United States Dollar dollar USD

The US dollar is the official currency of the United States. Dollars are widely used as a reserve currency outside of the US. The code for the US dollar is USD, but even this abbreviation is often shortened to $.

History of the US Dollar

The introduction of the dollar in the US took place in 1792. The dollar replaced currencies like the pound sterling and the Spanish dollar. The first US mints were established in 1792, and the coins minted were very similar in size and composition to the previous currency - the Spanish dollar.

In the early years of the US dollar, the currency was in coin form. Over time, paper banknotes were introduced, which were initially printed in a greenish color. The design of the paper US dollar changed several times, but the final design was adopted in the 1990s.

The US Dollar and Interesting Facts

The name "dollar" comes from the word "Joahimstaler," because the first coins were minted near the silver mines in Joachimsthal, in present-day Czech Republic. "Joahimstal" was quickly shortened to "Taler," and the Danes pronounced it as "Daler." Due to its easier pronunciation, the English started using the word as "Dollar." This pronunciation became widely accepted by the locals.

Dollars are also known by different nicknames. The word "Buck" comes from "buckskin," which was a key trading currency with the Native Americans living in the US. For this reason, the US dollar is often used as a slang term for currency.

Other countries, such as the British Virgin Islands, Ecuador, the Marshall Islands, Micronesia, Palau, Panama, East Timor, and El Salvador, also use the US dollar as their official currency.