1,000 (e.g. "fifty large" = $50,000).

Dollar sign

Main article:Dollar sign

Spanish silver eight-realorpesoof 1768

The symbol$,usually written before the numerical amount, is used for the U.S. dollar (as well as for many other currencies). The sign was the result of a late 18th-century evolution of thescribal abbreviationp^sfor thepeso,the common name for theSpanish dollarsthat were in wide circulation in theNew Worldfrom the 16th to the 19th centuries. Thepand theseventually came to be written over each other giving rise to$.

Another popular explanation is that it is derived from thePillars of Herculeson theSpanish Coat of armsof theSpanish dollar.ThesePillars of Herculeson the silver Spanish dollar coins take the form of two vertical bars (||) and a swinging cloth band in the shape of anS.

Yet another explanation suggests that the dollar sign was formed from the capital lettersUandSwritten or printed one on top of the other. This theory, popularized by novelistAyn RandinAtlas Shrugged,does not consider the fact that the symbol was already in use before the formation of the United States.

History

See also:History of the United States dollar

Origins: the Spanish dollar

The U.S. dollar was introduced at par with the Spanish-Americansilver dollar(orSpanish peso,Spanish milled dollar,eight-real coin,piece-of-eight). The latter was produced from the rich silver mine output ofSpanish America,was minted inMexico City,Potosí(Bolivia),Lima(Peru), and elsewhere, and was in wide circulation throughout the Americas, Asia, and Europe from the 16th to the 19th centuries. The minting of machine-milled Spanish dollars since 1732 boosted its worldwide reputation as a trade coin and positioned it to be the model for the new currency of theUnited States.

Even after theUnited States Mintcommenced issuing coins in 1792, locally minteddollarsandcentswere less abundant in circulation thanSpanish Americanpesosandreales;hence Spanish, Mexican, and American dollars all remained legal tender in the United States until theCoinage Act of 1857.In particular, colonists' familiarity with the Spanish two-real quarter pesowas the reason for issuing a quasi-decimal25-cent quarter dollar coinrather than a 20-cent coin.

For the relationship between theSpanish dollarand the individual state colonial currencies, seeConnecticut pound,Delaware pound,Georgia pound,Maryland pound,Massachusetts pound,New Hampshire pound,New Jersey pound,New York pound,North Carolina pound,Pennsylvania pound,Rhode Island pound,South Carolina pound,andVirginia pound.

Coinage Act of 1792

See also:Coinage Act of 1792

Alexander Hamiltonfinalized the details of the 1792 Coinage Act and the establishment of the U.S. Mint.

On July 6, 1785, theContinental Congressresolved that the money unit of the United States, the dollar, would contain 375.64grainsof fine silver; on August 8, 1786, the Continental Congress continued that definition and further resolved that the money of account, corresponding with the division of coins, would proceed in adecimal ratio,with the sub-units being mills at 0.001 of a dollar, cents at 0.010 of a dollar, and dimes at 0.100 of a dollar.

After the adoption of theUnited States Constitution,the U.S. dollar was defined by theCoinage Act of 1792.It specified a "dollar" based on theSpanish milled dollarto contain371+4⁄16grainsof fine silver, or 416.0 grains (26.96 g) of "standard silver" of fineness 371.25/416 = 89.24%; as well as an "eagle" to contain247+4⁄8grains of fine gold, or 270.0 grains (17.50 g) of 22karator 91.67% fine gold.Alexander Hamiltonarrived at these numbers based on a treasury assay of the average fine silver content of a selection of wornSpanish dollars,which came out to be 371 grains. Combined with the prevailing gold-silver ratio of 15, the standard for gold was calculated at 371/15 = 24.73 grains fine gold or 26.98 grains 22K gold. Rounding the latter to 27.0 grains finalized the dollar's standard to 24.75 grains of fine gold or 24.75*15 = 371.25 grains = 24.0566 grams = 0.7735 troy ounces of fine silver.

The same coinage act also set the value of an eagle at 10 dollars, and the dollar at1⁄10eagle. It called for silver coins in denominations of 1,1⁄2,1⁄4,1⁄10,and1⁄20dollar, as well as gold coins in denominations of 1,1⁄2and1⁄4eagle. The value of gold or silver contained in the dollar was then converted into relative value in the economy for the buying and selling of goods. This allowed the value of things to remain fairly constant over time, except for the influx and outflux of gold and silver in the nation's economy.

Though aSpanish dollarfreshly minted after 1772 theoretically contained 417.7 grains of silver of fineness 130/144 (or 377.1 grains fine silver), reliable assays of the period in fact confirmed a fine silver content of 370.95 grains (24.037 g) for the average Spanish dollar in circulation. The new U.S. silver dollar of 371.25 grains (24.057 g) therefore compared favorably and was received at par with the Spanish dollar for foreign payments, and after 1803 theUnited States Minthad to suspend making this coin out of its limited resources since it failed to stay in domestic circulation. It was only after Mexican independence in 1821 when their peso's fine silver content of 377.1 grains was firmly upheld, which the U.S. later had to compete with using a heavier 378.0 grains (24.49 g)Trade dollar coin.

Design

The early currency of the United States did not exhibit faces of presidents, as is the custom now;although today, by law, only the portrait of a deceased individual may appear on United States currency.In fact, the newly formed government was against having portraits of leaders on the currency, a practice compared to the policies of European monarchs.The currency as we know it today did not get the faces they currently have until after the early 20th century; before that "heads" side of coinage used profile faces and striding, seated, and standing figures from Greek and Roman mythology and composite Native Americans. The last coins to be converted to profiles of historic Americans were the dime (1946), the half Dollar (1948), and the Dollar (1971).

Continental currency

See also:Continental currency

Continental one third dollar bill (obverse)

After theAmerican Revolution,theThirteen Coloniesbecameindependent.Freed from British monetary regulations, they each issued£sdpaper money to pay for military expenses. TheContinental Congressalso began issuing "Continental Currency" denominated in Spanish dollars. For its value relative to states' currencies, seeEarly American currency.

Continental currencydepreciatedbadly during the war, giving rise to the famous phrase "not worth a continental".A primary problem was that monetary policy was not coordinated between Congress and the states, which continued to issue bills of credit. Additionally, neither Congress nor the governments of the several states had the will or the means to retire the bills from circulation through taxation or the sale of bonds.The currency was ultimately replaced by the silver dollar at the rate of 1 silver dollar to 1000 continental dollars. This resulted in the clause "No state shall... make anything but gold and silver coin a tender in payment of debts" being written into theUnited States Constitution article 1, section 10.

Silver and gold standards, 19th century

From implementation of the 1792Mint Actto the 1900 implementation of thegold standard,the dollar was on abimetallicsilver-and-gold standard, defined as either 371.25grains(24.056 g) of fine silver or 24.75 grains of fine gold (gold-silver ratio 15).

Subsequent to theCoinage Act of 1834the dollar's fine gold equivalent was revised to 23.2 grains; it was slightly adjusted to 23.22 grains (1.505 g) in 1837 (gold-silver ratio ~16). The same act also resolved the difficulty in minting the "standard silver" of 89.24% fineness by revising the dollar's alloy to 412.5 grains, 90% silver, still containing 371.25 grains fine silver. Gold was also revised to 90% fineness: 25.8 grains gross, 23.22 grains fine gold.

Following the rise in the price of silver during theCalifornia Gold Rushand the disappearance of circulating silver coins, theCoinage Act of 1853reduced the standard for silver coins less than $1 from 412.5 grains to 384 grains (24.9 g), 90% silver per 100 cents (slightly revised to 25.0 g, 90% silver in 1873). The Act also limited thefree silverright of individuals to convertbullioninto only one coin, the silver dollar of 412.5 grains; smaller coins of lower standard can only be produced by theUnited States Mintusing its own bullion.

Summary andlinks to coinsissued in the 19th century:

• In base metal:1/2 cent,1 cent,5 cents.
• In silver:half dime,dime,quarter dollar,half dollar,silver dollar.
• In gold:gold $1,$2.50 quarter eagle,$5 half eagle,$10 eagle,$20 double eagle.
• Less common denominations:bronze 2 cents,nickel 3 cents,silver 3 cents,silver 20 cents,gold $3.

Note issues, 19th century

Series of 1917$1 United States Note

In order to finance theWar of 1812,Congress authorized the issuance ofTreasury Notes,interest-bearing short-term debt that could be used to pay public dues. While they were intended to serve as debt, they did function "to a limited extent" as money. Treasury Notes were again printed to help resolve the reduction in public revenues resulting from thePanic of 1837and thePanic of 1857,as well as to help finance theMexican–American Warand theCivil War.

Paper money was issued again in 1862 without the backing of precious metals due to theCivil War.In addition to Treasury Notes, Congress in 1861 authorized the Treasury to borrow $50 million in the form ofDemand Notes,which did not bear interest but could be redeemed on demand for precious metals. However, by December 1861, theUniongovernment's supply of specie was outstripped by demand for redemption and they were forced to suspend redemption temporarily. In February 1862 Congress passed theLegal Tender Act of 1862,issuingUnited States Notes,which were not redeemable on demand and bore no interest, but werelegal tender,meaning that creditors had to accept them at face value for any payment except for public debts and import tariffs. However, silver and gold coins continued to be issued, resulting in the depreciation of the newly printed notes throughGresham's Law.In 1869, Supreme Court ruled inHepburn v. Griswoldthat Congress could not require creditors to accept United States Notes, but overturned that ruling the next year in theLegal Tender Cases.In 1875, Congress passed theSpecie Payment Resumption Act,requiring the Treasury to allow U.S. Notes to be redeemed for gold after January 1, 1879.

Gold standard, 20th century

Golddouble eagle($20 coin), 1907

Though the dollar came under thegold standardde jureonly after 1900, thebimetallic erawas endedde factowhen theCoinage Act of 1873suspended the minting of the standardsilver dollarof 412.5 Troygrains= 26.73 g; 0.859 ozt, the only fully legal tender coin that individuals could convert bullion into in unlimited (orFree silver) quantities,and right at the onset of thesilver rushfrom theComstock Lodein the 1870s. This was the so-called "Crime of '73".

TheGold Standard Actof 1900 repealed the U.S. dollar's historic link to silver and defined it solely as 23.22 grains (1.505 g) of fine gold (or $20.67 pertroy ounceof 480 grains). In 1933, gold coins were confiscated byExecutive Order 6102underFranklin D. Roosevelt,and in 1934 the standard was changed to $35 per troy ounce fine gold, or 13.71 grains (0.888 g) per dollar.

After 1968 a series of revisions to the gold peg was implemented, culminating in theNixon Shockof August 15, 1971, which suddenly ended the convertibility of dollars to gold. The U.S. dollar has since floated freely on theforeign exchange markets.

Federal Reserve Notes, 20th century to present

See also:Federal Reserve Note

Obverse of a rare 1934 $500 Federal Reserve Note, featuring a portrait of PresidentWilliam McKinley

Reverse of a $500 Federal Reserve Note

Congress continued to issue paper money after the Civil War, the latest of which is theFederal Reserve Notethat was authorized by theFederal Reserve Act of 1913.Since the discontinuation of all other types of notes (Gold Certificates in 1933, Silver Certificates in 1963, and United States Notes in 1971), U.S. dollar notes have since been issued exclusively asFederal Reserve Notes.

Emergence as reserve currency

Main article:International use of the U.S. dollar

John Maynard Keynes(right) andHarry Dexter Whiteat the inaugural meeting of theInternational Monetary Fundin 1946. They were instrumental in drafting the provisions of the post-war global financial system.

The U.S. dollar first emerged as an important internationalreserve currencyin the 1920s, displacing the Britishpound sterlingas it emerged from theFirst World Warrelatively unscathed and since the United States was a significant recipient of wartime gold inflows. After the United States emerged as an even stronger globalsuperpowerduring theSecond World War,theBretton Woods Agreementof 1944 established the U.S. dollar as the world's primary reserve currency and the only post-war currency linked to gold. Despite all links to gold being severed in 1971, the dollar continues to be the world's foremost reserve currency for international trade to this day.

The Bretton Woods Agreement of 1944 also defined the post-World War II monetary order and relations among modern-dayindependent states,by setting up a system of rules, institutions, and procedures to regulate theinternational monetary system.The agreement founded theInternational Monetary Fundand other institutions of the modern-dayWorld Bank Group,establishing the infrastructure for conducting international payments and accessing the global capital markets using the U.S. dollar.

Themonetary policy of the United Statesis conducted by theFederal Reserve System,which acts as the nation'scentral bank.It was founded in 1913 under theFederal Reserve Actin order to furnish an elastic currency for the United States and to supervise its banking system, particularly in the aftermath of thePanic of 1907.

For most of the post-war period, theU.S. governmenthas financed its own spending by borrowing heavily from the dollar-lubricated global capital markets, in debts denominated in its own currency and at minimal interest rates. This ability to borrow heavily without facing a significantbalance of payments crisishas been described as theUnited States'sexorbitant privilege.

Coins

Main article:Coins of the United States dollar

TheUnited States Minthas issued legal tender coins every year from 1792 to the present. From 1934 to the present, the only denominations produced for circulation have been the familiar penny, nickel, dime, quarter, half dollar, and dollar.

Denomination	Common name	Obverse	Reverse	Obverse portrait and design date	Reverse motif and design date	Weight	Diameter	Material	Edge	Circulation
Cent 1¢	penny			Abraham Lincoln(1909)	Union Shield (2010)	2.5 g (0.088 oz)	0.75 in (19.05 mm)	97.5%Zncovered by 2.5%Cu	Plain	Wide
Five cents 5¢	nickel			Thomas Jefferson(2006)	Monticello(1938)	5.0 g (0.176 oz)	0.835 in (21.21 mm)	75% Cu 25%Ni	Plain	Wide
Ten cents 10¢	dime			Franklin D. Roosevelt(1946)	Olive branch,torch,andoak branch(1946)	2.268 g (0.08 oz)	0.705 in (17.91 mm)	91.67% Cu 8.33% Ni	118 reeds	Wide
Quarter dollar 25¢	quarter			George Washington(1932)	Various(5 designs per year)	5.67 g (0.2 oz)	0.955 in (24.26 mm)	91.67% Cu 8.33% Ni	119 reeds	Wide
Half dollar 50¢	half dollar			John F. Kennedy(1964)	Presidential Seal(1964)	11.34 g (0.4 oz)	1.205 in (30.61 mm)	91.67% Cu 8.33% Ni	150 reeds	Limited
Dollar coin $1	dollar coin, golden dollar			Sacagawea (2000)	Various(4 designs per year)	8.10 g (0.286 oz)	1.043 in (26.50 mm)	88.5% Cu 6% Zn 3.5%Mn 2% Ni	Plain 2000–2006 Lettered 2007–Present	Limited
These images are to scale at 2.5 pixels per millimetre. For table standards, see thecoin specification table.

Gold and silver coins have been previously minted for general circulation from the 18th to the 20th centuries. The last gold coins were minted in 1933. The last 90% silver coins were minted in 1964, and the last 40% silver half dollar was minted in 1970.

TheUnited States Mintcurrently produces circulating coins at thePhiladelphiaandDenver Mints,and commemorative and proof coins for collectors at theSan FranciscoandWest Point Mints.Mint mark conventions for these and for past mint branches are discussed inCoins of the United States dollar#Mint marks.

Theone-dollar coinhas never been in popular circulation from 1794 to present, despite several attempts to increase their usage since the 1970s, the most important reason of which is the continued production and popularity of theone-dollar bill.Half dollar coinswere commonly used currency since inception in 1794, but has fallen out of use from the mid-1960s when all silver half dollars began to be hoarded.

Thenickelis the only coin whose size and composition (5 grams, 75% copper, and 25% nickel) is still in use from 1865 to today, except for wartime 1942–1945Jefferson nickelswhich contained silver.

Due to the penny's low value, someefforts have been made to eliminate the pennyas circulating coinage.

For a discussion of other discontinued and canceled denominations, seeObsolete denominations of United States currencyandCanceled denominations of United States currency.

Collector coins

Collector coins are technically legal tender at face value but are usually worth far more due to their numismatic value or for their precious metal content. These include:

• American Eagle bullion coins
  • American Silver Eagle$1 (1troy oz) Silver bullion coin 1986–present
  • American Gold Eagle$5 (1⁄10troy oz), $10 (1⁄4troy oz), $25 (1⁄2troy oz), and $50 (1 troy oz) Gold bullion coin 1986–present
  • American Platinum Eagle$10 (1⁄10troy oz), $25 (1⁄4troy oz), $50 (1⁄2troy oz), and $100 (1 troy oz) Platinum bullion coin 1997–present
  • American Palladium Eagle$25 (1 troy oz) Palladium bullion coin 2017–present
• United States commemorative coins—special issue coins, among these:
  • $50.00 (Half Union)minted for thePanama-Pacific International Exposition (1915)
  • Silver proof sets minted since 1992 with dimes, quarters and half-dollars made of silver rather than the standard copper-nickel
  • Presidential dollar coinsproof sets minted since 2007

Banknotes

Main article:Federal Reserve Note

Denomination	Front	Reverse	Portrait	Reverse motif	First series	Latest series	Circulation
One dollar			George Washington	Great Seal of the United States	Series 1963 Series 1935	Series 2021	Wide
Two dollars			Thomas Jefferson	Declaration of IndependencebyJohn Trumbull	Series 1976	Series 2017A	Limited
Five dollars			Abraham Lincoln	Lincoln Memorial	Series 2006	Series 2021	Wide
Ten dollars			Alexander Hamilton	Treasury Building	Series 2004A	Series 2017A	Wide
Twenty dollars			Andrew Jackson	White House	Series 2004	Series 2017A	Wide
Fifty dollars			Ulysses S. Grant	United States Capitol	Series 2004	Series 2017A	Wide
One hundred dollars			Benjamin Franklin	Independence Hall	Series 2009A	Series 2017A	Wide

TheU.S. Constitutionprovides that Congress shall have the power to "borrow money on the credit of the United States."Congress has exercised that power by authorizingFederal Reserve Banksto issueFederal Reserve Notes.Those notes are "obligations of the United States" and "shall be redeemed in lawful money on demand at the Treasury Department of the United States, in the city of Washington, District of Columbia, or at any Federal Reserve bank".Federal Reserve Notes are designated by law as "legal tender"for the payment of debts.Congress has also authorized the issuance ofmore than 10 other types of banknotes,including theUnited States Noteand theFederal Reserve Bank Note.The Federal Reserve Note is the only type that remains in circulation since the 1970s.Federal Reserve Notesare printed by theBureau of Engraving and Printingand are made fromcotton fiber paper(as opposed towood fiberused to make common paper). The "large-sized notes"issued before 1928 measured 7.42 in × 3.125 in (188.5 mm × 79.4 mm), whilesmall-sized notesintroduced that year measure 6.14 in × 2.61 in × 0.0043 in (155.96 mm × 66.29 mm × 0.11 mm).The dimensions of the modern (small-size) U.S. currency is identical to the size ofPhilippine pesobanknotes issued under United States administration after 1903, which had proven highly successful.The American large-note bills became known as "horse blankets" or "saddle blankets".

Currently printed denominations are$1,$2,$5,$10,$20,$50,and$100.Notes above the $100 denomination stopped being printed in 1946 and were officially withdrawn from circulation in 1969. These notes were used primarily in inter-bank transactions or byorganized crime;it was the latter usage that prompted PresidentRichard Nixonto issue an executive order in 1969 halting their use. With the advent of electronic banking, they became less necessary. Notes in denominations of $500, $1,000, $5,000, $10,000, and $100,000 were all produced at one time; seelarge denomination bills in U.S. currencyfor details. With the exception of the $100,000 bill (which was only issued as a Series 1934 Gold Certificate and was never publicly circulated; thus it is illegal to own), these notes are now collectors' items and are worth more than their face value to collectors.

Though still predominantly green, the post-2004 series incorporate other colors to better distinguish different denominations. As a result of a 2008 decision in an accessibility lawsuit filed by theAmerican Council of the Blind,theBureau of Engraving and Printingis planning to implement a raised tactile feature in the next redesign of each note, except the $1 and the current version of the $100 bill. It also plans larger, higher-contrast numerals, more color differences, and distribution of currency readers to assist the visually impaired during the transition period.

Countries that use US dollar

Formal users

• United States
  • including 5 territories:
    • American Samoa
    • Guam
    • Northern Mariana Islands
    • Puerto Rico
    • U.S. Virgin Islands
  • United States Minor Outlying Islands
• Compact of Free Association
  • Marshall Islands
  • Micronesia
  • Palau
• East Timor,alongsideEast Timor centavo coins
• Ecuador,alongsideEcuadorian centavo coins
• El Salvador,alongsideBitcoin
• Liberia,alongsideLiberian dollar
• Panama,alongsidePanamanian balboa
• British Overseas Territoriesbelonging to theUnited Kingdom of Great Britain and Northern Ireland:
  • British Virgin Islands
  • Turks and Caicos Islands
• In theCaribbean Netherlands,part of theKingdom of the Netherlands:
  • Bonaire
  • Saba
  • Sint Eustatius

Informal users

• Argentina,official currency isArgentine peso
• Cambodia,alongsideCambodian riel
• Venezuela,alongsideVenezuelan Bolivar
• Zimbabwe,alongsideGold
• British Overseas Territoriesbelonging to theUnited Kingdom of Great Britain and Northern Ireland:
  • British Indian Ocean Territory,official currency isPound sterling
• In theCaribbean Netherlands,part of theKingdom of the Netherlands:
  • Sint Maarten,official currency isNetherlands Antillean guilder
• Saint Martin(overseas collectivity,an integral part ofFrance) - official currency is Euro
• Honduras,official currency isHonduran lempira

Monetary policy

See also:Federal Reserve,Monetary policy,Monetary policy of the United States,andmoney supply

TheHeadquarters of the Federal Reserve Systemin Washington, D.C.

TheFederal Reserve Actcreated theFederal Reserve Systemin 1913 as thecentral bankof theUnited States.Its primary task is to conduct the nation'smonetary policyto promote maximum employment, stable prices, and moderate long-term interest rates in the U.S. economy. It is also tasked to promote the stability of the financial system and regulate financial institutions, and to act aslender of last resort.

TheMonetary policy of the United Statesis conducted by theFederal Open Market Committee,which is composed of theFederal Reserve Board of Governorsand 5 out of the 12 Federal Reserve Bank presidents, and is implemented by all twelve regionalFederal Reserve Banks.

Monetary policyrefers to actions made by central banks that determine the size and growth rate of themoney supplyavailable in the economy, and which would result in desired objectives like low inflation, low unemployment, and stable financial systems. The economy's aggregatemoney supplyis the total of

• M0 money, or Monetary Base– "dollars" in currency andbank moneybalances credited to the central bank's depositors, which are backed by the central bank's assets,
• plus M1, M2, M3 money– "dollars" in the form ofbank moneybalances credited to banks' depositors, which are backed by the bank's assets and investments.

The FOMC influences the level of money available to the economy by the following means:

• Reserve requirements– specifies a required minimum percentage of deposits in acommercial bankthat should be held as a reserve (i.e. as deposits with the Federal Reserve), with the rest available to loan or invest. Higher requirements mean less money loaned or invested, helping keep inflation in check. Raising thefederal funds rateearned on those reserves also helps achieve this objective.
• Open market operations– the Federal Reserve buys or sellsUS Treasury bondsand other securities held by banks in exchange for reserves; more reserves increase a bank's capacity to loan or invest elsewhere.
• Discount window lending– banks can borrow from the Federal Reserve.

Monetary policydirectly affects interest rates; it indirectly affects stock prices, wealth, and currency exchange rates. Through these channels, monetary policy influences spending, investment, production, employment, and inflation in the United States. Effectivemonetary policycomplementsfiscal policyto support economic growth.

The adjusted monetary base has increased from approximately $400 billion in 1994, to $800 billion in 2005, and to over $3 trillion in 2013.

When the Federal Reserve makes a purchase, it credits the seller's reserve account (with the Federal Reserve). This money is not transferred from any existing funds—it is at this point that the Federal Reserve has created newhigh-powered money.Commercial banks then decide how much money to keep in deposit with the Federal Reserve and how much to hold as physical currency. In the latter case, the Federal Reserve places an order for printed money from the U.S. Treasury Department.The Treasury Department, in turn, sends these requests to the Bureau of Engraving and Printing (to print newdollar bills) and the Bureau of the Mint (to stamp the coins).

The Federal Reserve's monetary policy objectives to keep prices stable and unemployment low is often called thedual mandate.This replaces past practices under agold standardwhere the main concern is the gold equivalent of the local currency, or under a gold exchange standard where the concern is fixing the exchange rate versus another gold-convertible currency (previously practiced worldwide under theBretton Woods Agreementof 1944 via fixed exchange rates to the U.S. dollar).

International use as reserve currency

See also:Reserve currency,International monetary system,Eurodollar,Exorbitant privilege,Strong dollar policy,andDollarization

Main article:International use of the U.S. dollar

Worldwide use of the U.S. dollar:

United States

External adopters of the US dollar

Currencies pegged to the US dollar

Currencies pegged to the US dollar w/ narrow band

Worldwide use of theeuro:

Eurozone

External adopters of the euro

Currencies pegged to the euro

Currencies pegged to the euro w/ narrow band

Ascendancy

The primary currency used for global trade betweenEurope,Asia,andthe Americashas historically been the Spanish-Americansilver dollar,which created a globalsilver standardsystem from the 16th to 19th centuries, due to abundant silver supplies inSpanish America. The U.S. dollar itself was derived from this coin. TheSpanish dollarwas later displaced by the Britishpound sterlingin the advent of the internationalgold standardin the last quarter of the 19th century.

The U.S. dollar began to displace thepound sterlingas internationalreserve currencyfrom the 1920s since it emerged from theFirst World Warrelatively unscathed and since theUnited Stateswas a significant recipient of wartime gold inflows. After the U.S. emerged as an even stronger globalsuperpowerduring theSecond World War,theBretton Woods Agreementof 1944 established the post-war international monetary system, with the U.S. dollar ascending to become the world's primaryreserve currencyfor international trade, and the only post-war currency linked to gold at $35 pertroy ounce.

As international reserve currency

The U.S. dollar is joined by the world's other major currencies – theeuro,pound sterling,Japanese yenand Chineserenminbi– in the currency basket of thespecial drawing rightsof theInternational Monetary Fund.Central banks worldwide have huge reserves of U.S. dollars in their holdings and are significant buyers ofU.S. treasury bills and notes.

Foreign companies, entities, and private individuals hold U.S. dollars in foreign deposit accounts calledeurodollars(not to be confused with theeuro), which are outside the jurisdiction of theFederal Reserve System.Private individuals also hold dollars outside the banking system mostly in the form ofUS$100 bills,of which 80% of its supply is held overseas.

TheUnited States Department of the Treasuryexercises considerable oversight over theSWIFT financial transfers network,and consequently has a huge sway on the globalfinancial transactionssystems, with the ability to impose sanctions on foreign entities and individuals.

In the global markets

The U.S. dollar is predominantly the standard currency unit in which goods are quoted and traded, and with which payments are settled, in the globalcommodity markets.TheU.S. Dollar Indexis an important indicator of the dollar's strength or weakness versus a basket of six foreign currencies.

TheUnited States Governmentis capable of borrowing trillions of dollars from the global capital markets in U.S. dollars issued by theFederal Reserve,which is itself under U.S. government purview, at minimal interest rates, and with virtually zero default risk. In contrast, foreign governments and corporations incapable of raising money in their own local currencies are forced to issue debt denominated in U.S. dollars, along with its consequent higher interest rates and risks of default.The United States's ability to borrow in its own currency without facing a significant balance of payments crisis has been frequently described as itsexorbitant privilege.

A frequent topic of debate is whether thestrong dollar policyof the United States is indeed in America's own best interests, as well as in the best interest of theinternational community.

Currencies fixed to the U.S. dollar

For a more exhaustive discussion of countries using the U.S. dollar as official or customary currency, or using currencies which are pegged to the U.S. dollar, seeInternational use of the U.S. dollar#Dollarization and fixed exchange ratesandCurrency substitution#US dollar.

Countries using the U.S. dollar as their official currency include:

• In the Americas:Panama,Ecuador,El Salvador,British Virgin Islands,Turks and Caicos Islands,and theCaribbean Netherlands.
• The constituent states of the formerTrust Territory of the Pacific Islands:Palau,theFederated States of Micronesia,and theMarshall Islands.
• Others:East Timor.

Among the countries using the U.S. dollar together with other foreign currencies and their local currency areCambodiaandZimbabwe.

Currencies pegged to the U.S. dollar include:

• In the Caribbean: theBahamian dollar,Barbadian dollar,Belize dollar,Bermudian dollar,Cayman Islands dollar,Eastern Caribbean dollar,Netherlands Antillean guilderand theAruban florin.
• The currencies of five oil-producing Arab countries: theSaudi riyal,United Arab Emirates dirham,Omani rial,Qatari riyaland theBahraini dinar.
• Others: theHong Kong dollar,Macanese pataca,Jordanian dinar,Lebanese pound.

Value

Buying power of one U.S. dollar compared to 1775Spanish milled dollar

Year Equivalent buying power 1775 $1.00 1780 $0.59 1790 $0.89 1800 $0.64 1810 $0.66 1820 $0.69 1830 $0.88 1840 $0.94 1850 $1.03 1860 $0.97

Year Equivalent buying power 1870 $0.62 1880 $0.79 1890 $0.89 1900 $0.96 1910 $0.85 1920 $0.39 1930 $0.47 1940 $0.56 1950 $0.33 1960 $0.26

Year Equivalent buying power 1970 $0.20 1980 $0.10 1990 $0.06 2000 $0.05 2007 $0.04 2008 $0.04 2009 $0.04 2010 $0.035 2011 $0.034 2012 $0.03

Inflation value of dollar

The 6th paragraph ofSection 8of Article 1 of the U.S. Constitution provides that the U.S. Congress shall have the power to "coin money" and to "regulate the value" of domestic and foreign coins. Congress exercised those powers when it enacted theCoinage Act of 1792.That Act provided for the minting of thefirst U.S. dollarand it declared that the U.S. dollar shall have "the value of aSpanish milled dollaras the same is now current ".

The table above shows the equivalent amount of goods that, in a particular year, could be purchased with $1. The table shows that from 1774 through 2012 the U.S. dollar has lost about 97.0% of its buying power.

The decline in the value of the U.S. dollar corresponds toprice inflation,which is a rise in the general level of prices of goods and services in an economy over a period of time.Aconsumer price index(CPI) is a measure estimating the average price of consumer goods and services purchased by households. TheUnited States Consumer Price Index,published by theBureau of Labor Statistics,is a measure estimating the average price of consumer goods and services in the United States.It reflects inflation as experienced by consumers in their day-to-day living expenses.A graph showing the U.S. CPI relative to 1982–1984 and the annual year-over-year change in CPI is shown at right.

The value of the U.S. dollar declined significantly during wartime, especially during theAmerican Civil War,World War I, and World War II.TheFederal Reserve,which was established in 1913, was designed to furnish an "elastic" currency subject to "substantial changes of quantity over short periods", which differed significantly from previous forms ofhigh-powered moneysuch as gold, national banknotes, and silver coins.Over the very long run, the prior gold standard kept prices stable—for instance, the price level and the value of the U.S. dollar in 1914 were not very different from the price level in the 1880s. The Federal Reserve initially succeeded in maintaining the value of the U.S. dollar and price stability, reversing the inflation caused by the First World War and stabilizing the value of the dollar during the 1920s, before presiding over a 30% deflation in U.S. prices in the 1930s.

Under theBretton Woods systemestablished after World War II, the value of gold was fixed to $35 per ounce, and the value of the U.S. dollar was thus anchored to the value of gold. Rising government spending in the 1960s, however, led to doubts about the ability of the United States to maintain this convertibility, gold stocks dwindled as banks and international investors began to convert dollars to gold, and as a result, the value of the dollar began to decline. Facing an emergingcurrency crisisand the imminent danger that the United States would no longer be able to redeem dollars for gold, gold convertibility was finally terminated in 1971 byPresident Nixon,resulting in the "Nixon shock".

The value of the U.S. dollar was therefore no longer anchored to gold, and it fell upon the Federal Reserve to maintain the value of the U.S. currency. The Federal Reserve, however, continued to increase the money supply, resulting instagflationand a rapidly declining value of the U.S. dollar in the 1970s. This was largely due to the prevailing economic view at the time that inflation and real economic growth were linked (thePhillips curve), and so inflation was regarded as relatively benign.Between 1965 and 1981, the U.S. dollar lost two thirds of its value.

In 1979,President CarterappointedPaul VolckerChairman of the Federal Reserve.The Federal Reserve tightened the money supply and inflation was substantially lower in the 1980s, and hence the value of the U.S. dollar stabilized.

Over the thirty-year period from 1981 to 2009, the U.S. dollar lost over half its value.This is because the Federal Reserve has targeted not zero inflation, but a low, stable rate of inflation—between 1987 and 1997, the rate of inflation was approximately 3.5%, and between 1997 and 2007 it was approximately 2%. The so-called "Great Moderation"of economic conditions since the 1970s is credited to monetary policy targeting price stability.

There is an ongoing debate about whether central banks should target zero inflation (which would mean a constant value for the U.S. dollar over time) or low, stable inflation (which would mean a continuously but slowly declining value of the dollar over time, as is the case now). Although some economists are in favor of a zero inflation policy and therefore a constant value for the U.S. dollar,others contend that such a policy limits the ability of the central bank to controlinterest ratesand stimulate the economy when needed.

Pegged currencies

• Aruban florin(lower value)
• Bahamian dollar(at par)
• Bahraini dinar(higher value)
• Barbadian dollar(lower value)
• Belarusian ruble(alongside Euro and Russian ruble in currency basket)
• Belize dollar(lower value)
• Bermudian dollar(at par)
• Bolivian boliviano(lower value)
• Cambodian riel(lower value)
• Cayman Islands dollar(higher value)
• Costa Rican colón(lower value)
• Cuban peso(lower value)
• Eastern Caribbean dollar(lower value)
• East Timor centavo coins(at par)
• Ecuadorian centavo coins(at par)
• Salvadoran colón(lower value)
• Eritrean nakfa(lower value)
• Guatemalan quetzal(lower value)
• Haitian gourde(lower value)
• Honduran lempira(lower value)
• Hong Kong dollar(narrow band)
• Iraqi dinar(lower value)
• Jordanian dinar(higher value)
• Kuwaiti dinar(higher value)
• Lebanese pound(lower value)
• Netherlands Antillean guilder(lower value, scheduled to be abolished in 2025)
• Nicaraguan córdoba(lower value)
• Nigerian naira(lower value)
• Omani rial(higher value)
• Panamanian balboa(at par)
• Qatari riyal(lower value)
• Saudi riyal(lower value)
• Sierra Leonean leone(lower value)
• Trinidad and Tobago dollar(lower value)
• United Arab Emirates dirham(lower value)
• Yemeni rial(lower value)
• Zimbabwean bond coinsandbond notes(at par)

Exchange rates

See also:U.S. Dollar Index

EUR/USD exchange rate

Historical exchange rates

Currency units per one U.S. dollar, averaged over the year

Currency units	1970	1980	1985	1990	1993	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2018
Euro	—	—	—	—	—	0.9387	1.0832	1.1171	1.0578	0.8833	0.8040	0.8033	0.7960	0.7293	0.6791	0.7176	0.6739	0.7178	0.7777	0.7530	0.7520	0.9015	0.8504
Japanese yen	357.6	240.45	250.35	146.25	111.08	113.73	107.80	121.57	125.22	115.94	108.15	110.11	116.31	117.76	103.39	93.68	87.78	79.70	79.82	97.60	105.74	121.05	111.130
Pound sterling	8s4d =0.4167	0.4484	0.8613	0.6207	0.6660	0.6184	0.6598	0.6946	0.6656	0.6117	0.5456	0.5493	0.5425	0.4995	0.5392	0.6385	0.4548	0.6233	0.6308	0.6393	0.6066	0.6544	0.7454
Swiss franc	4.12	1.68	2.46	1.39	1.48	1.50	1.69	1.69	1.62	1.40	1.24	1.15	1.29	1.23	1.12	1.08	1.03	0.93	0.93	0.90	0.92	1.00	0.98
Canadian dollar	1.081	1.168	1.321	1.1605	1.2902	1.4858	1.4855	1.5487	1.5704	1.4008	1.3017	1.2115	1.1340	1.0734	1.0660	1.1412	1.0298	0.9887	0.9995	1.0300	1.1043	1.2789	1.2842
Mexican peso	0.01250–0.02650	2.80	2.67	2.50	3.1237	9.553	9.459	9.337	9.663	10.793	11.290	10.894	10.906	10.928	11.143	13.498	12.623	12.427	13.154	12.758	13.302	15.837	19.911
Chinese Renminbi	2.46	1.7050	2.9366	4.7832	5.7620	8.2783	8.2784	8.2770	8.2771	8.2772	8.2768	8.1936	7.9723	7.6058	6.9477	6.8307	6.7696	6.4630	6.3093	6.1478	6.1620	6.2840	6.383
Pakistani rupee	4.761	9.9	15.9284	21.707	28.107	51.9	51.9	63.5	60.5	57.75	57.8	59.7	60.4	60.83	67	80.45	85.75	88.6	90.7	105.477	100.661	104.763	139.850
Singapore dollar	—	—	2.179	1.903	1.6158	1.6951	1.7361	1.7930	1.7908	1.7429	1.6902	1.6639	1.5882	1.5065	1.4140	1.4543	1.24586	1.2565	1.2492	1.2511	1.2665	1.3748	1.343
South Korean won	310.556	607.717	870.020	707.766	802.538	1189.439	1130.362	1290.790	1251.602	1191.646	1146.249	1024.328	955.341	929.376	1100.126	1277.246	1156.460	1108.233	1126.807	1094.983	1052.840	1130.953	1100.163

Current exchange rates

Current USD exchange rates
FromGoogle Finance:	AUDCADCHFCNYEURGBPHKDJPYCADTWDKRW
FromYahoo! Finance:	AUDCADCHFCNYEURGBPHKDJPYCADTWDKRW
FromXE.com:	AUDCADCHFCNYEURGBPHKDJPYCADTWDKRW
From OANDA:	AUDCADCHFCNYEURGBPHKDJPYCADTWDKRW

See also

• Counterfeit United States currency
• Dedollarisation
• Currency substitution
• International use of the U.S. dollar
• List of the largest trading partners of the United States
• Monetary policy of the United States
• Petrodollar recycling
• Strong dollar policy
• U.S. Dollar Index
• Virtual currency

Further reading

• Prasad, Eswar S. (2014).The Dollar Trap: How the U.S. Dollar Tightened Its Grip on Global Finance.Princeton, NJ:Princeton University Press.ISBN978-0-691-16112-9.

External links

• U.S. Bureau of Engraving and PrintingArchivedMay 30, 1997, at theWayback Machine
• U.S. Currency and Coin Outstanding and in Circulation
• American Currency Exhibit at the San Francisco Federal Reserve Bank
• Relative values of the U.S. dollar, from 1774 to present
• Historical Currency Converter
• Summary of BEP Production Statistics
• The U.S. Currency Education Program

Images of U.S. currency and coins

• U.S. Currency Education Program page with images of all current banknotes
• U.S. Mint: Image Library
• Historical and current banknotes of the United States(in English and German)