The basic currency in the United States is the dollar. Coins equal up to one dollar, such as four quarters equal a dollar, ten dimes equal a dollar, or twenty nickels equal one dollar. The dollar is also a basic part of larger bills. Five dollar bills are equal to one five dollar bill and so forth. The U.S. dollar is definitely the basic currency denomination in the U.S. Paper currency has been in existence since the late 1600’s when it was first used by the Massachusetts Bay Colony. The dollar changed over the years, and in the early 1900’s, it was backed by gold according to the Gold Standard Act. Anyone who had a dollar bill could go to a bank and demand its value in gold. Another form of the dollar was the United States Note, which was also known as the Legal Tender Note. Today, the dollar follows the fiat standard and does not have any backing of gold, silver, or precious metals. The U.S. government can print as many dollars as they would like to print since the dollars do not need any gold or silver backing.
The U.S. dollar bill has many interesting images and words that few people take the time to notice. Most people simply pull the bills out of their wallet and hand them over to make purchases for the products that they want. The U.S. dollar, especially the twenty dollar bill, is frequently used to snort cocaine. In fact, ninety-seven percent of all American bills have traces of cocaine on them. A one dollar bill is usually only in circulation for around eighteen months, and since a twenty dollar bill is not used quite as frequently as a dollar bill; its lifespan is about two years.
Research has shown that any U.S. bill would need to be folded around eight hundred times before weakening and eventually tearing. This is not because of strong paper, but because the dollar is actually made from linen fabric. The fabric threads in a five dollar bill will turn to blue when the bill is placed under an ultraviolet light. The twenty dollar bill has the image of an elm tree on the back of it. This tree actually exists on the White House lawn. A small owl sits in the corner of the one dollar bill, but few people ever notice it. There is also a small spider on another corner of the bill.
People have tried to figure out the mysterious symbols on U.S. currency for many years. The number thirteen is frequently used. It probably originated to represent the original thirteen colonies. There are thirteen stars above the eagle on the dollar, thirteen steps on the Pyramid, and thirteen leaves on the olive branch. This branch also has thirteen berries. There are also words in Latin on different bills, and few people know the meaning of these words. The dollar bill says, “Annuit Coeptis,” which means “God has favored our undertaking.” The Latin words below the pyramid say, “Nofus Ordo Seclorum,” meaning “a new order for the ages.”
The buying power of the dollar is definitely not what it once was. Between 1913 and 2008, the value of the U.S. dollar decreased by 95 percent. In other words, a person could buy 95 percent less with a dollar than they could in 1913. As inflation increases and price rise, people today must pay more for things that they once paid. They need far more dollars to do this. For example, a loaf of bread costs 20 times more than it did in 1913. The U.S. dollars do not have the value that it once had. No one knows for sure if the value of the dollar will increase in the future. There are many factors that influence its value, including politics and the U.S’s relationship with other countries.