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“Money never remains just coins and pieces of paper. Money can be translated into the beauty of living, a support in misfortune, an education, or future security.” (Sylvia Porter)

The history of U.S. currency and the many distinguished individuals that have been featured on them is a long and winding road that perhaps only a numismatist (a person who studies or collects currency) would be willing to travel down. The U.S. dollar was created as the official U.S. currency in April 1792. With the country ever-evolving, the general public has taken interest on the people they'd like to see represented on their money. New designs are being considered for U.S. paper bills to represent a wider breadth of historical symbols and figures that have helped define America.

The person with the final say over whose faces are on every U.S. bill is the secretary of the Department of Treasury. But the exact criteria for deciding who appears on our paper currency, save for one glaring detail, are unclear. The Treasury Department says only that it considers "persons whose places in history the American people know well." Federal law prohibits any living person's face from appearing on currency. States the Treasury Department: "The law prohibits portraits of living persons from appearing on Government Securities."

Other possible currency changes include gold and silver coins of the American bald eagle as well as images of Martin Luther King Jr.'s "I Have a Dream" speech, Marian Anderson's 1939 opera concert and a portrait of Eleanor Roosevelt on the reverse side of the new $5 bill. The Treasury also announced suffragists Lucretia Mott, Sojourner Truth and Susan B. Anthony are expected to be featured on the reverse side of the $10 bill. Below is information about our currency today

$1 Bill - George Washington  It wasn't until the Federal Reserve Act of 1913 that currency became standardized for the country's economic stability. By then much of the design components of the $1 bill were already set in place — its color, borders, phraseology — as they had long been in use. As one of the oldest U.S. currency designs still being used today, the $1 bill features an image of George Washington (based on Gilbert Stuart's Athenaeum Portrait) on the frontage, while the reverse shows the Great Seal of the United States. The design of the former was introduced in 1963, while the latter dates back to 1935 and was used primarily for the purpose of avoiding counterfeits. This front and back version was used when the $1 bill changed from being issued as a Silver Certificate to an official Federal Reserve Note.

$2 Bill - Thomas Jefferson President Thomas Jefferson's face is used on the front of the $2 bill, but that wasn't always the case. The nation's first Treasury secretary, Founding Father Alexander Hamilton, was the first person to appear on the bill, which was first issued by the government in 1862. Jefferson's face was swapped in 1869 and has appeared on the front of the $2 bill since then.

$5 Bill - Abraham Lincoln Before Abraham Lincoln's portrait first debuted on the $5 bill in 1914, seven other men secured a transitory spot on the denomination, ranging from Alexander Hamilton to Chief Onepapa to James Garfield. Starting in 1928, Lincoln has been the face of the bill, which features the Lincoln Memorial on the reverse side. The bill's most current image of Lincoln is based on Mathew Brady's portrait of the president in 1864. In 2008 the $5 bill debuted its new high tech redesign. Its new front includes the use of the color purple, an imprint of The Great Seal of the United States to the right of Lincoln's face and a band of stars. On the back, the bold purple "5" watermark at the bottom right stands most conspicuously along with a sprinkle of yellow 5s to the top right among its security features.

$10 Bill - Alexander Hamilton Prior to Alexander Hamilton being featured on the $10 bill, a variety of notable figures predated his famous face, including politician Daniel Webster, explorers Meriwether Lewis and William Clark, and President Andrew Jackson. But starting in 1929, Hamilton became the statesman of choice, and the imprinted portrait you see of him today is based on an 1805 painting by John Trumbull. As the nation's first Treasury Secretary, Hamilton is one of two non-presidents to be featured on U.S. paper currency (the other is Benjamin Franklin).

While Hamilton's portrait is seen on the face, the reverse shows the U.S. Treasury Building. Although a great deal of new technology such as watermarks and color-shifting ink have been added to the $10 bill, the biggest announcement came in 2015, when it was announced that a female figure would replace Hamilton as the new face of the denomination in 2020. However, due to the popularity of Broadway's musical Hamilton, the government reversed its decision and has kept Hamilton on the bill.

$20 Bill - Andrew Jackson For a man who wanted to abolish paper money, President Andrew Jackson would've found it quite ironic that his face sits on the $20 bill — let alone any bill for that matter. While he is seen on the denominations front side, adorned with watermarks and green and peach hues, the White House is imprinted on the backside.

$20 Bill Harriet Tubman The federal agency responsible for printing the seven denominations, however, was planning to reintroduce a woman to a U.S. bill for the first time in a century. The Department of Treasury announced in 2016 it was planning to bump Jackson to the back of the $20 bill and place the face of Harriet Tubman, the late abolitionist and former slave, on the front of the currency in 2020 to coincide with the 100th anniversary of the 19th Amendment to the Constitution, which acknowledged and guaranteed the right of women to vote.

Then-Treasury Secretary Jacob J. Lew wrote in announcing the plans in 2016: "The decision to put Harriet Tubman on the new $20 was driven by thousands of responses we received from Americans young and old. I have been particularly struck by the many comments and reactions from children for whom Harriet Tubman is not just a historical figure, but a role model for leadership and participation in our democracy.

$50 Bill - Ulysses S. Grant Starting in 1913, Civil War hero and 18th President of the U.S. Ulysses S. Grant has been the face of the $50 bill. While many wonder why Grant was chosen to be on this particular denomination, no one really knows the answer. The reverse side of Grant's portrait features the U.S. Capitol, although earliest iterations included images of Panama, a merchant and a battleship. On both sides of the bill, blue and red colors have been added and microprinted words such as "Fifty" and "USA" surround Grant's face, along with a watermark of the American flag to the right of him.

$100 Bill - Benjamin Franklin Founding Father, inventor and diplomat Benjamin Franklin served under many titles, but U.S. president he was not. Still, along with Hamilton, Franklin was able to grace one of the most desirable of denominations despite never reaching the highest office in the land, starting in 1914. A massive redesign in 2009 resulted in Franklin's portrait featured to the left of a quill pen, inkwell and the Declaration of Independence, along with holographic watermarks and black-light technology. The reverse side presents an image of Independence Hall in Philadelphia — the first building outside of Washington D.C. to be seen on any denomination.

$500 Bill - William McKinley President William McKinley's face appears on the $500 bill, which is no longer in circulation. The $500 bill dates to 1918 when Chief Justice John Marshall's face initially appeared on the denomination. The Fed and Treasury discontinued the $500 bill in 1969 for lack of use. It was last printed in 1945, but the Treasury says Americans continue to hold the notes. McKinley is noteworthy because he is among the few presidents who were assassinated. He died after being shot in 1901.

$1,000 Bill - Grover Cleveland President Grover Cleveland's face appears on the $1,000 bill, which like the $500 bill dates to 1918. Hamilton's face initially appeared on the denomination. The Fed and Treasury discontinued the $1,000 bill in 1969. It was last printed in 1945, but the Treasury says Americans continue to hold the notes.

$5,000 Bill - James Madison President James Madison's face appears on the $5,000 bill, and always has since the denomination was first printed in 1918. The Fed and Treasury discontinued the $5,000 bill in 1969. It was last printed in 1945, but the Treasury says Americans continue to hold the notes.

$10,000 Bill - Salmon P. Chase Salmon P. Chase, a onetime Treasury secretary, appears on the $10,000 bill, which was first printed in 1918. The Fed and Treasury discontinued the $10,000 bill in 1969. It was last printed in 1945, but the Treasury says Americans continue to hold the notes. Chase, who served in the Lincoln administration, is perhaps the least known of the faces on U.S. bills. He was politically ambitious, having served as a U.S. senator and governor of Ohio and set his sights on the presidency in 1860. He unsuccessfully sought the Republican Party's nomination that year; Lincoln won and, upon election, tapped his former rival to be Treasury secretary.

Chase was described as an able manager of the nation's finances, but he quit the job after clashing with the president. Wrote Lincoln upon accepting Chase's resignation: “You and I have reached a point of mutual embarrassment in our official relation which it seems cannot be overcome, or longer sustained.”

Of Chase, historian Rick Beard wrote in The New York Times: "Chase’s failings lay in his aspirations, not his performance. Convinced he was the ablest man in the cabinet, he also believed he was Lincoln’s superior as both an administrator and statesman. His dream of occupying the White House never deserted him, and he sought to further his ambitions in ways small and large. Responsible for the design of paper currency, for example, he had no compunction about placing his own face on the $1 bill. After all, he told one confidant, he had placed Lincoln’s on the 10.

$100,000 Bill - Woodrow Wilson Yes, there is such a thing as a $100,000 bill. But the denomination, known as a "gold certificate," was used only by Federal Reserve Banks and was never circulated among the general public. In fact, the $100,000 was not considered legal tender outside of those Fed transactions. If you're holding onto one, chances are its worth more than $1 million to collectors. You'll recognize the six-digit denomination because it has the face of President Woodrow Wilson on it.

 “Credibility is a leader's currency. With it, he or she is solvent; without it, he or she is bankrupt.” (John C. Maxwell) [i]

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[i] Sources used:

·       “The Faces on Every US Bill” by Tom Murse

·     “Which Historical Figures Are on U.S. Money?” by Eudie Pak

 

 

 

 

 

 

 

 

 

 

This topic was suggested by my friend and blog member, Jan Bahr.

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