National Dollar Day
Whether it’s a copper-colored penny coin with Abraham Lincoln’s face on it, or a cool $100 bill sporting Benjamin Franklin, the currency of the United States is all based on the dollar.
And National Dollar Day is a great time to learn about and appreciate this fine banknote.
How to Celebrate National Dollar Day
Enjoy National Dollar Day by celebrating this currency in some fun ways, including these ideas:
Learn Some Fun Facts About Dollars
Celebrating the dollar can mean getting to know some interesting tidbits of information and then sharing them with friends or coworkers on National Dollar Day. For instance, many people don’t realize that the highest dollar denomination to ever circulate was $10,000. Other fun facts to learn and share might include:
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Dollars did not depict the portraits of American presidents until the late 19th century. Prior to that, they had pictures of Roman and Greek mythology, as well as some Native American depictions.
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The only woman to ever appear on a US paper bill is Martha Washington, the wife of the first US President, George Washington.
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As a symbol of the original 13 colonies the $1 bills contains 13 arrows, 13 leaves, 13 stars, and 13 stripes.
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While the life of a coin is at least 30 years, dollar bills don’t last nearly as long. $100 bills can last around 18 years, $10 bills around 3 ½ years and $1 bills just under 5 years.
Start a Dollar Coin Collection
One fun way to enjoy National Dollar Day might be to begin a United States coin collection.
The Silver dollar (or the Eisenhower dollar), the Susan B. Anthony dollar, and the American Silver Eagle dollar are all forms of US dollars with a silver color that appeared in the 20th century.
Since then, the Sacagawea dollar, the Presidential dollar coins and the American Innovation dollar coins have been released, mostly for collectors.
Visit a United States Mint
National Dollar Day would be a particularly fun time to take a tour of a US Mint. The original mint created in 1792 is the one that was started in Philadelphia.
Now, there are four located throughout the country: Philadelphia, Pennsylvania; Denver, Colorado; San Francisco, California; and West Point, New York.
History of National Dollar Day
National Dollar Day takes place each year on August 8, as it is the anniversary of the date when the Continental Congress established that the money unit of the United States would be the dollar.
This happened in 1786 and, just six years later, the United States Mint was established in 1792. The US currency has been the dollar for more than 200 years since.
Dollars originally started out as metal coins, including gold (worth $10), silver (worth $1) and copper (worth 1/100 of $1).
Eventually, the US mint began printing dollars on paper, almost 80 years later. Although dollar coins are still in circulation, they are less popular than the paper version.
Today, the US dollar is the world’s primary reserve currency. It plays a vital role in international finance and trade, acting as both a medium of exchange as well as an indicator of value. National Dollar Day is the time to celebrate everything to do with the dollar!
National Dollar Day FAQs
Why did Thomas Jefferson advocate for a decimal-based currency system?
Thomas Jefferson championed the decimal currency system for its simplicity.
He believed it would make math easier for everyday transactions, encouraging more financial literacy. His efforts helped the U.S. move away from complex systems like the British pound, which relied on fractions.
How did the U.S. dollar get its name?
The word “dollar” originates from “thaler,” a silver coin used in Europe during the 16th century.
The Spanish peso, a similar coin, was widely circulated in colonial America and influenced the choice of the term. It became a natural fit when Congress decided on the official currency in 1786.
What role did Alexander Hamilton play in creating the U.S. dollar?
Alexander Hamilton, the first Secretary of the Treasury, laid the foundation for the U.S. monetary system.
He argued for a national currency to stabilize the economy and boost public confidence. His detailed reports to Congress ultimately shaped the nation’s first financial system.
Why do dollar bills have a unique texture?
Dollar bills feel different from regular paper because they’re made of 75% cotton and 25% linen.
This blend makes them durable and resistant to wear. Their unique texture also helps people distinguish genuine bills from counterfeits.
Are there any quirky superstitions about the dollar?
Many people believe carrying a dollar bill in their wallet attracts financial luck. Some even fold them into specific shapes, like triangles, as a charm.
While unproven, these practices highlight how deeply money ties to personal beliefs.
Why did the U.S. issue high-denomination currency like the $10,000 bill?
The U.S. issued high-value bills for bank transactions and internal transfers between Federal Reserve Banks.
These bills weren’t for everyday use. The $10,000 bill, featuring Salmon P. Chase, was discontinued in 1969 due to low demand.
What is the origin of “greenback” as a nickname for U.S. currency?
“Greenback” emerged during the Civil War, referring to the green ink used on one side of the bills. This design distinguished them from gold-backed currency and established a lasting nickname for U.S. paper money.
Why do some people track their dollar bills on “Where’s George?”
“Where’s George?” lets users track the journey of their dollar bills online.
By entering the serial number, they can see where their money travels. It’s a fun way to connect with the broader economy and celebrate National Dollar Day.
Why are there so many 13s on the dollar bill?
The number 13 represents the original 13 colonies of the U.S. It appears in the eagle’s talons (13 arrows), the shield’s stripes, and the stars above the eagle. This design reflects the nation’s roots.
How did dollar coins inspire the development of vending machines?
In the late 19th century, vending machines began accepting coins, including dollar coins.
Their consistent size and weight made them ideal for early coin-operated technology. This innovation helped expand vending machines’ popularity worldwide.
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