The History of Paper Currency in the United States

Main

1775 - Paper Currency was issued to finance the Revolutionary War.

1775

1781 - Nation's First "Real" Bank was chartered in Philadelphia.

1781

The name of the first "real" bank was The Bank of North America.

1785 - Congress adopted the dollar as the money unit of the United States

1785

1791 - The first bank of the United States began issuing paper bank notes.

1791

1861 - U.S. Treasury began to issue paper money for the 1st time.

1861

These notes were in the form of Treasury Notes known as Demand Notes.

1863 - Congress established a national banking system.

1863

1865 - Gold certificates were issued by the Department of the Treasury.

1865

1865 - United States Secret Service was established to control counterfeiting.

1865

1877 - The Bureau of Engraving & Printing begins printing all U.S. currency.

1877

1913 - Federal Reserve System was created as the Nation's Central Bank.

1913

1914 - The first $10 Federal Reserve notes were issued

1914

1929 - Currency was reduced in size by 25%.

1929

1929 - Currency became standardized in appearance.

1929

Standardization included uniform portraits on the faces, emblems & monuments on the backs of the bill.

1957 - In God We Trust first appeared on the $1 Silver Certificates.

1957

1990 - Security thread & microprinting were introduced on both $50 & $100 bills.

1990

Microprinting & security threads were used to deter counterfeiting.

1996 - Newly redesigned $100 bill was introduced.

1996

Additional security features (watermarks,etc.) were added to the $100 bill.

1997 - New $50 bill was introduced.

1997

1998 - Newly redesigned $20 bill was introduced.

1998

2000 - Newly redesigned $10 bill was introduced

2000

2000 - Newly redesigned $5 bill was introduced.

2000

2003 - Secret Service was integrated into the Department of Homeland Security.

2003