The dollar (currency code USD) is the unit of currency of the
United States. It is normally abbreviated as the dollar
sign, $, or as USD or US$ to distinguish it from other
dollar-denominated currencies and from others that use the $
symbol. The U.S. dollar is divided into 100 cents.
Adopted by the United States on July 6, 1785, the U.S.
dollar is the currency most used in international
transactions. Several countries use the U.S. dollar as their
official currency, and many others allow it to be used in a
de facto capacity. In 1995, over US $380 billion were in
circulation, two-thirds of which was outside the United
States. By 2005, that figure had doubled to nearly $760
billion, with an estimated half to two-thirds being held
overseas, representing an annual growth rate of about
7.6%. However, as of December 2006, the dollar was surpassed
by the euro in terms of combined value of cash in
circulation. The value of euro notes in circulation had
risen to more than Ä610 billion, equivalent to US$802
billion at the exchange rates at the time.
The symbol $, usually written before the numerical amount,
is used for the U.S. dollar (as well as for many other
currencies). An example would be "$45", which is read as
The first dollar coins issued by the United States Mint were
of the same size and composition as the Spanish dollar and
even after the American Revolutionary War the Spanish and
U.S. silver dollars circulated side by side in the United
States. The coinage of various English colonies also
circulated. The lion dollar was popular in the Dutch New
Netherland Colony (New York), but the lion dollar also
circulated throughout the English colonies during the
Seventeenth and early Eighteenth centuries. Examples
circulating in the colonies were usually fairly well worn so
that the design was not fully distinguishable, thus they
were sometimes referred to as "dog dollars".
Private banks issued currency backed by Spanish and U.S.
silver and gold coinage, although the federal government did
not do so until the American Civil War.
The U.S. dollar was originally specified by the Coinage Act
of 1792 to be a unit of weight (471.25 grains of troy silver
(about 30.54 g of silver)) and not one of money as it is
thought of today. The value of gold or silver contained in
the dollar was then converted into relative value in the
economy for the buying and selling of goods. This allowed
the value of things to remain fairly constant over time,
except for the influx and outflux of gold and silver in the
nation's economy. According to an evaluation of data from
the U.S. Department of Treasury, the cost of goods and
services remained relatively consistent between 1635 and
1913, around a level of roughly 25 times the buying power of
the U.S. dollar in 2006.
For articles on the currencies of the colonies and states,
see Connecticut pound, Delaware pound, Georgia pound,
Maryland pound, Massachusetts pound, New Hampshire pound,
New Jersey pound, New York pound, North Carolina pound,
Pennsylvania pound, Rhode Island pound, South Carolina pound
and Virginia pound.
How to detect false Euro?
- Euro Bank Notes -
Information About Euro :
Euro Coins Collector
How to detect
false Dollar? - How to detect False
Coins Dollars? - Dollar
Images - Dolar History
How to detect false Government Checks?
When Dollar Is Damaged or
What is a Bank Notes? -
What are Banknote's
advantage? - Bank
Notes' Convertibility -
Hystory Bank Note -
Banknotes in Europe -
Banknotes in Amerias -
collecting as a hobby
Forex Terms - Definations
Forx - Definitions Forex
Currency Futures -
- Fundamental Analysis
- Technical Analysis
Offer - Pip
Spot Foreign Exchange -
Copyright © 2006-2015
Swiss Euro Bank Account.COM Consulting