US currency

Overview

The US dollar is the official currency of the US. It’s not only the most circulated currency in the world but it's also considered one of the most stable.

Also referred to as the Federal Reserve note and abbreviated as USD, it can be issued as paper money or coins. There were almost 55 billion banknotes (another term for bills, often called “notes”) totaling about $2.3T in circulation by the end of 2023.

The US used to print higher denominations than the seven types of bills in print today—$1, $2, $5, $10, $20, $50, and $100—but the BEP stopped printing bills over $100 in 1969 (like the $5K and $10K bills) due to lack of use. Paper money is made up of 75% cotton and 25% linen.

There are four coin denominations currently in circulation. Pennies are mainly composed of copper and plated zinc. Nickels, dimes, and quarters are all partly made of nickel.

1440 Findings

Hours of research by our editors, distilled into minutes of clarity.

Many years ago, the US dollar became the world's primary reserve currency
In 1944, 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.
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The US dollar is the official currency of the United States and is the most circulated currency around the world
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.
Found via Investopedia Open in new tab

The lifespan of a dollar bill
Durable, made of a cotton blend, and with billions in circulation, the common dollar bill is made to last. This video from 1440 goes inside the life of the country's paper currency, from printing to purchasing, in this quick 60-second overview.
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Some coin denominations have ridges on their sides in part to prevent counterfeiting
You may have noticed that dimes and quarters feature small ridges on their sides that other coins, like pennies and nickels, don't have. This video can help you learn more about why the practice, called "reeding," was first started—and why it's still used today.
Found via Insider Tech Open in new tab
In 1792, Congress established the first national mint to produce all the coins in the US
At the same time, the US also started producing the dollar, its first official currency. The US Mint has since issued coins throughout the country.
Found via Official Site of the United States Mint Open in new tab
The Federal Reserve tracks how much US currency is circulated around the world every year
It's estimated that about half of US currency is circulated outside of the US. In 2023, there were 54.6B US notes circulated, with 18.9B of those being $100 bills. This chart shows how many US notes have circulated since 1997.
Found via U.S. Currency Education Program Open in new tab
During the Civil War, the US government printed paper money for the first time
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 & Printing.
Found via Bureau of Engraving and Printing Open in new tab
The US has used a wide variety of different currencies between the 1690s and today
From colonial money to national banknotes, people have used all kinds of forms of currency throughout the history of the United States before settling on the dollar bills and quarters that we pay for things with today.
Found via U.S. Currency Education Program Open in new tab

There have been many versions of US banknotes throughout history
From the Civil War to the 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.
Found via Bureau of Engraving and Printing Open in new tab
The 'Where's George?' project tracked a trail of $1 bills across the US
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.”
Found via NPR Open in new tab

Explore Business & Finance

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.

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