The dollar is the legal tender in the United States –the country where it is minted- but also of other countries such as Ecuador, El Salvador or Zimbabwe. Moreover, the US dollar is the most common currency used by tourists.

The first silver dollars were issued in 1794 after the adoption of the “Coinage Act”, the decree that established the first American national mint and set the dollar as reference unit for the whole country.

As regards the national banking system, the Federal Reserve Act of 1913 established a central bank to help follow the rhythm of changes in the country’s financial need. The Federal Reserve Board created a new currency called Federal Reserve Notes. The first federal note was for ten dollars, created in 1914. Later, the Federal Reserve Board decided to lower the money manufacturing costs by reducing the official size of notes by 30%.

The design of notes would not change again until 1996, when a new series of improvements were introduced over a period of ten years to prevent counterfeiting.

Countries using US Dollar

Although dollars are used commonly in many countries, the US dollar is really legal tender in only eight countries. These countries are: The United States of America, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, East Timor and Zimbabwe. . 

Current US dollar Coins and Banknotes

 

There are currently five different denominations of the US Dollar, which have been nicknamed:

  • One cent: a penny.
  • Five cents: a nickel.
  • Ten cents: a dime.
  • Twenty five cents: quarter.
  • Fifty cents: half dollar.

Monedas del dólar americano

 

Regarding banknotes,there are seven denominations: 1, 2, 5, 10, 20, 50 and 100 dollars.

Billetes del dólar americano



 

Did you know?

  • Since 1956 all banknotes bear the printed motto: In God We Trust
  • Banknotes of 50 and 100 dollars can stay in circulation for up to eight years, 20 dollar notes circulate for an average 2 years, whereas the durability of a single dollar bank note is just 18 months.
  • The new 100 dollar notes bear an image of the Independence Hall in which the clock indicates the time: 4:10 pm.
  • Dollar notes are not made of paper but instead they are made of a cotton-linen blend for longer duration.
  • The only time when banknotes showed the image of a woman was in 1886, when Martha Washington’s effigy was placed on the obverse of silver certificates for one dollar, together with the image of her husband, the first President of the United States, George Washington.
  • “Dollarization” is the process of incorporation of one currency into the economic market of a different country.

Symbol:

$

ISO:

USD

Date of creation:

6th July 1785, United States of America.

Authority:

Federal Reserve of the United States of America

Otras monedas del mundo:

Online money orders: best price guarantee

Order online and collect your currency at the branch of your choice.

Order online
Your best price
 

Why change currency with us rather than your bank

    Global Exchange Global Exchange   Your high-street bank
Variety of currencies   51. We are specialists.   Only major currencies. Travel money is just a secondary business for banks.
Availability of currencies   Immediate availability of currencies in our branches at Billund airport. Click and collect or walk in to our stores.   If they can actually get your exotic currency, prepare for a couple of visits to your bank before you can have the money on your hands.
Expenses   At Billund airport you pay the exchange rate, without any additional charges. If you book online, you save 25% on the exchange margin and pay at the airport the collection day.   The bank sets its own margin plus a commission.
Different denominations available   At Global Exchange, you’ll get a variety of banknotes with different values, adapted to all your payment needs.   No. Prepare for refusals and complaints in foreign languages when paying with «big» banknotes.
Delivery options   Order online to benefit from a price reduction and collect at the branch of your choice.   You’ll have to go first to your bank to order the currency you need, then wait for it to come and go back again to collect it.