7 facts about US currency

Currency Facts:

• The basic face and back designs of all denominations of United States paper currency, except the back of the $1 and $2 denominations in general circulation today, were adopted in 1928.

• The front of the notes feature portraits of famous, deceased American statesmen: George Washington on the $1 note, Thomas Jefferson on the $2 note, Abraham Lincoln on the $5 note, Alexander Hamilton on the $10 note, Andrew Jackson on the $20 note, Ulysses Grant on the $50 note, and Benjamin Franklin on the $100 note. The backs of the notes feature images reflective of the history of our nation: The Great Seal of the United States on the $1 note, the signing of the Declaration of Independence on the $2 note, the Lincoln Memorial on the $5 note, The Treasury Building on the $10 note, the White House on the $20 note, the Capitol on the $50 note, and Independence Hall on the $100 note.

• The $100 note has been the largest denomination of currency in circulation since 1969.

• The obverse and reverse of the Great Seal of the United States appeared in a currency design for the first time when the $1 Silver Certificate, Series 1935, was issued. The Seal dates back to 1782 - before the Constitution.

• United States currency denominations above $100 are not available from the Department of the Treasury, the Federal Reserve System, or the Bureau of Engraving and Printing. On July 14, 1969, the Department of the Treasury and the Federal Reserve System announced that currency notes in denominations of $500, $1,000, $5,000, and $10,000 would be discontinued immediately due to lack of use. Although they were issued until 1969, they were last printed in 1945.

• These large denomination notes (those above $100) are legal tender and may be found in circulation today; however, most notes still in circulation are probably in the hands of private numismatic dealers and collectors.

• The largest note ever printed by the Bureau of Engraving and Printing was the $100,000 Gold Certificate, Series 1934. These notes were printed from December 18, 1934 through January 9, 1935 and were issued by the Treasurer of the United States to Federal Reserve Banks (FRB) only against an equal amount of gold bullion held by the Treasury. These notes were used for transactions between FRBs and were not circulated among the general public.

Source: The U.S. Department of the Treasury - Bureau of Engraving and Printing

Posted by Jeff Rae on Aug 09, 2011 at 7:02 AM