-
Period: 9000 BCE to 6000 BCE
Cattle
Cattle, which throughout history and across the globe have included not only cows but also sheep, camels, and other livestock, are the first and oldest form of money. People also used Agriculture and farming to barter. -
1200 BCE
Cowrie Shells
The first use of cowries, the shells of a mollusc that was widely available in the shallow waters of the Pacific and Indian Oceans, was in China. Historically, many societies have used cowries as money, and even as recently as the middle of this century, cowries have been used in some parts of Africa. The cowrie is the most widely and longest used currency in history -
1000 BCE
First Metal Money/Coins
Metal tool money, such as knife and spade monies, was also first used in China. These early metal monies developed into primitive versions of round coins. Chinese coins were made out of base metals, often containing holes so they could be put together like a chain. -
500 BCE
Modern Coinage
Outside of China, the first coins developed out of lumps of silver. Unlike Chinese coins which depended on base metals, these new coins were made from precious metals such as silver, bronze, and gold, which had more inherent value. -
States and Coins
The Articles of Confederation give States the authority to strike their own coins. -
Treasury Seal
A Committee is selected to design the Treasury Seal (found on U.S. money). Much of the original design is still used today and is part of the Mint Seal. -
Silver Dollar
The Grand Committee of the Continental Congress decides that the unit of American money will be the silver dollar, with all coins in a decimal ratio to each other. -
National Mint
Congressional legislation creates a national mint "at the seat of the government of the United States," and regulates coinage. It authorizes the Mint to make coins of gold (Eagles, Half Eagles and Quarter Eagles), silver (Dollars, Half Dollars, Quarter Dollars, Dimes, and Half Dimes), and copper (Cents and Half Cents). -
Treasury Burned
The Treasury Department is burned by the British. -
First Steam Press
The first steam press is put in place, increasing the speed of coin production. -
Legal Tender from 1862 to 1971
A United States Note, also known as a Legal Tender Note, was a type of paper money that was issued from 1862 to 1971 in the U.S. Having been current for over 100 years, they were issued for longer than any other form of U.S. paper money. They were known popularly as "greenbacks" in their day, a name inherited from the Demand Notes that they replaced in 1862. -
"In God We Trust"
Congressional legislation restores the motto, "In God We Trust" to the coins of the United States. -
First 10$ Notes Issued
The first $10 Federal Reserve notes are issued. These notes are larger than today’s notes and feature a portrait of President Andrew Jackson on the face. -
Starting of Issuing Large Currency
In 1918, the Federal Reserve Board begins issuing currency in $500, $1,000, $5,000, and $10,000 denominations. -
$1 bills produced
Since the early 1920s, silver certificates were issued in $1, $5, and $10 denominations. In the 1928 series, only $1 silver certificates were produced. First small-sized $1 bill which was issued in 1928 as a silver certificate -
First Minor Coins
The first minor coins bearing the date "1965" are struck: the five-cent cupro-nickel and bronze one-cent coins -
End of Issued Large Banknotes
On July 14, 1969, the Federal Reserve and the U.S. Department of the Treasury announced that banknotes in denominations of $500, $1,000, $5,000, and $10,000 would be discontinued due to lack of use. Although they were issued until 1969, they were last printed in 1945. -
New Design of Counterfeit Deterrent
In the first significant design change since the 1920s, U.S. currency is redesigned to incorporate a series of new counterfeit deterrents. Issuance of the new banknotes begins with the $100 note in 1996, followed by the $50 note in 1997, the $20 note in 1998, and the $10 and $5 notes in 2000. -
Period: to
Redesign of the Note
Redesigning of bills to help detect Counterfeit.
2003 - Redesigned $20
2004 - Redesigned $50
2006 - Redesigned $10
2008 - Redesigned $5
2013 - Redesigned $100
