History UsefulNotes / AmericanMoney

1st Feb '16 7:33:33 PM MasoTey
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A dollar is sometimes called a "buck," in the same way a British pound sterling is called a "quid." It got this slang name because, when the dollar was formally introduced in 1792, it was worth about as much as a deerskin, which were a kind of unofficial currency out in the wilderness. One thousand dollars is called a "grand"; the origins of this slang term are unclear.
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A dollar is sometimes called a "buck," in the same way a British pound sterling is called a "quid." It got this slang name because, when the dollar was formally introduced in 1792, it was worth about as much as a deerskin, which were a kind of unofficial currency out in the wilderness. One thousand dollars is called a "grand"; "grand" (or "large"); the origins of this slang term are unclear.
1st Feb '16 7:31:38 PM MasoTey
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* Prices in dollars and cents are written with a decimal point; e.g., $4.35 means 4 dollars and 35 cents. A zero at the end of the decimal is never dropped, so 4 dollars and 50 cents would be written not as $4.5, as though it were a proper fraction, but always as $4.50.
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* Prices in dollars and cents are written with a decimal point; e.g., $4.35 means 4 dollars and 35 cents. A zero at the end of the decimal is never dropped, so 4 dollars and 50 cents would be written not as $4.5, as though it were a proper fraction, but always as $4.50. 50. (This is occasionally ignored on bar and restaurant menus, though nowhere else.)
1st Feb '16 7:28:39 PM MasoTey
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* 1 dollar (UsefulNotes/GeorgeWashington again); The most common bank note; far more popular than one-dollar coins. Often referred to as a "single", a "one", or simply a "buck". It retains its older design (black-on-white front; small, centered portrait; no highly-visible anti-counterfeiting features) and no longer "matches" higher denomination bills.
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* 1 dollar (UsefulNotes/GeorgeWashington again); The most common bank note; far more popular than one-dollar coins. Often referred to as a "single", a "one", or simply a "buck". It retains its The one- and two-dollar bills retain their older design designs (black-on-white front; small, centered portrait; no highly-visible anti-counterfeiting features) and no longer "matches" "match" the higher denomination bills.
1st Feb '16 7:27:05 PM MasoTey
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* 1 dollar (UsefulNotes/GeorgeWashington again); The most common bank note; far more popular than one-dollar coins. Often referred to as a "single", a "one", or simply a "buck".
to:
* 1 dollar (UsefulNotes/GeorgeWashington again); The most common bank note; far more popular than one-dollar coins. Often referred to as a "single", a "one", or simply a "buck". It retains its older design (black-on-white front; small, centered portrait; no highly-visible anti-counterfeiting features) and no longer "matches" higher denomination bills.
10th Dec '15 5:37:18 PM Prfnoff
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A dollar is sometimes called a "buck," in the same way a British pound sterling is called a "quid." It got this slang name because, when the dollar was formally introduced in 1792, it was worth about as much as a deerskin, which were a kind of unofficial currency out in the wilderness.
to:
A dollar is sometimes called a "buck," in the same way a British pound sterling is called a "quid." It got this slang name because, when the dollar was formally introduced in 1792, it was worth about as much as a deerskin, which were a kind of unofficial currency out in the wilderness. One thousand dollars is called a "grand"; the origins of this slang term are unclear. ----
12th Nov '15 2:20:06 PM ed3891
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* : Cents. Appears ''after'' the number. Used instead of, not in addition to, the dollar sign, and only if an integer number of cents are specified (rather than a decimal value of dollars). Almost ''never'' used these days, as (thanks to inflation) most goods worth buying cost more than a dollar. Even as early as the 1960s, when computer character sets were becoming standardized, neither the ASCII nor the EBCDIC character set contained a cents sign (American computer keyboards replaced it with the caret, i.e, ^). [[UsefulNotes/MicrosoftWindows Windows]] allows you to access it (relatively) quickly by holding down ALT and typing "0162" on the number pad; on [[UsefulNotes/MacOS an Apple keyboard]], type Option-Shift-4.
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* : Cents. Appears ''after'' the number. Used instead of, not in addition to, the dollar sign, and only if an integer number of cents are specified (rather than a decimal value of dollars). Almost ''never'' used these days, as (thanks to inflation) most goods worth buying cost more than a dollar. Even as early as the 1960s, when computer character sets were becoming standardized, neither the ASCII nor the EBCDIC character set contained a cents sign (American computer keyboards replaced it with the caret, i.e, ^). [[UsefulNotes/MicrosoftWindows Windows]] allows you to access it (relatively) quickly by holding down ALT and typing "0162" (alternatively, ALT and "155") on the number pad; on [[UsefulNotes/MacOS an Apple keyboard]], type Option-Shift-4.
2nd Nov '15 12:05:29 PM PaddyMurphy
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Before the UsefulNotes/TheAmericanRevolution, it was common in multiple world currencies to physically slice a dollar (or equivalent) coin into eight ''bits'' worth 12.5 cents each. The highly popular Spanish Milled Dollar, as already mentioned, was worth eight Spanish Reals -- which was why pirates called them "pieces of eight". Slicing it into 8 pieces produced 8 bits worth one Real apiece. The "bit" denomination has survived today primarily in colloquialism: a ShaveAndAHaircut cost a quarter of a dollar, or "two bits", as advertised by barbershop quartets. This convention of dividing a dollar into 8 pieces also persisted in the Stock Market all the way through the 1980s; if you watch an older movie with the Stock Market in it, you'll see stock prices like "11 5/8" dollars per share.
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Before the UsefulNotes/TheAmericanRevolution, it was common in multiple world currencies to physically slice a dollar (or equivalent) coin into eight ''bits'' worth 12.5 cents each. The highly popular Spanish Milled Dollar, as already mentioned, was worth eight Spanish Reals -- which was why pirates called them "pieces of eight". Slicing it into 8 pieces produced 8 bits worth one Real apiece. The "bit" denomination has survived today primarily in colloquialism: a ShaveAndAHaircut cost a quarter of a dollar, or "two bits", as advertised by barbershop quartets. This convention of dividing a dollar into 8 pieces also persisted in the Stock Market all the way through the 1980s; if you watch an older movie with the Stock Market in it, you'll see stock prices like "11 5/8" ⅝" dollars per share.
28th Sep '15 7:00:14 PM kchishol
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It's worth noting that Canadian coins come in the same size, color, and denominations as Americans until you get to one dollar. The dollar coin, called a "Loonie" because of the loon bird picture on one of its faces. Unlike the American efforts, the Canadian government moved decisively to get it accepted, such as giving it a golden colour to make it look valuable while immediately discontinuing the $1 paper bank note; as a result, the Canadian public quickly accepted it without hesitation. They also have a $2-coin called a "toonie" that's bimetallic, with a central disc of a brass alloy encased in a silvery-colored outer ring. They're traditionally worth less and weigh less than American coins but are usually interchangeable to all but the most nitpicky cashiers and vending machines, and they draw less attention from cashiers the closer you get to the Canadian border. In some border states (e. g. Michigan) it's not unusual for up to half the change in a local's pocket to be Canadian. In addition, the Canadian government, recognizing the worthlessness of the penny nowadays, discontinued it in February 2013.[[note]]over the past few years Canadian currency has appreciated considerably relative to US currency, with the result that at certain points in the recent past (e.g. in November 2012) the Canadollar is actually worth slightly MORE than a US greenback (about 1 mill more, in fact; 1 USD = 0.999 CAN); since then, the exchange rate has stabilized such that the US dollar is usually worth slightly more than the Canadian, or the Canadian slightly more than the American, depending on the day of the week and the whims of the market. In practice, there's ceased to be any difference, and there are certain touristy places in Canada that take US money at par with Canadian. The U.S. dollar is still worth more than the New Zealand dollar, though.[[/note]]
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It's worth noting that Canadian coins come in the same size, color, and denominations as Americans until you get to one dollar. The dollar coin, called a "Loonie" because of the loon bird picture on one of its faces. Unlike the American efforts, the Canadian government moved decisively to get it accepted, such as giving it a golden colour to make it look valuable while immediately discontinuing the $1 paper bank note; as a result, the Canadian public quickly accepted started using it without hesitation. They also have a $2-coin called a "toonie" that's bimetallic, with a central disc of a brass alloy encased in a silvery-colored outer ring. They're traditionally worth less and weigh less than American coins but are usually interchangeable to all but the most nitpicky cashiers and vending machines, and they draw less attention from cashiers the closer you get to the Canadian border. In some border states (e. g. Michigan) it's not unusual for up to half the change in a local's pocket to be Canadian. In addition, the Canadian government, recognizing the worthlessness of the penny nowadays, discontinued it in February 2013.[[note]]over the past few years Canadian currency has appreciated considerably relative to US currency, with the result that at certain points in the recent past (e.g. in November 2012) the Canadollar is actually worth slightly MORE than a US greenback (about 1 mill more, in fact; 1 USD = 0.999 CAN); since then, the exchange rate has stabilized such that the US dollar is usually worth slightly more than the Canadian, or the Canadian slightly more than the American, depending on the day of the week and the whims of the market. In practice, there's ceased to be any difference, and there are certain touristy places in Canada that take US money at par with Canadian. The U.S. dollar is still worth more than the New Zealand dollar, though.[[/note]]
28th Sep '15 6:43:52 PM Prfnoff
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There were also 3, 5, 10, 15, 25, 50, $500, $1,000, $5,000, and $10,000 bills in circulation at one time, but they are no longer used and essentially never seen outside of collections. A famous (though sadly no longer existing) collection was a set of $10,000 bills on display at a Las Vegas casino to visually depict exactly what one million dollars looked like. $100,000 bills were used to settle accounts between banks, but were never released outside the banking system.
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There were also 3, 5, 10, 15, 25, 50, $500, $1,000, $5,000, and $10,000 bills in circulation at one time, but they are no longer used and essentially never seen outside of collections. A famous (though sadly no longer existing) collection was a set of $10,000 bills on display at a Las Vegas casino to visually depict exactly what one million dollars looked like. (The $10,000 bill pictured another non-President, Salmon P. Chase, who was Secretary of the Treasury under Lincoln at the time the first "greenbacks" were printed.) $100,000 bills were used to settle accounts between banks, but were never released outside the banking system.
28th Sep '15 4:10:26 PM Prfnoff
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Most U.S. coins show the year of issue somewhere on the face. The exceptions include newer quarters, which have it on the back, and the 1976 Bicentennial quarters, half-dollars and dollar coins, which replaced the heads-side year-mark with a dual-year "1776-1976" numbering. (The special Bicentennial coins were actually minted during the years 197'''5''' ''and'' 1976, which is the reason why catalogs that offer "one coin of each denomination from a year of your choice" often state they can't offer a set from 1975.)
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Most U.S. coins show the year of issue somewhere on the face. The exceptions include newer quarters, which have it on the back, and the 1976 Bicentennial quarters, half-dollars and dollar coins, which replaced the heads-side year-mark with a dual-year "1776-1976" numbering. (The numbering, and also featured special tails-side designs. (These Bicentennial coins were actually minted during the years 197'''5''' ''and'' 1976, which is the reason why catalogs that offer "one coin of each denomination from a year of your choice" often state they can't offer a set from 1975.)

'''50-cent pieces:''' Officially called the half dollar. At some points in American history, this coin was actually more popular than the quarter. Like the dime and quarter, it was made of 90% silver until 1965, but unlike the dime and quarter it switched to a "copper-silver clad" configuration in 1965, resulting in people hoarding them in anticipation of rising silver prices. The composition switched to the same copper-nickel clad configuration as the dime and quarter in 1971, but by then it was too late. The coin fell almost completely out of favor, and to this day no vending machines (other than post office vending machines) accept the half dollar coin any more. It's had UsefulNotes/JohnFKennedy's profile on the front since 1964, the year after his assassination. Before then, it had featured a profile of Creator/BenjaminFranklin, whose likeness still graces the $100 bill to this day. The half-dollar coin features an eagle on the tails-side, or Independence Hall on the Bicentennial issue. '''Dollar coins:''' Officially called the dollar. Prior to 1979, it was a ''huuuuge'' honkin' coin, with twice the weight of a 50-cent piece; this was due to its legacy of being made out of 90% silver, just like the dime, quarter, and half dollar were. To this day, these old large-sized dollar coins are still called "silver dollars", even though they were last made of silver in 1935 with the final issue of the "Peace Dollar" design. In 1971, a new dollar coin was released with the heads-side profile of UsefulNotes/DwightEisenhower and a tails-side design based on the [[SpaceRace Apollo 11 mission patch]]. Like the above-mentioned quarter and half-dollar coins, the Eisenhower dollar coin was composed of a copper/nickel "sandwich." The Bicentennial commemorative design featured a likeness of the Liberty Bell superimposed on an image of the moon. Starting in 1979, a new, smaller dollar coin appeared sporting Susan B. Anthony's profile on the front. These were not only about the same size as a quarter, they also had the same copper-nickel clad construction and reeded edge as a quarter, making them easy to confuse in loose change. In 2000, the mint attempted to remedy this by introducing the "gold" (really manganese brass) dollar coin with [[http://en.wikipedia.org/wiki/Sacagawea Sacagawea]][[note]]Her name is pronounced with a hard G-sound, like the G in "get", not like the G in "gem"[[/note]] pictured on the front. By this time, though, most Americans had gotten out of the habit of carrying change pouches around, and eminently preferred the paper dollar, so even this new easy-to-distinguish dollar coin never caught on. From 2007-2011, an attempt was made to revive interest in this coin by putting all of the U.S. presidents on them in chronological order so as to release a series with the intent being to use coin-collecting as a hobby to garner public support for the $1 coin, but this worked ''too'' well when people showed more interest in collecting the series than in using it [[GoneHorriblyRight as money]] and the program stopped at UsefulNotes/JamesGarfield. (Instead of issuing to general circulation, starting with UsefulNotes/ChesterAArthur, the remainder of the coins in the series are to be minted for collectable purposes only.) The presidential $1 coin series are the first ever American coinage to feature lettering/numbering engraved on the coin's edge that is neither on the heads-side nor the tails-side of the coin.
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'''50-cent pieces:''' Officially called the half dollar. At some points in American history, this coin was actually more popular than the quarter. Like the dime and quarter, it was made of 90% silver until 1965, but unlike the dime and quarter it switched to a "copper-silver clad" configuration in 1965, resulting in people hoarding them in anticipation of rising silver prices. The composition switched in 1971 to the same copper-nickel clad configuration as the dime and quarter in 1971, (and the new Eisenhower dollar coin), but by then it was too late. The coin fell almost completely out of favor, and to this day no vending machines (other than post office vending machines) accept the half dollar coin any more. It's had UsefulNotes/JohnFKennedy's profile on the front since 1964, the year after his assassination. Before then, it had featured a profile of Creator/BenjaminFranklin, whose likeness still graces the $100 bill to this day. The half-dollar coin features an eagle on the tails-side, or Independence Hall on the Bicentennial issue. '''Dollar coins:''' Officially called the dollar. Prior to 1979, it was a ''huuuuge'' honkin' coin, with twice the weight of a 50-cent piece; this was due to its legacy of being made out of 90% silver, just like the dime, quarter, and half dollar were. To this day, these old large-sized dollar coins are still called "silver dollars", even though they were last made of silver in 1935 with the final issue of the "Peace Dollar" design. In 1971, a new copper/nickel dollar coin was released with the heads-side profile of UsefulNotes/DwightEisenhower and a tails-side design based on the [[SpaceRace Apollo 11 mission patch]]. Like patch]] (a reference to the above-mentioned quarter and half-dollar coins, fact that the Eisenhower dollar coin lunar module of that mission was composed of a copper/nickel "sandwich." christened "Eagle"). The Bicentennial commemorative design featured a likeness of the Liberty Bell superimposed on an image of the moon. Starting in 1979, a new, smaller dollar coin appeared sporting Susan B. Anthony's profile on the front. These were not only about the same size as a quarter, they also had the same copper-nickel clad construction and reeded edge as a quarter, making them easy to confuse in loose change. In 2000, the mint attempted to remedy this by introducing the "gold" (really manganese brass) dollar coin with [[http://en.wikipedia.org/wiki/Sacagawea Sacagawea]][[note]]Her name is pronounced with a hard G-sound, like the G in "get", not like the G in "gem"[[/note]] pictured on the front. By this time, though, most Americans had gotten out of the habit of carrying change pouches around, and eminently preferred the paper dollar, so even this new easy-to-distinguish dollar coin never caught on. From 2007-2011, an attempt was made to revive interest in this coin by putting all of the U.S. presidents on them in chronological order so as to release a series with the intent being to use coin-collecting as a hobby to garner public support for the $1 coin, but this worked ''too'' well when people showed more interest in collecting the series than in using it [[GoneHorriblyRight as money]] and the program stopped at UsefulNotes/JamesGarfield. (Instead of issuing to general circulation, starting with UsefulNotes/ChesterAArthur, the remainder of the coins in the series are to be minted for collectable purposes only.) The presidential $1 coin series are the first ever American coinage to feature lettering/numbering engraved on the coin's edge that is neither on the heads-side nor the tails-side of the coin.
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