Interest in the US dollar, which has not abated for a long time, is due to economic reasons. But talk about the coins issued by this country, no less. History shows that the state had a special relationship with them. Read more about how US coins appeared and changed, read on.
Origin
The word "dollar" is of Czech origin. In the then Bohemia, so-called silver coins. Later they were renamed to thalers. But when, in 1700, samples from Spain appeared in circulation in colonial America, which in shape and appearance resembled Bohemian coins, they began to call them dollars or pesos.
State regulation
The process of manufacturing banknotes has been tightly controlled by the government since 1792. Then the Mint was launched, which in its entire history was engaged in the minting of banknotes not only for America, but also for Philadelphia, Denver, West Point, San Francisco.
The President of the United States in 1792 signed a legislative act, according to which 1 dollar was equated to 100 cents. These banknotes are still the main in the country. But other names are used in unofficial vocabulary: penny (one cent), nickel (5 cents), dime (two nickels), tank = one dollar (hence the word "bucks" appeared).
The legislative act intended to introduce the free issuance of coins with a clear consolidation of the ratio of gold and silver. In conditions of market instability, US coins were withdrawn from circulation, the value of which increased due to fluctuations in metal prices. The fixed ratio was 1:15. But with every release it changed.
Following the adoption of the Constitution, Congress allowed the Bank of the United States to issue protective notes. But other credit institutions were doing the same. As a result, there were more than a thousand various banknotes in circulation. Fraudsters these coins, US dollars happily used. By the end of the civil war, a third of the banknotes in circulation were tampered with. The secret service took up the solution to the problem.
Subsequent years
The Gold Rush began in 1849. The coin "1 US dollar" came into circulation. After some time, banknotes in denominations of 3 and 20 dollars appeared. To finance the war with the Confederation, Congress forced the Treasury to issue its own banknotes. These greenbacks were not provided with precious metals until 1878.
The 1873 Act abolished bimetallism and introduced the gold coin standard. Silver has become a commodity and has lost its fixed value. This process was followed by deflation, which led to unemployment. For many years, this system has caused a lot of controversy. But it was canceled with the onset of the Great Depression.
heads or tails
The first image for the US coin, the photo of which is presented below, was copied from Anna Willing Bingham, daughter of the president of the First Bank. Under Thomas Jefferson, the design of the issue was John Reich. In the role of the model was a girl with a Phrygian cap on her head. In subsequent years, the design has changed repeatedly.
The most memorable instance was released under Theodore Roosevelt. Due to the unusually convex and depressed shape, the shelf life of US coins has increased. In the period from 1837 to 1838, banknotes were issued with a new image of Freedom. A girl was minted on them, who, sitting on a rock, held a shield in her hand with the inscription "LIBERTY". However, the artist made a mistake. The right hand looked more than the left. But still, this coin has been in circulation for 50 years. Due to the accumulation of a large number of super-old samples, in 1892 there was a massive re-issue of banknotes.
After the victory in World War I, a “peaceful dollar” appeared in circulation. It depicted a bald eagle with an olive branch, sitting on a rock with the inscription "PEACE".
Important points
Of particular importance is the "US $ 1" coin, which got its name from the engraver - "Morgan". Since 1873, it was minted in gold. The act of 1873, which abolished bimetallism, affected the owners of silver mines. But after the bulk purchase of this metal, the cost of coins exceeded their face value by several times. As a result, banknotes were again minted from gold (1878), and silver coins of 3 and 5 cents were withdrawn from circulation.
After the Great Depression , the coin "25 US cents" (quarter) appeared in circulation. It was the first where Freedom - the main symbol of America - was replaced by Washington. This trend was then repeated several times. A 1964 sample is now in use. At the same time, new 10- and 50-cent silver specimens with a large number of patriotic symbols appeared. On the first, which was called the dime "Mercury", Freedom was depicted in a Phrygian cap with wings, which symbolized the revolution. On the reverse, a battle ax blade and olive branches were displayed. These signs symbolize the willingness to protect and the desire for peace. Samples of 50 cents were “wrapped” in the national flag. Since 2010, US cents (coins) have been made of zinc, brass and nickel alloy.
Special issue
The increased interest in US currency has influenced the minting of a number of commemorative coins. The penny series is dedicated to Abraham Lincoln. It includes 4 samples. On the reverse of each, important stages of Abraham's life are displayed. On the obverse is a profile of the 16th President of the United States. The jubilee series of 2009 was made of zinc and coated with copper. The design of the sample, which is in circulation, depicts the Lincoln Memorial.
Unique samples of nickels, five-cent coins, appeared in 2004. A portrait of Thomas Jefferson is minted on the obverse. All unique US coins have images depicting the stages of development of the West:
- Medal of Acquisition of the World, which was awarded to the participants of the expedition to explore the West.
- The boat on which Lewis and William Clark traveled through America.
- Profile of a grazing bison - this animal is of great importance in the cultures of many peoples of America.
- view of the Pacific coast.
But most of all collectors are interested in coins in denominations of 25 cents (quarterers). The first anniversary model was released in 1976. On the obverse is an image of George Washington. On the reverse is a drummer with a torch of victory, surrounded by 13 stars (the number of first states of the country).
No less interesting is the 50 States coin, the issue of which was extended over 10 years. During this period, 5 samples were produced per year. These are nickel alloy copper coins . Parameters: diameter - 24.3 mm, weight - 5.67 g, thickness - 1.75 mm. Anniversary quarterbacks are fully consistent with the standard.
Conclusion
The first US coins appeared in circulation in the XVII century. They were made of silver and gold. For a long time, the symbol of the country, Freedom, has been a mandatory design element. Her images were copied from famous and beautiful girls of that time. The design of each issue has changed. The obverse of modern designs depicts portraits of US presidents who have been ruling in different years. On the reverse are symbols of peace, the power of the state and readiness to defend oneself.