US coins: photo and history

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Interest in the US dollar, which has not subsided for a long time, is due to economic reasons. But there is no less talk about the coins issued by this country. History shows that the state had a special attitude towards them. Read more about how US coins appeared and changed, read on.

Origination

The word "dollar" is of Czech origin. In what was then Bohemia, this was the name given to silver coins. Later they were renamed to thallers. But when, in 1700, samples from Spain appeared in circulation in colonial America, which in shape and appearance resembled Bohemian coins, they began to be called dollars or pesos.

Government regulation

The process of making banknotes has been tightly controlled by the government since 1792. Then the Mint was launched, which throughout its history minted banknotes not only for America, but also for Philadelphia, Denver, West Point, San Francisco.

The President of the United States in 1792 signed a legislative act, according to which 1 dollar was equal to 100 cents. These banknotes are stillare the main ones in the country. But other names are used in informal vocabulary: penny (one cent), nickel (5 cents), dime (two nickels), bak=one dollar (hence the word "bucks").

The legislative act intended to introduce a free issue of coins with a clear fixing of the ratio of gold and silver. In conditions of market instability, US coins were withdrawn from circulation, the value of which increased due to fluctuations in metal prices. The fixed ratio was 1:15. But it changed with each release.

After the passage of the Constitution, Congress allowed the Bank of the United States to issue security notes. But other credit institutions did the same. As a result, more than a thousand different banknotes were in circulation. Fraudsters used these coins, US dollars, with pleasure. By the end of the civil war, a third of the banknotes in circulation had been counterfeited. The Secret Service took over the problem.

Later years

The Gold Rush began in 1849. The coin "1 US dollar" was put into circulation. After some time, banknotes appeared in denominations of 3 and 20 dollars. To finance the war with the Confederacy, Congress forced the Treasury to issue its own banknotes. These greenbacks were not backed by precious metals until 1878.

The act of 1873 abolished bimetallism and introduced the gold coin standard. Silver became a commodity and lost its fixed value. This process was followed by deflation, which led tounemployment. For many years of existence, this system caused a lot of controversy. But was canceled with the onset of the Great Depression.

Heads or Tails

The first image for the US coin, pictured below, was drawn from Anna Willing Bingham, daughter of the President of the First Bank. Under Thomas Jefferson, the set was designed by John Reich. The model was a girl with a Phrygian cap on her head. In subsequent years, the design has changed several times.

The most memorable copy was issued under Theodore Roosevelt. Due to the unusually convex and depressed shape of the US coin, the shelf life has increased. In the period from 1837 to 1838, banknotes were issued with a new image of Freedom. They were minted with a girl who, sitting on a rock, held a shield in her hand with the inscription "LIBERTY". However, the artist made a mistake. The right hand looked larger than the left. But still, this coin stayed in circulation for 50 years. Due to the accumulation of a large number of super-old samples in 1892, there was a massive reissue of banknotes.

After the victory in World War I, the “peace dollar” appeared in circulation. It showed a bald eagle with an olive branch perched on a rock with the words "PEACE" written on it.

Important points

The "1 US dollar" coin, which got its name from the name of the engraver - "Morgan" is of particular importance. Since 1873, it has been minted in gold. The act of 1873 that abolished bimetallism affected the owners of the silver mines. But after the mass purchase of this met althe cost of coins at times exceeded their face value. As a result, banknotes began to be minted again from gold (1878), and silver denominations of 3 and 5 cents were withdrawn from circulation.

After the Great Depression, the coin "25 US cents" (quarter) appeared in circulation. It became the first where Freedom - the main symbol of America - was replaced by Washington. This trend then repeated itself repeatedly. The 1964 model is now in use. At the same time, new 10- and 50-cent silver samples appeared with a large number of patriotic symbols. On the first, which was called the dime "Mercury", Freedom was depicted in a Phrygian cap with wings, which symbolized the revolution. The reverse depicted a battle ax blade and olive branches. These signs symbolize the readiness for protection and the desire for peace. Samples of 50 cents were "wrapped" in the national flag. Since 2010, US cents (coins) have been made from zinc, brass and nickel alloy.

Special Edition

Increased interest in US banknotes influenced the minting of a number of commemorative coins. The penny series is dedicated to Abraham Lincoln. It includes 4 samples. The reverse of each depicts important stages in the life of Abraham. The obverse features the profile of the 16th President of the United States. The 2009 anniversary series was made of zinc and covered with copper. The design of the sample on the back features the Lincoln Memorial.

Unique designs of nickels, nickels, appeared in 2004. On the obverseA portrait of Thomas Jefferson was minted. All unique US coins have images showing the stages of the development of the West:

• Medal "Acquisition of the World'', which was awarded to the participants of the expedition to explore the West.
• The boat on which Lewis and William Clark traveled through the territories of America.
• Profile of the grazing bison - this animal is of great importance in the cultures of many peoples of the Americas.
• view of the Pacific coast.

But most collectors are interested in coins with a face value of 25 cents (quarters). The first anniversary sample was released in 1976. The obverse features an image of George Washington. On the reverse - a drummer with a torch of victory, surrounded by 13 stars (the number of the country's first states).

No less interesting is the 50 States coin, the issue of which was extended for 10 years. During this period, 5 samples per year were produced. These are copper coins with a nickel alloy. Parameters: diameter - 24.3 mm, weight - 5.67 g, thickness - 1.75 mm. Anniversary quarters are fully consistent with the standard ones.

Conclusion

The first US coins appeared in circulation in the 17th century. They were made from silver and gold. For a long time, the symbol of the country - Freedom - has been a mandatory design element. Her images were copied from famous and beautiful girls of that time. The design of each issue has changed. On the obverse of modern samples, portraits of US presidents ruling in different years are depicted. On the reverse - symbols of peace, the power of the state and readinessdefend.