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Study In USA<< Lifestyle << Money and Banking
Lifestyle

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 cents

0.05 dollars

Silver

Dime

Roosevelt

10 cents

0.10 dollars

Silver

Quarter

Washington

25 cents

0.25 dollars

Silver

Half Dollar

Kennedy

50 cents

0.50 dollars

Silver

Dollar

Anthony

100 cents

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