U.S. five-dollar bill

From Academic Kids

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US__obverse.jpg
Obverse of the $5 bill
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Reverse of the $5 bill

The U.S. five dollar bill ($5) is a denomination of United States currency. U.S. President Abraham Lincoln is currently featured on the front side of the bill, while the Lincoln Memorial is featured on the reverse side.

The $5 bill is sometimes nicknamed a fin, although this usage is far less common today than it was in the early 20th century.

The Bureau of Engraving and Printing says the "average life" of a $5 bill in circulation is 24 months before it is replaced due to wear. Approximately 12% of all notes produced today are $5 bills.

Five dollar bills are delivered by Federal Reserve Banks in red straps.

Contents

Large Size Note History

  • 1861: The first $5 bill was printed as Demand Note with a small portrait of Alexander Hamilton on the right of the obverse.
  • 1862: The first $5 United States Note was printed with a face design similar to the previous Demand Note and a revised back side.
  • 1869: A new $5 United States Note was printed with a small portrait of Andrew Jackson on the left side of the front of the bill.
  • 1870: National Gold Bank Notes were issued specifically for payment in gold coin by participating banks. The back of the bill featured a picture of US gold coins.
  • 1886: The first $5 silver certificate was issued with a portrait of Ulysses S. Grant on the front and five Morgan silver dollars on the back.
  • 1890: Five dollar Treasury or "Coin Notes" were issued and given for payment of silver bullion by the government.
  • 1896: The famous "Educational Series" Silver certificate was issued. The entire front was covered with artwork and the back featured portraits of Ulysses Grant and Phillip Sheridan. Serial numbers, treasury seal and treasury official's signatures were all present on the front like normal.
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Famous 1896 $5 "Educational Series" Silver Certificate
  • 1899: A new $5 silver certificate with a portrait of Running Antelope on the face was issued.
  • 1914: The first $5 Federal Reserve Note was issued. It originally had a red seal and serial numbers; however, the seal and serial numbers were changed to blue for the remainder of the series.
  • 1915: Federal Reserve Bank Notes (not to be confused with Federal Reserve Notes) were issued by 5 individual Federal Reserve banks. Each note could only be redeemed by the bank of issue.
  • 1918The 1915 Federal Reserve Bank Note was re-issued under series 1918 by 11 Federal Reserve banks.
  • 1923 The $5 silver certificate was redesigned; it was nicknamed a "porthole" note due to the circular wording of THE UNITED STATES OF AMERICA around Lincoln's portrait.


Small Size Note History

  • 1929: Under Series of 1928, all small-sized notes carried a standardized design. All $5 bills would feature a portrait of Lincoln, the same border design on the front, and the Lincoln Memorial on the back. The $5 bill was issued as a United States Note (with red serial numbers and seal) and as a Federal Reserve Note (with green serial numbers and seal).
  • 1933: As an emergency response to the Great Depression, additional money was pumped into the American economy through Federal Reserve Bank Notes. This was the only small-sized $5 bill that had a different border design. The serial numbers and seal on it were brown.
  • 1934: The first $5 small-sized silver certificates were issued with a blue seal and serial numbers.
  • 1934: The redeemable in gold clause was removed from Federal Reserve Notes.
  • 1942: Special World War II currency was issued. HAWAII was overprinted on the front and back of the $5 Federal Reserve Note, and the seal and serial numbers were changed to brown. This was done so that the currency could be declared worthless if there was a Japanese invasion. A $5 silver certificate was printed with a yellow instead of blue treasury seal; these notes were for U.S. troops in North Africa. These notes, too, could be declared worthless if seized by the enemy.
  • 1950: The gray word "FIVE" and Treasury seal imprinted over it were made smaller to their current size. Also, the Federal Reserve seal had scalloping (points) added around it.
  • 1953: New $5 United States Notes and Silver Certificates were issued with a gray numeral 5 on the left side of the bill and the gray word FIVE with the tresury seal imprinted over it on the right.
  • 1963: Both the $5 United States Note and Federal Reserve Note were revised with the motto IN GOD WE TRUST added onto the back of the note and WILL PAY TO THE BEARER ON DEMAND removed from the front of the note.
  • 1967: Production of the $5 United States Note ends.
  • 1990: The first new-age anti-counterfeiting measures were introduced with microscopic printing around Lincoln's portrait and a metallic security strip on the left side of the bill.
  • May 24 2000: To combat evolving counterfeiting, a new $5 bill was issued under series of 1999 whose design was similar in style to the $100, $50, $20, and $10 that had all undergone previous design changes. The $5 bill, however, does not feature color-shifting ink like all the other denominations.
  • As of 2005, there are no current plans to change the $5 bill from its current design.

External link

References

Standard Catalog of United States Paper Money 17th edition published by Krause Publications


United States currency and coinage
Topics: Federal Reserve note | United States Notes | United States coinage | United States dollar
Currency: $1 | $2 | $5 | $10 | $20 | $50 | $100 | Larger denominations
Coinage: Cent | Nickel | Dime | Quarter | Half-dollar | Dollar
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