In the United States, the official currency is the U.S. dollar. There are over 20 currencies that are named dollar that are used throughout the world in nations including New Zealand, Liberia, and Hong Kong. However, these currencies are different from the U.S. dollar.
The U.S. dollar is divided into 100 cents. The U.S. dollar was adopted in the late 18th century. Previously, the Spanish dollar was used. The U.S. Secretary of State, Alexander Hamilton, used the amount of silver in a Spanish dollar to define the U.S. dollar. Each U.S. dollar coin contained pure silver weighing slightly over 24 grams. Throughout the 19th century, non-silver metals were added to replace pure silver.
Today, coins valued at one U.S. dollar are still in circulation, but most dollars are issued as paper bills. Bills are available in denominations of $1, $5, $10, $20, $50, and $100. Larger bills were circulated by the Treasury into the late 1960s.
The U.S. dollar isn’t just the official currency of the United States. It is the official currency of several other countries and territories, including:
Federated States of Micronesia