The history of US currency is a complex one, but also interesting. While electronic payments are used more frequently today, coins and cash is where it all started.

• The first paper currency used in the US was issued by the Massachusetts Bay Colony to provide funding for military exploits.
• In 1861, to helpfinance the Civil War, the US issued non-interest-carrying bills called greenbacks. All money issued after this point is still valid for use today.
• The Federal Reserve was established on December 23, 1913 by the Federal Reserve Act to help protect the financial interests of the United States.
• In 1969, the Federal Reserve ended the printing of large-denomination bills—the $500, $1,000, $5,000, and $10,000.
• The largest note ever printed was the $100,000 bill, which was used in circulation in Federal Reserve banks. It never appeared in the general public.
• The US Secret Service was initially established in 1865 in an effort to stop the counterfeiting of American money.
• In 1990, bills first began printing with security threads and microprinted designs to deter counterfeiters.
• Presidents are chosen for specific bills by the Secretary of the Treasury and the Office of Engraving. No living person can lawfully appear on US currency.
• Dollar bills that get too worn from everyday handling are replaced, whereas coins can stay in circulation 25 years or longer.
• The durability of currency is actually pretty sturdy. It takes about 4,000 folds for a bill to tear.

This article was prepared by ReminderMedia.

Tracking # 1-05309863