Features Of A Dollar Bill

 

Features Of A Dollar Bill
by Rob Cottignies

The most common piece of paper currency in our wallets has a surprisingly complex history.

Introduced in 1862 to fund the Civil War effort, a dollar bill’s size was originally seven square inches larger than it is now. The design underwent many changes until the parameters were made uniform in 1928.

The first one-dollar bill featured a portrait of Salmon P. Chase, then-Secretary of the Treasury under President Abraham Lincoln. Seven years later, Chase’s depiction was replaced by that of George Washington, America’s first president and important guide to forming the country.

(Had you heard of Salmon Chase before reading this article? If so, did you think it was a kids’ game involving fish?)

The first design with Washington also featured a scene of Christopher Columbus in a rare moment when he was not exploiting, abusing, or murdering Native Americans.

Some other general modifications included adding and removing colors and words, different designs, and portraits of Lincoln, Martha Washington, and Ulysses S. Grant.

A fun story:

In 1864, National Currency Bureau superintendent Spencer Clark was asked to portray explorer William Clark (of Lewis & Clark) and/or Comptroller Freeman Clarke on a note.

By narcissism or ignorance, Spencer saw the person’s surname on the request and promptly added his own likeness to American currency.

Two years later, an outraged Congress passed a law stating no living person can be shown on any paper or metal money, deeming the depiction of somebody who is still around to be unpatriotic.

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Currently, paper money is more like clothing fabric than paper, being 75% composed of cotton with linen comprising the rest. The ink is a ferrofluid, which is mildly magnetic and an important feature to prevent forgery.

While higher-denomination notes contain various anti-forgery designs, the one-dollar bill has remained largely unaltered.

(If you were to produce counterfeit money, why would you focus on a dollar bill?)

The Bureau Of Engraving & Printing is responsible for physically printing paper currency. Its facilities in Washington, D.C., and Fort Worth, Texas, manufacture all of America’s (legal) cash.

The United States Mint produces coins and is headquartered in Washington, D.C. This entity oversees production facilities in Denver, Philadelphia, San Francisco, and West Point in New York. The U.S. Bullion Depository located in Fort Knox, Kentucky, contains an enormous amount of gold and is also under the umbrella of the Mint. This gold provides the backbone of currency, the bills by themselves being worthless.

Important to note is that a Federal Reserve Bank is one of 12 institutions accountable for issuing currency for its geographic area based on need and other factors. In order of numbers (explained later), the cities that cover these regions are Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, Saint Louis, Minneapolis, Kansas City, Dallas, and San Francisco. These also oversee common banks and similar money-related organizations.

Below are pictures of a sample American one-dollar bill followed by explanations of the circled features.

*GENERAL FEATURES*

Why is the dollar bill colored that way?
Off-white is the natural color of the paper. In addition to being a ferrofluid, the ink is green simply because that was the most abundant color when (and since) mass printing began.

The number 13
Sets of 13 are “hidden” on both sides of the dollar bill, such as on the reverse side’s pyramid with 13 levels and the symbolic eagle holding 13 arrows underneath 13 stars. This number represents the original British colonies.

Federal Reserve Note

This phrase ensures the bill was authorized by a Federal Reserve Bank.

‘This note is legal tender for all debts, public and private’

The bill is official currency and legally must be accepted by creditors (but not necessarily private businesses) in any cash transaction. To clarify, a bank (creditor) must accept physical currency but an airline (private business) can refuse cash for on-board purchases.

‘F’ in circular seal / Two sixes on each side

These two features tell us which Federal Reserve Bank issued the bill.

Our sample dollar is from the region covered by Atlanta. Looking at the list explaining Federal Reserve Banks above, you will see Atlanta is the sixth city mentioned. The ‘F’ within the circular seal is the sixth letter of the alphabet. ‘6’ is displayed multiple times as a deterrent from forgery.

J3 / J146

These numbers signify the bill’s position on the sheet when printed and the plate used to print it, respectively.

F76767986I

The first character in this serial number is ‘F’, the same as the letter in the circular seal denoting the bill was issued in Atlanta. The numbers keep track of the order this note was printed in its series year. The ‘I’ at the end also signifies the bill’s place in the sequence, with the letter being replaced by a star if there was some sort of printing error.

Series 2013

This series of bill design (specifically the signatures) was begun in 2013 but the note itself may have been printed that year or any after.

Signatures- Treasurer, Secretary of Treasury

On our sample bill, the Treasurer was Rosa Gumateoteo Rios and the Secretary of the Treasury was Jacob Lew.

The Treasurer oversees the Mint and Bureau Of Engraving & Printing and typically acts as an advisor to the Secretary of the Treasury, who is a member of the president’s Cabinet, advising him (or someday her) on economic issues such as defense spending and tax policies.

As of February 2021, there has been no Treasurer since Jovita Carranza left the position in January 2020. The current Secretary of the Treasury is Janet Yellen, the first woman to hold that position.

The Great Seal of the United States

This design was developed, with help from others, by secretary of the Continental Congress Charles Thomson and adopted as the official seal of the U.S. in 1782. It was made a feature of the dollar bill in 1935 by President Franklin D. Roosevelt.

The seal is presented with the reverse (back) on the left of the dollar and the obverse (front) on the right.

The reverse side of the seal displays a pyramid with its top “floating” above the rest. Inspired by the Egyptian pyramids, this symbolizes strength and longevity.

The piece above most of the pyramid is the Eye Of Providence, a symbol representing the Holy Trinity and meaning God is watching over Americans.

Annuit Cœptis is Latin for ‘Providence has favored our undertakings’.

Novus Ordo Seclorum is Latin for ‘A new order for the ages’.

MDCCLXXVI is ‘1776’ in Roman numerals, representing the year the United States declared independence from England.

The obverse side features a bald eagle, the national bird of the United States. The olive branch in its right talon and arrows in its left suggest peace and war, respectively. The shield on the eagle’s chest is an adaptation of the American flag. The ribbon in the bird’s mouth reads E Pluribus Unum, which is Latin meaning ‘From many, one’.

In God We Trust

This national motto of the United States first appeared on paper currency in 1957, two years after the law mandating it was enacted. It had appeared on coins during the Civil War but was not required.

57

Fronts and backs are printed by different machines, so this number identifies the plate used.

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Hopefully, this list of explanations will spur your interest in everyday things. It has already helped me with a Jeopardy response about the Eye of Providence. (To brag a little, none of the contestants got it.) Maybe one day, the lists on this blog will help you and/or me on the actual show.

Enjoy!

 

Thanks to these websites for aiding my research:
Google.com, Howstuffworks.com, Wikipedia.org, LittletonCoin.com, uwaterloo.ca, federalreserve.gov, usmint.gov, mentalfloss.com, coinworld.com