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Fractional Currency (United States)
__NOTOC__ Fractional currency, also referred to as shinplasters, was introduced by the United States federal government following the outbreak of the Civil War. These low- denomination banknotes of the United States dollar were in use between 21 August 1862 and 15 February 1876, and issued in denominations of 3, 5, 10, 15, 25, and 50 cents across five issuing periods.Kravitz The complete type set below is part of the National Numismatic Collection, housed at the National Museum of American History, part of the Smithsonian Institution. History The Civil War economy catalyzed a shortage of United States coinage—gold and silver coins were hoarded given their intrinsic bullion value relative to irredeemable paper currency at the time.Anderson, p. 303.Reed, p. 298. In late 1861, to help finance the Civil War, the U.S. government borrowed gold coin from New York City banks in exchange for Seven-thirties treasury notesMitchell, 1903, pp. 27–32. and the New York banks sold them t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York City
New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the List of United States cities by population density, most densely populated major city in the United States, and is more than twice as populous as second-place Los Angeles. New York City lies at the southern tip of New York (state), New York State, and constitutes the geographical and demographic center of both the Northeast megalopolis and the New York metropolitan area, the largest metropolitan area in the world by urban area, urban landmass. With over 20.1 million people in its metropolitan statistical area and 23.5 million in its combined statistical area as of 2020, New York is one of the world's most populous Megacity, megacities, and over 58 million people live within of the city. New York City is a global city, global Culture of New ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fractional Currency Shield
A fractional currency shield is a printed "shield" on which is placed 39 different fractional currency notes. Produced in 1866 and 1867 by the Treasury Department, the shields were sold to banks for $4.50 each, for the purpose of having a genuine note available to use as a method of counterfeit detection. The 39 notes were printed from the original plates on one side only, the other side left blank, or with the printed word "specimen". The shields were typically framed by the purchaser and hung on the wall for the convenience of bank employees. Sales were reported to be $14,683.50. Notes appearing on the shields were from the first, second and third issues of Fractional Currency, of the five different issues made. Many were stored upright on the floor of the Currency Bureau (Department of Engraving and Printing), and during a flood suffered water damage, the water reaching approximately high. Undamaged shields are rare. It is unknown how many shields exist, but it is believed ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Notes
A United States Note, also known as a Legal Tender Note, is a type of paper money that was issued from 1862 to 1971 in the U.S. Having been current for 109 years, they were issued for longer than any other form of U.S. paper money. They were known popularly as "greenbacks", a name inherited from the earlier greenbacks, the Demand Notes, that they replaced in 1862. Often termed Legal Tender Notes, they were named United States Notes by the First Legal Tender Act, which authorized them as a form of fiat currency. During the early 1860s the so-called ''second obligation'' on the reverse of the notes stated: By the 1930s, this obligation would eventually be shortened to: They were originally issued directly into circulation by the U.S. Treasury to pay expenses incurred by the Union during the American Civil War. During the next century, the legislation governing these notes was modified many times and numerous versions were issued by the Treasury. United States Notes that we ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Legal Tender
Legal tender is a form of money that courts of law are required to recognize as satisfactory payment for any monetary debt. Each jurisdiction determines what is legal tender, but essentially it is anything which when offered ("tendered") in payment of a debt extinguishes the debt. There is no obligation on the creditor to accept the tendered payment, but the act of tendering the payment in legal tender discharges the debt. Some jurisdictions allow contract law to overrule the status of legal tender, allowing (for example) merchants to specify that they will not accept cash payments. Coins and banknotes are usually defined as legal tender in many countries, but personal cheques, credit cards, and similar non-cash methods of payment are usually not. Some jurisdictions may include a specific foreign currency as legal tender, at times as its exclusive legal tender or concurrently with its domestic currency. Some jurisdictions may forbid or restrict payment made by other than legal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Post Office Department
The United States Post Office Department (USPOD; also known as the Post Office or U.S. Mail) was the predecessor of the United States Postal Service, in the form of a Cabinet department, officially from 1872 to 1971. It was headed by the postmaster general. The Postal Service Act, signed by U.S. president George Washington on February 20, 1792, established the department. Postmaster General John McLean, in office from 1823 to 1829, was the first to call it the Post Office ''Department'' rather than just the "Post Office." The organization received a boost in prestige when President Andrew Jackson invited his postmaster general, William T. Barry, to sit as a member of the Cabinet in 1829. The Post Office Act of 1872 () elevated the Post Office Department to Cabinet status. During the American Civil War (1861–1865), postal services in the Confederate States of America were provided by the Confederate States of America Post-office Department, headed by Postmaster General John He ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Francis E
Francis may refer to: People *Pope Francis, the head of the Catholic Church and sovereign of the Vatican City State and Bishop of Rome *Francis (given name), including a list of people and fictional characters *Francis (surname) Places * Rural Municipality of Francis No. 127, Saskatchewan, Canada * Francis, Saskatchewan, Canada **Francis (electoral district) * Francis, Nebraska *Francis Township, Holt County, Nebraska * Francis, Oklahoma *Francis, Utah Other uses * ''Francis'' (film), the first of a series of comedies featuring Francis the Talking Mule, voiced by Chill Wills *''Francis'', a 1983 play by Julian Mitchell *FRANCIS, a bibliographic database * ''Francis'' (1793), a colonial schooner in Australia *Francis turbine, a type of water turbine *Francis (band), a Sweden-based folk band * Francis, a character played by YouTuber Boogie2988 See also *Saint Francis (other) *Francies, a surname, including a list of people with the name *Francisco (other) *Franci ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Treasurer Of The United States
The treasurer of the United States is an officer in the United States Department of the Treasury who serves as custodian and trustee of the federal government's collateral assets and the supervisor of the department's currency and coinage production functions. The current treasurer is Marilynn Malerba, who is the first Native American to hold the post. Responsibilities By law, the treasurer is the depositary officer of the United States with regard to deposits of gold, special drawing rights, and financial gifts to the Library of Congress. The treasurer also directly oversees the Bureau of Engraving and Printing (BEP) and the United States Mint, which respectively print and mint U.S. currency and coinage. In connection to the influence of federal monetary policy on currency and coinage production, the treasurer liaises on a regular basis with the Federal Reserve. However, the duty perhaps most widely associated with the treasurer of the United States is affixing a facsimile sign ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Philadelphia
Philadelphia, often called Philly, is the largest city in the Commonwealth of Pennsylvania, the sixth-largest city in the U.S., the second-largest city in both the Northeast megalopolis and Mid-Atlantic regions after New York City. Since 1854, the city has been coextensive with Philadelphia County, the most populous county in Pennsylvania and the urban core of the Delaware Valley, the nation's seventh-largest and one of world's largest metropolitan regions, with 6.245 million residents . The city's population at the 2020 census was 1,603,797, and over 56 million people live within of Philadelphia. Philadelphia was founded in 1682 by William Penn, an English Quaker. The city served as capital of the Pennsylvania Colony during the British colonial era and went on to play a historic and vital role as the central meeting place for the nation's founding fathers whose plans and actions in Philadelphia ultimately inspired the American Revolution and the nation's inde ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Spanish Dollar
The Spanish dollar, also known as the piece of eight ( es, Real de a ocho, , , or ), is a silver coin of approximately diameter worth eight Spanish reales. It was minted in the Spanish Empire following a monetary reform in 1497 with content 25.563 g = 0.822 oz t fine silver. It was widely used as the first world currency, international currency because of its uniformity in standard and milling characteristics. Some countries countermarked the Spanish dollar so it could be used as their local currency. Because the Spanish dollar was widely used in Europe, the Americas, and the Far East, it became the first world currency by the late 18th century. The Spanish dollar was the coin upon which the original United States dollar was based (at 0.7735 oz t = 24.0566 g), and it remained legal tender in the United States until the Coinage Act of 1857. Many other currencies around the world, such as the Japanese yen and the Yuan (currency), Chinese yuan, were initially based on the Span ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Currency Speculation
In finance, speculation is the purchase of an asset (a commodity, goods, or real estate) with the hope that it will become more valuable shortly. (It can also refer to short sales in which the speculator hopes for a decline in value.) Many speculators pay little attention to the fundamental value of a security and instead focus purely on price movements. In principle, speculation can involve any tradable good or financial instrument. Speculators are particularly common in the markets for stocks, bonds, commodity futures, currencies, fine art, collectibles, real estate, and derivatives. Speculators play one of four primary roles in financial markets, along with hedgers, who engage in transactions to offset some other pre-existing risk, arbitrageus who seek to profit from situations where fungible instruments trade at different prices in different market segments, and investors who seek profit through long-term ownership of an instrument's underlying attributes. His ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coin
A coin is a small, flat (usually depending on the country or value), round piece of metal or plastic used primarily as a medium of exchange or legal tender. They are standardized in weight, and produced in large quantities at a mint in order to facilitate trade. They are most often issued by a government. Coins often have images, numerals, or text on them. ''Obverse'' and its opposite, ''reverse'', refer to the two flat faces of coins and medals. In this usage, ''obverse'' means the front face of the object and ''reverse'' means the back face. The obverse of a coin is commonly called ''heads'', because it often depicts the head of a prominent person, and the reverse ''tails''. Coins are usually made of metal or an alloy, or sometimes of man-made materials. They are usually disc shaped. Coins, made of valuable metal, are stored in large quantities as bullion coins. Other coins are used as money in everyday transactions, circulating alongside banknotes. Usually the highest va ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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