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Green Back Introduction
"Greenbacks" are introduced by congress in order to fund the civil war, they represent the first 5, 10, and 20 dollar bills -
10$ Demand Note
First demand note issued by the US federal government that could be redeemed for gold or silver. -
Authorization of Currency !(First Event)!
Congress authorizes a new currency class known as U.S State notes. These "notes" come in 1, 2, 5, 10, 20, 50, and 100$ increments. As a new currency, this is the first chain that led people to leave gold and utilize an easier form of money In the future, however not extremely used at first but led as a start to a chain of events. -
Counterfeit Deterrence
The U.S incorporates special design features in order to aid in counterfeit deterrence. The U.S incorporates this to this day. -
The Secret Service
Secret Service established to deter counterfeiters. -
Federal Reserve Act !(Second Event)!
Federal Reserve Act officially made the Federal Reserve the nations central bank to meet the nations fluctuating needs. Also issues new currency called Federal Reserve notes. As the currency became more widespread over the years it was necessary for more uniform money would be necessary so the Federal Reserve Act was devised as a way to meet fluctuations around the country. -
Intro of "Large Value Notes"
Federal Reserve issues larger value increments in 500, 1,000, 5,000, and 10,000$ denominations. -
Serial Numbers Included
Banknotes are given unique serial numbers. -
Standardization Change In Design
Banknote design greatly changed in order to lower manufacturing cost, including 30% smaller form, and design changes to allow the public to tell between counterfeit and real. -
Gold Certificate
Treasury of The United States issues 100,000 gold certificates to settle the larger value transactions. -
WWII Currency
Special certificates are printed to circulate only through Hawaii, in the case that if Hawaii was overrun they could declare the currency useless. -
Allied Military currency
BEP prints AMC for use by Allied Forces and prevents inflation. -
"In God We Trust"
The text "In God We Trust" was ruled to be necessary on all currency first appearing in 1957 series notes -
First ATM
Automated Teller Machines were first introduced in New York City allowing customers to retrieve money without needing to go to a bank. -
Currency and Gold !(Third Event)!
Congress prohibits redemption of currency for gold. After many years the U.S finally takes one of the last steps in switching to a more paper focused currency system, the Federal Reserve remains in place in order to stop counterfeitings effectiveness so that the system remains efficient. -
Currency Redesign
Currency redesign in order to prevent counterfeits -
Period: to
Redesign
All currencies redesigned in following years