The official currency of the USA is US dollars. There are seven different denominations of banknotes and six different denominations of coins in circulation. US presidents and other well-known personalities are depicted on the currency. The official abbreviation of the US dollar is USD, but the dollar symbol is commonly used as $.
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Basic Facts About Dollars
💲 Validity of US Dollars
All dollar bills and coins are still valid by law regardless of the year of issue. In practice, you may find that stores may refuse to accept older bills that have a lower level of security features.
🔄 How Much Is 1 Dollar in EUR?
1 dollar is approximately $1.00. For a quick conversion to any currency you can use Google, just search for example “500 USD to EUR”.
Dollar Banknotes
Dollar banknotes are in circulation in denominations of 1, 2, 5, 10, 20, 50 and 100 dollars. U.S. banknotes are printed by the Bureau of Engraving and Printing, with offices in Washington, D.C. C. and Fort Worth, Texas.
The paper for the printing has been supplied since 1879 by Crane and Co. of Massachusetts, and on close examination you will notice tiny red and blue filaments of various lengths. The artificial fibres are evenly placed in the paper.
The notes are easily interchangeable as they are very similar in colour and have the same size of 156 × 66.3 mm. The paper of all dollar notes is 75% cotton and 25% linen.
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100 Dollar Bill
The first $100 bill was printed in 1861. The obverse bears a portrait of Benjamin Franklin, hence the nickname Bens, Benjamins, Franklins or C-Note after the Roman numeral 100.
Along with the ten-dollar bill, it is the only note without a portrait of the President. The reverse of the $100 bill features Independence Hall in Philadelphia.
According to 2022 statistics, 34% of the notes in circulation are the hundred-dollar bill. Interestingly, the average lifespan of a $100 bill is 23 years. The cost of printing a hundred-dollar bill is $0.09.
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50 Dollar Bill
The obverse of the $50 bill features the 18th President of the United States, Ulysses S. Grant, with the United States Capitol on the reverse. The note is nicknamed the Grant, and was put into circulation in 1861.
The average lifespan of a $50 bill is 12 years; in 2022, the $50 bill accounted for about 5% of all notes in circulation. Printing a banknote costs $0.05.
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20 Dollar Bill
The face of the $20 bill depicts the 7th U.S. President Andrew Jackson, with a portrait of Harriet Truman added in 2020. The reverse of the $20 bill depicts the White House.
The first note was introduced in 1861, and today it lasts an average of 7.8 years in circulation. Of all the notes in circulation, the $20 bill accounts for about 21%. The U.S. government pays $0.05 to produce one note.
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10 Dollar Bill
The face of the $10 bill bears the portrait of the first US Secretary of the Treasury, Alexander Hamilton. With the $100 bill, these are the only two notes that do not feature the US President. It is also the only note with a portrait looking to the left. The reverse of the note features the Treasury Department building in Washington, DC.
According to statistics, $10 bills make up 4% of all banknotes in circulation, and on average last 5.3 years. First issued in 1861, one note costs $0.05 to produce.
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5 Dollar Bill
The US $5 bill features a portrait of Abraham Lincoln on the obverse, with the reverse side dominated by a memorial to the President.
First issued in 1861, the note was formerly known as the “fin” note, which was the Jewish name for the numeral five. The average life of a five-dollar bill is 4.7 years, after which it is replaced by a new piece. About 6% of all banknotes are five-dollar notes. It costs $0.05 to produce one.
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2 Dollar Bill
The $2 bill is the rarest U.S. banknote, accounting for only 3% of the pieces issued. Merchant demand for notes of this denomination is low and people are losing recognition of it. Occasionally, they even mistake a legal $2 bill for a counterfeit.
The obverse of the note features a portrait of President Thomas Jefferson, while the reverse features a modified image of The Declaration of Independence by John Trumbull. The cost of producing one note is $0.03.
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1 Dollar Bill
The one-dollar bill is the most commonly encountered, holding a share of 26% of all banknotes in 2022. It features a portrait of President George Washington on the obverse and the US national emblem with a bald eagle on the reverse.
The current-sized one-dollar bill has been in production since 1929, and has carried the legally required motto “In God we Trust” since 1957. Nicknamed the one, single, buck, bone or bill, the note lasts only 6.6 years in circulation.
The cost of producing a dollar bill as of 2023 is $0.03.
Dollar Coins
Dollar coins are in circulation in denominations of 1 dollar, 50 cents, 25 cents, 10 cents, 5 cents and 1 cent. They are minted by the United States Mint with offices in Philadelphia, Denver, San Francisco and West Point, New York. It has a giant vault in Fort Knox, Kentucky.
The first US coins were minted in 1793. Dozens of variations of the coins are in circulation today, differing mainly in the thematic design of the reverse side.
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1 Dollar Coin
The one dollar coin is minted in both gold and silver, with a copper-brass alloy used instead of real gold. The dollar coin was first minted in 1794, its diameter is 26.5 mm, thickness 2 mm.
The coin’s motif varies; the 2000 edition depicted the Sacagawea Indian of the Shoshone tribe, who was the only woman to participate in the discovery of the American West in the early 19th century. Between 2007 and 2016, the faces of U.S. presidents alternated on the front.
Between 2009 and 2016, the reverse side bears motifs commemorating Native American contributions to U.S. history. The 2007 coins feature the Statue of Liberty.
On the dollar coin, you may notice a letter indicating the mint that struck the coin. The P stands for Philadelphia (dollar coins have been minted here since 1793), the S stands for San Francisco (since 1854), and the W stands for West Point (since 1984).
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50 Cent Coin – Half Dollar, Fifty Cent
The silver 50 cent has a diameter of 30.61 mm, a thickness of 2.15 mm and is decorated with 150 indentations on the edge. The coin is made of a copper-nickel alloy and weighs 11.34 grams.
There is little interest in the 50 cent coin among people, so the one with the 1964 designs is still in circulation. The obverse features a portrait of President John F. Kennedy, while the reverse bears the presidential seal.
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25 Cent Coin – Quarter
The 25-cent coin is silver in color, 24.26 mm in diameter and 1.75 mm thick. The quarter weighs 5.67 g and has 119 indentations around the edge. The coin has been minted intermittently since 1796 and continuously since 1831.
The obverse of the coin bears the portrait of George Washington, with five designs alternating on the reverse each year. Between 1999 and 2009 they represented individual US states, between 2010 and 2021 they depicted US national parks. The original motif subsequently returned in 2021.
The unusual denomination of the quarter has its origins in Spanish dollars, which were divided into eighths in the mid-19th century. The Americans adopted this practice.
The production cost of a quarter in 2020 was $0.08.
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10 Cent Coin – Dime
The silver dime has been in circulation since 1796, and is made of an alloy of copper and nickel. The edge of the dime is covered with 118 indentations. The diameter of the coin is 17.91 mm, thickness 1.35 mm and weight 2.268 g.
The nickname dime comes from the French word dîme (dime, tenth). The production cost of one coin is $0.00.
The current design of the dime has been unchanged since 1946. The obverse bears a portrait of President Franklin D. Roosevelt and the inscription Liberty, while the reverse features, from left to right, an olive branch, a torch, and an oak branch.
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5 Cent Coin – Nickel, Five Cents
The silver nickel weighs an even 5 grams, the diameter of the coin is 21.21 mm, the thickness is 1.95 mm and the composition is an alloy of 25% nickel and 75% copper. The cost of minting one coin is $0.07, which is more than its face value.
The obverse of the nickel features a portrait of Thomas Jefferson, while the reverse features the Monticello monument near Charlottesville, Virginia. The plantation was built in 1772 by the third President of the United States.
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1 Cent Coin – Penny
The lowest denomination US coin is copper in colour, although 97.5% of the coin is zinc. The dimensions of the penny are 19.05 mm in diameter and 1.52 mm in height. Weighing 2.5 g, the penny has been minted continuously since 1793. The symbol for the cent is ¢.
The cost of minting a single coin in 2020 was $0.02, and penny production ends at an annual loss of $58,000,000.
The obverse of the one-cent coin bears a portrait of Abraham Lincoln, while the reverse, redesigned in 2010, features the Union shield with the inscription E pluribus unum. Until 1956, this was the unofficial motto of the United States, translating as “One of many”.
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