Saturday, July 21, 2018

it is the currency of the united states have you see an american dollar;

have you see an american dollar; it is the currency of the united states, and its history is a story involving many countries in different continents. the word 'dollar' is much older than the us unit of currency. it originated from the german word'thaler' which was the name given to coins first minted in 1519 from locally mined silver in the joahimsthal mint in bohemia. later on, the english version of the name dollar was also aplied to similar coins, not only ones minted in central europe, but also the spanish peso, and the portuguese currency.
those coins, paticularly the spanish peso or dollar circulated widely in britain's north american colonies because of a shortage of official british coins. that is why, after the us gained its independence, the new nation chose'dollar' as the name of its currency, instead of keeping the pound. the coinage act of 1792 made the dollar, the basic unit of moneyy in the us. the first silver dollar was minted in 1794, and in 1900, the gold dollar was made the standard. however, the gold dollar is no longer circulated.
paper dollars were printed as early as 1775. both paper dollars and coins are issued by the department of treasury of the us.

No comments:

Post a Comment