Saturday, September 26, 2009

U.S. Dollar


The word Dollar comes from a coin minted in 16th century Bohemia, called the "Thaler." The United States dollar was created in 1792, based upon the Spanish Milled Dollar. Since it's inception the U.S. Dollar has been defined as 24.057 grams of pure silver. Although, currently the U.S. dollar can only be redeemed for silver at that rate if the Secretary of the Treasury considers it appropriate.

During the 19th century Abraham Lincoln created demand note dollars to finance the Civil War for the north. The note was printed in black on the front and green on the back giving it the nickname "Greenback."

The U.S. Dollar is nicknamed "Coco" in Peru. Coco is a pet name for Jorge, referring to George Washington on the front of the 1 Dollar bill.

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