HFM information and reviews
HFM
96%
FXCC information and reviews
FXCC
92%
FxPro information and reviews
FxPro
89%
FBS information and reviews
FBS
88%
Vantage information and reviews
Vantage
85%
MultiBank Group information and reviews
MultiBank Group
84%

Unknown facts about the US dollar


The US dollar is the most popular currency in the world. About 90% of all financial operations are conducted with the US dollar on exchanges, and the rate of this particular currency has been and remains the most stable. Therefore, interest in the dollar does not decrease either among traders, investors, ordinary people who store their funds in this currency, or even not much interested people - it is important for everyone to know what is the reason for the popularity of the dollar and whether it has any secret side? Surely there is. We’ll tell at least a few little-known facts about the American dollar.

Everybody knows what a dollar bill looks like. Still, we are talking about the most popular currency in the world. But stories related to the US dollar are not known to everyone. We present to your attention several facts regarding the most popular currency on the planet.

The origin of the dollar


The prototypes of those dollars that we used to see and use today are bills of exchange, debentures, that were in circulation in the USA in the 1860s. Their reverse side was printed in green ink at that time, for which the bills were nicknamed "greenbacks". And even today, “buck” is persistently used among not only local residents of the United States, but also the population of the whole world. But few people know that until 1929, green was not used at all for printing banknotes. And only after the official dollar standard was adopted in 1929, green dyes began to be used again to print banknotes.

By the way, despite the fact that the green color really inspires confidence among people using this currency, the color was chosen not only for this reason. That is simple, green dyes were the cheapest at that time.

But modern banknotes of the American dollar again acquired new shades in the form of slightly pink and yellow.

Structure, weight and size


Dollar bills cannot be called 100% paper. No, not like that. Dollar bills cannot be called such at all, because in their manufacture textile materials are used, such as linen (25%) and cotton (75%). In simple words - woodless paper is used to make a banknote, so the banknote is elastic to the touch, but is durable. If you try to break it, which, of course, is not worth doing, then the bill will not be torn immediately, returning to its original form. Its strength was proved by experiments, as a result of which it was revealed that in order to tear a banknote without applying force for this, it will have to be bent at least 4000 times in the same place.

Despite the fact that all banknotes are made, regardless of their denomination using the same technology, the life of each of them is different. To a greater extent because some bills are used more often and others less often. For example, a 100 dollars bill can be used for 60 months on average, but a 5 dollars bill will last only 24 months, while the shortest life of a 10 dollars bill is 18 months.

The most popular banknotes in the United States are denominations of 1 and 20 dollars. But in other countries, 100 dollars bills are often used, which creates big problems for giving change. Therefore, if you pay attention, most often goods sold in foreign countries “for dollars” have a rounded amount in order to give change easier.

By the way, the size of banknotes is 155.956 mm by 66.94 mm with the weight of 1 gram.

Design features


Today, on every banknote and coin, regardless of their denomination, you can find the slogan "In God We Trust" which has become legendary throughout the world. But few people thought about the origin of this phrase.

It was first used in 1864 on a two-cent coin issued at that time, and exclusively as a design element. And it took as much as 100 years for this phrase to be officially printed on all coins and banknotes, in 1964 the corresponding law was adopted.

By the way, since we’ve started talking about design, it’s worth noting that the $100 banknote was changed only twice during its entire existence. And just superficially, without moving Benjamin Franklin off the pedestal, but only slightly modifying his portrait.

In general, banknotes of the American currency are adorned by portraits of famous people exclusively male. And despite the fact that the US government is actively fighting for gender equality. Be that as it may, the fact is clear - women were not allowed to the banknotes of the national currency, like the portraits of famous African-American figures, by the way. And only the only lady adorned a certificate of 1 silver dollar in 1886. This woman was Martha Washington.

However, if we believe the statements of the US Treasury Secretary Jacob Lew from 2015, there will be a new bill in denominations of $10 with a picture of a woman by 2020. Which woman, however, is unknown. Like whether this promise will ever become a reality.

As for the portraits of current presidents on banknotes of the US national currency, it has been prohibited by law since 1866 - surviving politicians have no right to decorate banknotes and coins of the state.

Face value of the US dollar


The smallest denomination of the US dollar is 1. The largest is a 100 dollars bill. In total, in the line of dollars the following options are presented: 1, 2, 5, 10, 20, 50 and 100 dollars. And in all this diversity, it is least likely today to see a 2-dollar banknote. All because its release ceased in 2003.

Therefore, if someone still has such a banknote, you can safely consider it special, because sooner or later they will become unusable and go out of circulation, leaving only a memory of themselves. Numismatists, keep $2 as the apple of their eye!

But the largest bill ever printed in the United States has a face value of $100000 with the image of Woodrow Wilson – 28th US President. The banknote was issued in 1934.

Up to this point, the state already had a currency in denominations of 500, 1000, 5000 and 10000 dollars, but together with the new 100000 bill they were destined to exist only until 1945. And in 1969, the then president of the state, Richard Nixon, banned the issuance of currencies whose face value would exceed $100.

By the way, it’s quite reasonable. The fact is that during the circulation of large banknotes, gangsters actively plundered American banks. Indeed, it was in these institutions that large bills were located with the aim of making settlements between banks within the country.

Today, any of the denominations 500, 1000, 5000 and 10000 dollars, if it falls into the bank, is immediately subject to destruction, because such money has long been withdrawn from circulation.

Nevertheless, collectors still do not lose hope once to meet rare banknotes and are ready to pay for them amounts in excess of face value. For example: in 2006, a banknote of 1860 with a face value of $,000 was sold at auction for $2255000.

Dollar sign $


Each currency has its own "brand" mark, which is used in official documentation, and simply when writing. The US dollar also has it and it looks like this: "$". But few people know where the root of this sign come from. We are telling.

A businessman from New Orleans named Oliver Pollock used peso as his settlement when making financial transactions. The currency was designed in the form of “Ps” - a merger of the letters “P” and “S.” Simplifying the task of calculations, Oliver used the “S” icon in documents, crossing it with two vertical lines, which made it appear that the letter “P” is superimposed on the "S".

And the “$” sign became an official sign of the US dollar a bit later. The Oliver Pollock's idea was picked up by Roberts Morris, who was the representative of the United States government. It was he who became the first to use this sign in official documents.

The magic of number 13


Each dollar bill has its own "drawing" on the back of the banknote. The 1 dollar bill is especially interesting for the images displayed on it, in one way or another, each of them is associated with the number 13:

"Why?" – you would ask. The fact that the number 13 was chosen for a reason. It is this number of colonies that has the state inclided: New Hampshire, Massachusetts, Rhode Island, Connecticut, New Amsterdam, soon renamed New York, New Jersey, Pennsylvania, Delaware, Maryland, North Carolina, South Carolina and Georgia.

Bacteria


Experts from Ohio revealed that absolutely all US dollar banknotes that circulated earlier and are now in circulation contain bacteria. This, of course, is not surprising - money is constantly changing hands. But most of these bacteria are not terrible for human health. However, 7% of the bacteria found, according to experts, can still cause harm to human health and cause diseases such as staphylococcus and pneumonia.

And the dollar is not one!


In addition to the well-known to the masses the American dollar, there are quite a large number of currencies, the name of which includes "dollar" in the world. At the moment, there are 44 types of dollars, including both the well-known - New Zealand, Australian, Canadian, Singaporean - and relatively little-known: the dollar of Kiribati, the dollar of Niue, the dollar of the Cook Islands, etc.

However, no matter how many dollars there are on the planet, the US currency is and remains the most valuable and stable. And as the experience shows, it is best to store savings in a stable currency, which is the American dollar.

Author: Kate Solano for Forex-Ratings.com

RELATED

Financial Instruments Explained: Types And Asset Classes

Every beginning investor, having defined his investment objectives and risk profile, thinks about how to structure his portfolio so that it meets his needs...

Understanding the Nuances of Limit Orders in Trading

In the intricate and fluctuating world of trading, limit orders emerge as an essential tool for investors and traders aiming to assert control over their transaction prices...

Forex swap: what it is, how it is calculated, and what are swap-free accounts in Octa

One of the most misunderstood terms in Forex trading is swap or Forex swap. To trade successfully, you should understand what Forex swap depends on and how it is calculated. This article describes what a Forex swap is, explains its mechanics, and describes swap-free trading accounts.

What You Need To Know Before Trading CFD

A Contract for difference offers investors and traders diverse opportunities to profit in the market from the price movement of assets without owning the asset...

A Guide to Interest Rates and How It Affects the Economy

A central bank’s mission is generally to keep the economy humming along – that means not too hot, not too cold, but just right. When the economy starts accelerating...

Efixxen: Next-level trading with versatile tools and impressive industry-leading technology

Efixxen is your one-stop place to sharpen your trading edge with our competitive conditions tailored to your unique trading style and preferences. Each trader can unlock endless trading possibilities thanks to our next-generation tools...

How to Trade CFDs on Gold and Silver

Gold and silver have been chosen by traders for hundreds of years now. These metals are always in demand, especially from manufacturers of jewellery or other sectors such as the electronics...

Top6 Benefits of Forex Trading

Forex trading, also referred to as foreign exchange, is the process of exchanging currencies to potentially make a profit, usually for trading purposes...

Nixse: Deep Access to Global Markets

Trade over 1500 instruments on the NX Trader platform, choose from Currencies, Commodities, Stocks, Indices and Digital currencies with razor-thin fees and low commissions on all markets...

How to start trading

Diving into any new industry, especially forex, requires planning. In this article, we’ll break down the process of how to start trading in 7 simple but critical steps...

Strongest and Most Valuable Currencies in the Global Landscape

In the realm of international economics and trade, the strength and value of a currency play a vital role. A strong currency reflects the health of its nation's economy and its global economic stature...

What do alpha and beta mean in investing?

Alpha and beta are indicators for evaluating the effectiveness of investments. Alpha measures the performance of an asset or a portfolio relative to the market...

Guide To Choosing A Broker In 2023

Choosing a reliable broker is an important step in the career of a successful trader. It is the broker, being the intermediary between you and the market...

A Comprehensive Guide On How To Trade USD/CAD Currency Pair

The USD/CAD currency pair represents the relationship between the US dollar and the Canadian dollar and is a favored choice among currency traders due to its active trading hours...

Spread, swap, quotes and other scary words

How to make money in Forex? This is the most common question asked by all newcomers to the world of finance. If you're serious about starting to trade on a stock exchange...

Proactive Trader: a Team Player or a Loner?

When you start trading, many questions appear in your head. Today we concentrate only on ones that consider the effectiveness of performing on Forex...

The origins of Forex

The modern international currency trade is only 42 years old, but in 2019 this market reached a daily turnover of $6.6 trillion (the estimate for 2020 is $10 trillion!)...

Frequently asked questions about Cryptocurrency CFDs

Bitcoin is a digital currency that was created in 2009. Its creators are unknown, as they disguised themselves using the alias of Satoshi Nakamoto. When Bitcoins are bought or sold...

Important Factors in Trading Forex

Whether you are already investing in the Forex markets with Olymp Trade or you're looking to start, there are many things to consider and understand in order to find more...

Forex: perfect source of first income for the youth

In today’s fast-paced digital world, young people seek new avenues to earn income and gain financial independence. Among the options available, Forex trading stands...

XM information and reviews
XM
82%
FP Markets information and reviews
FP Markets
81%
FXTM information and reviews
FXTM
80%
AMarkets information and reviews
AMarkets
79%
Octa information and reviews
Octa
79%
BlackBull information and reviews
BlackBull
78%

© 2006-2025 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.