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Money and Banking

USA Currency

The basic unit of USA money is the dollar. One dollar is written as $1 or $1.00. One cent is written as 1¢. One dollar and twenty-five cents would be written as $1.25. Dollar amounts are written with a comma every three digits, so one thousand dollars would be written as $1,000.00.

Paper currency is used for amounts of $1 or more, and coins are used for amounts under $1. The most common coins and their dollar equivalencies are as follows:

Coin Figure on Front Value (Cents) Value (Dollars) Color
Penny Lincoln 1 cent 0.01 dollars Copper
Nickel Jefferson 5 cent 0.05 dollars Silver
Dime Roosevelt 10 cent 0.10 dollars Silver
Quarter Washington 25 cent 0.25 dollars Silver
Half Dollar Kennedy 50 cent 0.50 dollars Silver
Dollar Anthony 100 cent 1.00 dollars Silver

Paper currency is most often circulated in the following denominations: $1, $5, $10, $20, $50, and $100. Occasionally you will encounter a $2 bill. The denomination of all currency is clearly marked on the bottom of both sides of the bill, and on all four corners. Some stores will not accept bills larger than a $20. The $20 bill was recently redesigned to make it more difficult to counterfeit, so you will see both the new and old bills in circulation. All currency is green and printed using special paper. The slang term for a dollar bill is a "buck", so $20 might be described as "twenty bucks".

Each denomination includes a picture of a famous American statesman on the front. The following table describes the images on the various denominations.

Denomination Portrait on Front Illustration on Back
$1.00 George Washington Great Seal of the United States
$2.00 Thomas Jefferson Declaration of Independence
$5.00 Abraham Lincoln Lincoln Memorial
$10.00 Alexander Hamilton US Treasury Building
$20.00 Andrew Jackson White House
$50.00 Ulysses S. Grant US Capitol Building
$100.00 Benjamin Franklin Independence Hall