The History of Dollar, Since the 1500s.
The dollar, which is used not only by Americans but all over the world, is the defining point of the economy. Where did the $, which has more than 20 varieties, come about today?
Although not found by the Lydians, the dollar determines the strength of the world economy. The $, which is the currency used by America and many countries, first appeared in the 1500s. In today’s world, silver coins, known as the ancestor of the $, began to be used in Joachimsthal in the Kingdom of Bohemia in the Czech Republic. This silver coin, which started to be used in 1520, was issued under the name of Joachimsthaller. This coin, called thaller because of its long length, was translated into Norwegian, Swedish, Icelandic, daalder, Italian tallero, Polish talar, Persian dare and English $.
They Used the First Paper Money in 1690
The British were very interested in the discovery of the American continent and the gradual growth of the Spaniards at that time. The British colonies in North America decided to sign agreements with the Spaniards before gaining independence. As a result of this trade agreement, the British earned great income and gained their independence. Meanwhile, the British had to make a decision. Either they will use their own currency or the $ that the Spaniards use. To avoid further difficulties in trade, the British chose to use the $, and in 1690 they printed their first paper money.
By 1739, they started printing paper dollars with a landscape view in Benjamin Franklin’s printing house in Philadelphia. But these $ were printed in relief so that they were not counterfeited.
By 1785, the $ officially became the currency of the United States. With a decision made in 1792, $ began to be printed in the US mint.
The dollar became the official currency, but it was long before it started circulation in other countries. Until 1861. In 1861, the first US bank note went into circulation. All US banknotes printed since 1861 are also considered valid.
In 1913, the Federal Reserve Bank declared the Federal Reserve Bank, the American Central Bank, the country’s central bank. The bank also began to circulate new currencies called the Federal Reserve Banknotes. The $, which was printed at certain periods of 7 to 10 years to avoid fakes, was last published in 2010.
Where Is The Dollar Used As A Currency?
The dollar is the currency of many countries, especially the USA, Australia, Canada and New Zealand. The US $ is used in countries such as Ecuador, Marshall Islands, Zimbabwe, Palau, Micronesia, East Timor and El Salvador, while the Australian dollar is used in countries such as Nauru and Kiribati.