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The United States of America (USA or U.S.A.), commonly known as the United States (US or U.S.) or America, is a country primarily located in North America. It is a federation of 50 states, a federal capital district (Washington, D.C.), and 326 Indian reservations.
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The national flag of the United States (Spanish: Bandera...
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The culture of the United States of America, also referred...
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The United States dollar (symbol: $; currency code: USD; also abbreviated US$ to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official currency of the United States and several other countries.
- USD (numeric: .mw-parser-output .monospaced{font-family:monospace,monospace}840)
- Federal Reserve
- April 2, 1792; 231 years ago
- $, US$, U$
The United States of America (U.S.A. or USA), commonly known as the United States (U.S., US or the States), or simply America, is a sovereign country mostly in North America. It is divided into 50 states. Forty-eight of these states and the District of Columbia border each other between the Pacific and Atlantic Oceans.
- American
- No official language at federal level
The United States dollar ( symbol: $; currency code: USD; also abbreviated US$ to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official currency of the United States and several other countries.
- Origins: The Spanish Dollar
- Continental Currency
- Coinage Act of 1792
- 19th Century
- Gold Standard
- Note Issuance
- Use as International Reserve Currency
- Fiat Standard
- Color and Design
- See Also
The United States Mint commenced production of the United States dollar in 1792 as a local version of the popular Spanish dollar or piece of eight produced in Spanish America and widely circulated throughout the Americas from the 16th to the 19th centuries. Made with similar silver content to its counterparts minted in Mexico and Peru, the Spanish,...
After the American Revolutionary War began in 1775, the Continental Congress began issuing paper money known as Continental currency, or Continentals. Continental currency was denominated in dollars from $1⁄6 to $80, including many odd denominations in between. During the Revolution, Congress issued $241,552,780 in Continental currency. By the end ...
On July 6, 1785, the Continental Congress of the United States authorized the issuance of a new currency, the US dollar. The word dollar is derived from Low Saxon cognate of the High German Thaler; the term had already been in common usage since the colonial period when it referred to eight-real coin (Spanish dollar) or the "Spanish milled dollar" ...
In the early 19th century, the intrinsic value of gold coins rose relative to their nominal equivalent in silver coins, resulting in the removal from commerce of nearly all gold coins, and their subsequent private melting. Therefore, in the Coinage Act of 1834, the 15:1 ratio of silver to gold was changed to a 16:1 ratio by reducing the weight of t...
Note: all references to 'ounce' in this section are to the troy ounce as used for precious metals, rather than to the (smaller) avoirdupois ounce used in the United States customary unitssystem for other goods. Bimetallism persisted until March 14, 1900, with the passage of the Gold Standard Act,which provided that: Thus the United States moved to ...
Silver certificates
United States silver certificates were a type of representative money printed from 1878 to 1964 in the United States as part of its circulation of paper currency. They were produced in response to silver agitation by citizens who were angered by the Fourth Coinage Act, and were used alongside the gold-based dollar notes. The silver certificates were initially redeemable in the same face value of silver dollar coins, and later in raw silver bullion. Since the early 1920s, silver certificates w...
Gold certificates
Gold certificates were another form of representative paper money issued by the United States Treasury from 1865 to 1933 and redeemable in gold. While the United States observed a gold standard, the certificates were a convenient way to pay in gold.
Wildcat Notes
Paper currency was issued by poorly capitalized state-chartered "wildcat" banks in the United States during the Free Banking Era from 1836 to 1865. These bearer notes were formally redeemable in specie but typically collateralized by government bonds or real estate notes, or even nothing at all.[citation needed]
History
World War II devastated European and Asian economies while leaving the United States' economy relatively unharmed.As European governments exhausted their gold reserves and borrowed to pay the United States for war material, the United States accumulated large gold reserves. This combination gave the United States significant political and economic power following the war. The Bretton Woods agreement codified this economic dominance of the dollar after the war. In 1944, Allied nations sought t...
Impact
The United States enjoys some benefits because the dollar serves as the international reserve currency. The United States is less likely to face a balance of paymentscrisis.
Today, like the currency of most nations, the dollar is fiat money, unbacked by any physical asset. A holder of a federal reserve note has no right to demand an asset such as gold or silver from the government in exchange for a note. Consequently, some proponents of the intrinsic theory of valuebelieve that the near-zero marginal cost of production...
The federal government began issuing paper currency during the American Civil War. As photographic technology of the day could not reproduce color, it was decided the back of the bills would be printed in a color other than black. Because the color green was seen as a symbol of stability, it was selected. These were known as "greenbacks" for their ...
The United States dollar (or American dollar) is the official currency of the United States of America. It is also used in some other countries outside the US . It is the standard currency for international markets selling goods such as gold and oil ( petrol ).
People also ask
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The United States of America is a federal republic [1] consisting of 50 states, a federal district ( Washington, D.C., the capital city of the United States), five major territories, and various minor islands. [2] [3] Both the states and the United States as a whole are each sovereign jurisdictions. [4]
