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Printing the Dollar

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Submitted By eemartin1
Words 2852
Pages 12
Introduction
“You might have noticed that it’s pretty hard to find any cash printed much earlier than the 1990s in circulation.” (Indiviglio) Money is always being created and destroyed, whether it is being physically printed or transferred electronically from the Federal Reserve. Let’s first talk about the history of the United States currency. The original currency of the United States was produced in 1690 and was able to be converted directly to gold or silver. Later, the Continental Congress of the United States chose the dollar over other suggested types of currency and this selection was formalized in the Coinage Act of 1792. The first dollar was issued on September 8, 1789. The United States banknotes are printed by the Bureau of Engraving and Printing, and the United States coins are produced by the United States Mint. This currency was guaranteed with gold and silver until 1861. In 1861, banknotes were introduced to help finance the Civil War and the first real dollar note was created by the Federal Reserve Act of 1913. “Since 1971, dollar notes have been the only form of money in the United States. With currency coins having no gold or silver backing, US dollars are to be backed by the “full faith and credit” of the US government.” (United States Dollar) One interesting fact is that the largest bill ever printed was worth $100,000. This bill was never circulated, but was used during transactions with the Federal Reserve Bank. It was printed between December 18, 1934 and January 9, 1935 and had a portrait of President Woodrow Wilson on the front.
No longer is the Bureau of Engraving and Printing a handful of individuals that have hand-cranked machines in the basement of the Treasury building. It has now grown into multiple processes requiring highly trained, skilled employees with specialized cutting edge technological equipment to produce

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