The dollar is used as an exchange and accepted in multiple countries. Read on to know more about the history of this extremely important currency.
While the creator of National Dollar Day remains unknown, this observance marks the day the U.S. monetary system was established in 1786. It was on that day that they set the value of various coins, how they would be made, e.t.c. They even set the value of gold at $10 apiece and silver at $1 apiece.
Paper money dollars are currently known as Federal Reserve Notes and their designs were based on the Spanish dollar. In fact, the single dollar bill has not been redesigned in more than 50 years to prevent counterfeiting. The first paper dollar that was printed in 1862, had Abraham Lincoln’s Secretary of the Treasury, Salmon P. Chase, printed on it. Later in 1869, George Washington first appeared on the $1 bill. Interestingly, Crane & Company has supplied paper for U.S. currency for hundreds of years.
The dollar is quite interesting and is decorated with signs and symbols. One can find a tiny bird above the right number one on the face side of the dollar. Furthermore, the pyramid on the back of the bill is part of the Great Seal of the United States. The unfinished top portrays a country that is growing and expanding. Opposite the pyramid, there is an eagle which represents war and peace. Additionally, one can even observe a constellation with 13 stars and a shield with 13 stripes above the eagle’s head.
In current times, the United States dollar is used in a plethora of international transactions and is also the world’s primary reserve currency.
According to nationaltoday.com. Source of photo: internet
