In the interim, numerous banks, utilities, merchants, and even individuals issued their own bank notes and paper currency.
By the outbreak of the Civil War there were as many as 1,600 different kinds of paper money in circulation in the United States—as much as a third of it counterfeit or otherwise worthless.
George Washington appears on the $1 bill, Abraham Lincoln on the $5, up to Benjamin Franklin on the $100 bill.
These persons were selected because of their importance in history and the fact that their images are generally well known to the public.
This printing, which measures only 0.006-0.007 inches (0.15-0.18 mm) high, repeats the words "The United States of America." It appears on all paper money except the $1 bill.
In the United States, all paper money is engraved and printed by the Bureau of Engraving and Printing, which is part of the Department of the Treasury of the federal government.The Bureau also prints postage stamps, savings bonds, treasury notes, and many other items.The main production facility is located in Washington, D.Although the bill is still in circulation, it is rarely used, and therefore is rarely printed.Each bill, regardless of its denomination, costs the government about 3.8 cents to produce., when the Sumerians began using metal coins in place of bartering with barley.The use of paper money began in China during the seventh century, but its uncertain value, as opposed to the more universally accepted value of gold or silver coins, led to widespread inflation and state bankruptcy.By law, no portrait of a living person may appear on paper money. The first bills with this inscription were printed in 1957, and it now appears on the back of all paper money.In 1955, Congress passed a law requiring that the words "In God We Trust" appear on all U. Starting in 1990, very small printing, called microprinting, was added around the outside of the portrait.This early paper currency came in several different types, designs, and denominations, but had the common characteristic of being somewhat larger in size than today's money.It was not until 1929 that the current-sized bills went into circulation.