Also referred to as the Federal Reserve note and abbreviated as USD, the US dollar is the official currency of the US. It’s not only the most circulated currency in the world but also considered one of the most stable.
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That year, 44 nations gathered in Bretton Woods, New Hampshire, to rebuild the global economy. The result? The US dollar became the world’s reserve currency, backed by gold.
The eye in the triangle floating above the pyramid, for instance, is “the Eye of Providence watching over and ensuring the endurance of the structure of the American government.” This article details every design choice’s significance on the dollar—and a few conspiracies around these choices as well.
The US dollar was established in 1792 and comes in the form of coins or paper money. It's considered one of (if not the most) stable currencies in the world due to America’s strong and robust economy, as well as its relatively stable government.
Over a decade ago, a group dedicated its time to tracking $1 bills in the US. They would stamp single bills with the phrases “currency tracking project” and “Track me at WheresGeorge.com” in a practice they dubbed “Georging.”
However, it is far less common than other bills. $2 bill usage has been in decline for decades, but the US Treasury hasn’t retired it yet. A podcast episode from the Fed’s educational program explains why the Treasury doesn’t print new $2 bills every year, and why they're still considered legal tender.
Those original paper bills were called “greenbacks” or “demand notes.” Since then, paper money has evolved with different designs, names, and values. Today it is solely issued by the Bureau of Engraving and Printing.
Specifically, nearly 90% of international trade in 2019 was processed in US dollars. It’s not only the most circulated currency in the world but also considered one of the most stable.
The symbol is associated with the Freemasons, one of the world’s oldest secret societies. It also appears on churches, Masonic buildings and the Great Seal of the United States.
From the Civil War to present day, the US has gone through many, many versions of paper money (or “notes”). Some notes, like “Demand Notes,” were created to finance the Civil War. Others, like “Treasury Notes,” helped pay for silver.
The value of a dollar hasn’t been consistent throughout history. An inflation calculator lets you compare the value of dollars from any two years over the past four centuries.
The United States is home to more than 33 million businesses, the vast majority of which are small businesses, with millions being created (and others closing shop) every year. These businesses often rely on loans, provide the goods and services that keep the economy flowing, and sometimes even grow large enough to enter public markets or provide private investment opportunities. Explore key topics central to business and finance, from the role of the Federal Reserve to how initial public offerings work, how millions of American students finance higher education, and more.