The U.S. Dollar Is Older Than Shakespeare

The U.S. Dollar Is Older Than Shakespeare

From advisorperspectives.com

Brendan Greeley’s “The Almighty Dollar” is unlike any other book on the U.S. dollar ever written. Greeley starts his story of the dollar in 1518; the United States would not exist for another 258 years. Halfway through the book, he’s up to 1781. If you want to take a really deep dive into financial history and — more specifically — the history of currency, this is the book for you. Otherwise, it’s a diversion, in the best sense of something off the beaten track that is fun. It’s an intellectual journey that may not help with your investment decisions unless you’re curious about root causes of ... (full story)

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Radar1974

18 hr ago

The United States dollar has been used as the official currency of the United States for 234 years.

Key milestones in its development include:

Official Creation (1792): Congress passed the Coinage Act of 1792 on April 2, 1792, establishing the US dollar as the nation's standard unit of currency and creating the United States Mint.

Pre-1792 Colonial Use: Even before 1792, the word "dollar" was widely used across the 13 colonies. Colonists relied heavily on the Spanish silver dollar (the real de a ocho or "piece of eight"), which inspired the U.S. dollar system.

Paper Currency & Paper Dollars (1862): The federal government issued its first paper dollar bills (nicknamed "greenbacks") during the American Civil War to finance military operations. Global Reserve Currency (1944): Following the Bretton Woods Agreement near the end of World War II, the US dollar became the primary international reserve currency, anchored to gold.

Fiat Currency Shift (1971): President Richard Nixon formally severed the US dollar's direct convertibility to gold, transitioning it into a fully fiat, floating currency backed by the full faith and credit of the US government.