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Line 1: − (Dollar redirects here; you may have been looking for [[Canadian Dollar]] or [[Australian Dollar]]) − The United States Dollar is the official currency of the United States. It is also widely used as a reserve currency outside of the United States. − − Until 1974, the value of the United States dollar was fixed to a value of a specified amount of a precious metal. Between the late 18th century and the late 19th century, the [[United States]] dollar was fixed to the value of either gold or silver in a system known as bimetallism. In the early 1970's, the [[trade deficit]] and [[inflation]] in the United States caused a run on the gold reserves used to back the United States dollar. This forced the United States to delink the value of the dollar from a specific amount of gold. Currently, the issuance of currency is controlled by the Federal Reserve Banking system. − − ==The Symbol== − One theory states that the dollar symbol $ is a corruption of the monogram of the initials U.S., and is often used in a derogatory fashion. Ayn Rand once said that "Do you know that the United States is the only country in history that has ever used its own monogram as a symbol of depravity? Ask yourself why. Ask yourself how long a country that did that could hope to exist, and whose moral standards have destroyed it." This statement would not be true if taken to mean that some US citizens used the monogram in a derogatory fashion, since that is, and has been, a common form of protest. − − According to the U.S. Bureau of Engraving and Printing, the most widely accepted origin for the dollar sign is that it evolved from <i>P's</i>, being used to represent Spanish or Mexican pesos, piastres, or "pieces of eight", which were common in the English colonies in North America. Over time the S was superimposed upon the P and this created a close approximation to the modern $.<ref>http://www.moneyfactory.gov/document.cfm/18/113</ref> − − ==The Design== − What differs the US from other nations to allow that kind of statement is its strong national heritage in which an act by one citizen is taken to be one of the whole nation. This is the reason that the Roman fasces often appears on United States currency. − − ==The Dollar Bill== − The Dollar Bill currently features George Washington. − − ==Dollar Coins== − − The United States Mint has produced dollar coins for circulation featuring:<ref>http://www.usmint.gov/mint_programs/circulatingCoins/index.cfm?action=CircDollar</ref> − *Dwight D. Eisenhower (made 1971-1978) − *Susan B. Anthony (1979-1981, 1999) − *Sacagawea (2000-present) − *U.S. Presidents - a series of dollar coins featuring the presidents in chronological order (2007-present) − − ==References== − <references/> − − [[Category:Currency]] − [[Category:Economics]]
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