US $ Dollar
One Dollar is divided into 100 cents. ISO 4217 currency code is USD and numeric code is 840 British overseas territories uses it as de facto currency. US dollar is most foreign exchanged currency I the Monetary World. Its also one of the most reserved currencies. Official Users of this currency are countries of United States of America, Ecuador and also Salvador. There are certain countries of the world who due to power and strength of US dollar use it as unofficially and lot of illegal exchanges are common there. Some countries are Afghanistan , Aruba, Lebanon, Marshall Islands, Panama, Zimbabwe and Palau and also Ecuador and 15 US territories using this currency to rapidly move towards economic growth major being Puerto rico, Marina islands, Virgin Islands Guam.
In louisana French population calls dollars pisatre, In panama buck is pallo, In Ecuador local name is lata, In peru its nick name is coco, For Puerto Ricans dollars is always pesos.
Mexicans refer to dollars en Americano which means in America pesos.
Us dollar being one of the most powerful currencies in the world is pegged by 23 countries including all kind of dinar dollars , pesos, francs and riyals. Also rufka , naf ia and Bolivar. Cent is subunit of dollar. For accounting and major financial transactions another unit called mill is popular that 1 USD =1000mill
I USD=100 Cent
Interestingly USD is almost an entity in its own having nicknames like people so you have buck, dough, paper smacker and greenback amongst many other names given to USD. American Presidents who grace the notes also become names of this notes like Jefferson, Lincon, Benjamin, Grant and Hamilton’s.
The famous Dollar signs could have originated from early Spanish dollar currency which had Pillars of Hercules and Spanish Coat of arms. This design depicted two vertical bars on silver coin on this bars hung a coiled band giving it famous and very popular $ shape. Another myth is that letter p and s came together to form this unique sign. The famous Author and philosopher Ayn Rynd in her signature book atlas shrugged has hinted that this peculiar sign could have represented Letter U and S over each other as Stands For United States.
The first dollar coins minted in 1972 had a very similar structure in terms of size shape and material to Spanish dollar. Spanish dollar and Mexican pesos were legally accepted till about 1857 along with US dollars. Us act of coinage in 1972 created and minted first US dollar. The early currency did not have any picture of Presidents rather had pictures of roman and Greek mythology heroes and American native Indians on them. Mint act was passed in 1792 and dollar was pegged to gold and silver. 1 dollar =324.75 grains of silver or I dollar =24.75 grains of gold. Grains was the unit to measure gold and silver.
In civil war paper money was issued as there was dearth of coins but later on both continued as American currency. $100.000 gold certificate series 1934, is having sole honor of largest ever bank note printed in history. They were issued by treasurer of United states of America to Federal banks only against pure gold bullions. This were not available to general public.
United States has distinction of producing collectors coins which has large Flowing hair dollar was the first dollar minted in United States. Value and worth amongst coin collectors of world. this was an alloy of silver and copper.
Flowing hair dollar
Most US coins have a mint mark on front of the coin as design earlier is used to be at reverse side of coin. A distinctive features of this coins are they are minted from different mints all over USA and bear the marks for e.g. Philadelphia Denver has d, san Francisco has s, mint has P mark on it. .WestPoint has W, it only mint high value coins and CC mark for Carson mint, o is trademark of New Orleans mint. In war times letter D was also used for Dahlonega mint and c for charlotte mint.
The largest banknotes printed are 100 $ 100$platinum eagle note. Colors distinguish each note from another
$1-white and Grey in color $2-white and Grey in color $5-grey and little purple
$10-lemon yellow $20-light green $50-Deep blue and purple $100- sky blue
Federal Reserve System Of United states of America is the governing body is issuing and circulating USD.Coins which are frequently circulated and used are 1, 5,10.25, cents coins although 50 cents and dollar 1 are rarely used. Notes are 1,5,10,20,50,100and $2 note is not that much used.
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