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For several decades, the color and style of the printed seal varied greatly from issue to issue (and even within the same issue). The basic seal was the same, but the circumferences were embellished with lathework decoration such as scallops, beading, or spikes. Among the colors used for the seal during this period were red, blue, and brown. [7]
The U.S. government decided to substitute paper currency of denominations under a dollar for coins in order to solve the problem. The denominations issued were 3¢, 5¢, 10¢, 15¢, 25¢ and 50¢. There were five issues of fractional currency.
The federal government began issuing paper currency during the American Civil War. As photographic technology of the day could not reproduce color, it was decided the back of the bills would be printed in a color other than black. Because the color green was seen as a symbol of stability, it was selected. These were known as "greenbacks" for ...
The Comprehensive Catalog of U.S. Paper Money: All United States Federal Paper Money Since 1812 (7th ed.). BNR Press. ISBN 9780931960666. National Monetary Commission (1910). Laws of the United States concerning money, banking, and loans, 1778–1909. Government Printing Office
The number of Demand Notes issued was far insufficient to meet the war expenses of the government but even so was not supportable. The solution came from Colonel Edmund Dick Taylor, an Illinois businessman who was serving as a volunteer officer. Taylor met with Lincoln in January 1862 and suggested issuing unbacked paper money. [7]
Michelle Singletary writes the nationally syndicated news column "The Color of Money", featured in The Washington Post. She is an award-winning journalist and an expert in personal finance, with ...
The newer designs, with portraits displayed in the main body of the obverse (rather than in cameo insets), upon paper color-coded by denomination, are sometimes referred to as bigface notes or Monopoly money. [citation needed] Piastre was the original French word for the U.S. dollar, used for example in the French text of the Louisiana Purchase.
MPC were paper money initially denominated in amounts of 5¢, 10¢, 25¢, 50¢, $1, $5, and $10. A $20 note was added in 1968, during US involvement in the Vietnam War . Unlike US currency, which is issued by the Department of the Treasury , these MPC were issued under the authority of the Department of War (later Department of Defense) .