History UsefulNotes / AmericanMoney

6th Jun '17 7:15:46 PM tracer
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'''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 [[UsefulNotes/TheSpaceRace Apollo 11 mission patch]] (a reference to the fact that the lunar module of that mission was 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.

to:

'''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 [[UsefulNotes/TheSpaceRace Apollo 11 mission patch]] (a reference to the fact that the lunar module of that mission was 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.
coin.[[note]]In 2007, the motto "In God We Trust" appeared among the text on the edge of the coin, instead of on the coin's face. Religious groups interpreted this as a demotion of God and demanded it be moved back.[[/note]]
5th May '17 2:08:59 PM TristanJeremiah
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-->-- sign on President Harry Truman's desk [[note]]Not actually a reference to money, but to "passing the buck", meaning deferring responsibility.[[/note]]

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-->-- sign on President Harry Truman's UsefulNotes/{{Harry Truman}}'s desk [[note]]Not actually a reference to money, but to "passing the buck", meaning deferring responsibility.[[/note]]
16th Apr '17 12:59:08 PM nombretomado
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'''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]] (a reference to the fact that the lunar module of that mission was 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.

to:

'''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 [[UsefulNotes/TheSpaceRace Apollo 11 mission patch]] (a reference to the fact that the lunar module of that mission was 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.
16th Oct '16 1:42:34 AM Morgenthaler
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'''Quarters:''' Officially called the quarter dollar, worth 25 cents. Until 1965, quarters were composed of 90% silver, but today they're "copper-nickel clad", meaning they have an inner layer of copper "clad" in two outer layers of the same alloy that the nickel coin (above) is made of. It's had UsefulNotes/GeorgeWashington's profile on the front since 1938, which replaced the "Standing Liberty" design. Until 1999, these coins featured an eagle on the tails-side except for the Bicentennial coins which instead featured a likeness of a Colonial drummer, along with a flaming torch surrounded by 13 five-pointed stars representing the original thirteen colonies. Starting in 1999, a series of multiple tails-side designs commemorating each of the fifty states were issued, followed subsequently by a 51st design for WashingtonDC and a quintet of designs following that to provide one for each of the five United States territories populous enough to merit non-voting Congressional representatives: Puerto Rico, Guam, American Samoa, the United States Virgin Islands, and the Commonwealth of the Northern Mariana Islands. Once those series were completed, a (still ongoing) series of designs commemorating the United States' National Parks was introduced. These coin series were introduced in hopes of promoting public interest in coin collecting, and have proven wildly successful in that regard.

to:

'''Quarters:''' Officially called the quarter dollar, worth 25 cents. Until 1965, quarters were composed of 90% silver, but today they're "copper-nickel clad", meaning they have an inner layer of copper "clad" in two outer layers of the same alloy that the nickel coin (above) is made of. It's had UsefulNotes/GeorgeWashington's profile on the front since 1938, which replaced the "Standing Liberty" design. Until 1999, these coins featured an eagle on the tails-side except for the Bicentennial coins which instead featured a likeness of a Colonial drummer, along with a flaming torch surrounded by 13 five-pointed stars representing the original thirteen colonies. Starting in 1999, a series of multiple tails-side designs commemorating each of the fifty states were issued, followed subsequently by a 51st design for WashingtonDC UsefulNotes/WashingtonDC and a quintet of designs following that to provide one for each of the five United States territories populous enough to merit non-voting Congressional representatives: Puerto Rico, Guam, American Samoa, the United States Virgin Islands, and the Commonwealth of the Northern Mariana Islands. Once those series were completed, a (still ongoing) series of designs commemorating the United States' National Parks was introduced. These coin series were introduced in hopes of promoting public interest in coin collecting, and have proven wildly successful in that regard.
20th Apr '16 4:17:17 PM Eagal
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* 20 dollars (UsefulNotes/AndrewJackson). Currently the only denomination dispensed by the vast majority of cash machines. This leads to it getting the nickname of "Yuppie food stamps" since splitting a bill at a restaurant invariably leads to the diners paying with a pile of 20s. Current bills have a faint green edge becoming orange-yellow in the center. Other nicknames are "double sawbuck", "dub", and "Jackson". Ironically, President Jackson was a firm believer in hard currency and tried to outlaw paper money.

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* 20 dollars (UsefulNotes/AndrewJackson). Currently the only denomination dispensed by the vast majority of cash machines. This leads to it getting the nickname of "Yuppie food stamps" since splitting a bill at a restaurant invariably leads to the diners paying with a pile of 20s. Current bills have a faint green edge becoming orange-yellow in the center. Other nicknames are "double sawbuck", "dub", and "Jackson". Ironically, President Jackson was a firm believer in hard currency and tried to outlaw paper money. On April 20, 2016 U.S. Treasury Secretary Jack Lew officially announced that Jackson would be replaced by Harriet Tubman on the front of the $20 bill, with Jackson appearing on the reverse.
26th Mar '16 10:05:33 PM KYCubbie
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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 ⅝" 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; until ''2001''; if you watch an older movie with the Stock Market in it, you'll see stock prices like "11 ⅝" dollars per share.
26th Mar '16 10:00:04 PM KYCubbie
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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 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]]

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Another distinction of the dollar coin is that both current versions (Native American and Presidential) are the only current U.S. coins in which the value is indicated in numerals.

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 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 [[note]]In the past few years early 2010s 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 was actually worth slightly MORE than a US greenback (about 1 mill more, in fact; 1 USD = 0.999 CAN); since then, CAN). After that, for a couple of years, the exchange rate has stabilized such that the US dollar is was 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 there ceased to be any difference, and there are were certain touristy places in Canada that would take US money at par with Canadian. The U.S. dollar is was still worth more than the New Zealand dollar, though.though. The 2014 collapse in oil prices, however, changed the game considerably for US–Canada exchange rates, due to the commodities sector, especially energy, being a much larger part of the economy in Canada than the States. As of March 2016, the loonie is worth about 75 U.S. cents.[[/note]]
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.
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