Why are dollars called dollars 1

Money in the US - The US dollar is used to pay

The currency in the USA is the (US) dollar ($), which is available in the form of coins and banknotes. Banknotes (bills) are called “greenbacks” because of their appearance. Unfortunately, the appearance is uniform, i.e. all dollar notes are of the same size and the same greenish color, only the value is different.

Table of Contents
Banknotes | Coins | Exchange rates and currency exchange

money
Open a bank account in the USA | Credit card | Checks and bank cards

Banknotes

The risk of confusion is great because of the uniform size and the same color. There are 1, 2, 5, 10, 20, 50, and $ 100 notes. However, the $ 2 notes are very rare and are more of a collector's item. There have been new 10 dollar bills since March 2006, and new 20 and 50 dollar bills since 2003 and 2004 respectively. The new currency designs should be forgery-proof. They contain watermarks, a security thread and a changing color of the digits in the lower right corner.

The old dollar bills also remain valid and do not have to be exchanged. All forms of paper money issued in the United States since 1861 can still be redeemed at full value today. American notes will neither be withdrawn nor devalued. The authority responsible for printing notes and coins, the Bureau of Engraving and Printing, has published informational documents on the new notes in several languages.

The dollar is the means of payment worldwide, especially in countries with soft currencies. The risk of counterfeiting is correspondingly high. It is generally recommended to carry banknotes up to a maximum of $ 20. It is difficult to use dollar bills of higher denomination in the United States for payment as vendors, restaurant owners, etc. fear counterfeiting. The first banknotes existed in the USA as early as 1775, the year of the declaration of independence. However, this paper money was not very popular among the general public. It wasn't until about a hundred years later that the US Federal Reserve printed the black and green bills as legal tender. The appearance is mandatory: the front shows a famous person, the back shows symbols or buildings.

Excursus: On the 10 dollar note is the portrait of Alexander Hamilton, who was shot in a duel by Vice President Aaron Burr. Alexander Hamilton (1755-1804) was one of the heroes of the American independence movement and one of the leading designers of the new American government after independence. He was the right hand man of General Washington and determined essential parts of the economic policy of the new state. As the illegitimate son of a Jamaican planter, he was skeptical of the privileged Aaron Burr throughout his life. In the presidential election of 1800, his influence was the decisive factor that Thomas Jefferson became President and Aaron Burr "only" Vice President of the United States.

Aaron Burr (1756-1836) served as a Colonel in the Continental Army and for a short time directly with General Washington. He was suspicious of Hamilton's political ambitions, as well as his preference for married women of New York high society. The rivalry between the two men increased from year to year until finally in July 1804 Burr Hamilton challenged a duel. This took place on July 11, 1804 in Weehawken, New Jersey. Hamilton was fatally injured and died the following day. For more details on the biographies of the two men, see Wikipedia: Alexander Hamilton, Aaron Burr.

The "best known head on the dollar bills" is that of George Washington. The one-dollar note with the image of the first US president shapes the self-image of the USA as an independent, free and market-oriented nation. The founding father of the United States has been looking from the front of the bill since 1935. In the War of Independence against Great Britain, George Washington (1732 - 1797) was in command of the American troops. In 1787 he was first president of the Philadelphia Constitutional Convention, and in 1789 the Americans elected him first president. He held this office for eight years. Details on George Washington on the Wikipedia website.

The “most expensive places on the dollar bills” were given to the 18th US President Ulysses S. Grant on the 50-dollar bill and the successful American entrepreneur Benjamin Franklin (1706-1790) on the 100-dollar bill.

Coins

As coins (coins) there is: 1 cent (penny), 5 cents (nickel), 10 cents (dime), 25 cents (Quarter), 50 cents (helped dollar, 1 dollar (dollar). You can also find images of the coins on Wikipedia.

The quarters, which are used for all machines, for making calls, etc., are of great practical importance. It is advisable to always have a certain amount of these with you. The following spellings are common for amounts of money: one dollar - $ 1.00, fifty-eight cents - $ .58 or 58 ¢, one dollar fifty-eight cents - $ 1.58.

Exchange rates and currency exchange

The current exchange rates can be found on these homepages: www.xe.com and www.oanda.com.

European currencies are generally only accepted at banks by way of exchange and here, too, not every bank is able to do this (American employees are usually “semi-skilled” and do not have extensive professional training as we know them; who have experience with the now at our emerging call centers, can quickly relate to this). Anyone who has to exchange cash can do so at the exchange offices at international airports or go to internationally active banks in a large city. However, you have to reckon with sometimes high fees and a different exchange rate. If you want to make international transfers at the actual exchange rate of the foreign exchange markets, it is worth using Wise. The British startup was founded in 2011 by the creators of Skype and is now saving its customers over $ 30 million in bank fees every month.