Penny for Your Thoughts: Try This U.S. Currency Quiz

After the surprise bombing of Pearl Harbor, the future of Hawaii as a U.S. territory was uncertain. The Federal Reserve issued special notes with “HAWAII” printed twice on the front and once on the back. If the islands fell, the special currency would be declared worthless by the U.S. government, preventing the Japanese from using any American dollar bills seized from Hawaii. The Pacific islands became a state in 1959.

In 1914, the newly-established Federal Reserve issued $20 bills depicting a profile image of Grover Cleveland, the 22nd and 24th U.S. President. After standardizing a new currency design that made all bills about 30% smaller in 1929, the portrait on the $20 was changed to Andrew Jackson. No one is sure why this happened, as Treasury records from the time don’t include a clear reason for the switch.

The production of paper currency is handled by the U.S. Bureau of Engraving & Printing (BEP) at its two printing facilities in Washington, D.C., and Fort Worth, Texas. Since 1879, American bills have been printed on special paper made only for the BEP by a single company in Massachusetts. The proprietary blend of cotton and linen that includes red and blue fibers distributed randomly throughout is illegal to possess for anyone outside the BEP.

Half-dollar coins aren’t common today but have been produced by the government almost continuously since 1794. Earlier designs featured the Statue of Liberty on one side and an eagle on the other. In 1948, a new 50-cent piece featuring Benjamin Franklin was released. In 1964, the Mint permanently switched the half-dollar design to President John F. Kennedy to honor his legacy.

Thanks to the many different kinds of money issued by states, private banks, and the government itself, by the Civil War an estimated one-third of the U.S. circulation was counterfeit. To combat the issue, the Treasury Department established the Secret Service. After President William McKinley’s assassination in 1901, the agency took on the task they’re known for today: protecting government leaders.

Martha Washington appeared on the front of the $1 Silver Certificate, which was issued between 1886 and 1957. She is the only woman to appear solo as the primary image on paper currency. The first woman to officially make an appearance on U.S. paper currency was Pocohontas, who graced the back of the $20 bill from 1865 to 1869 and again in 1875.

Thought to be the earliest currency minted in America and designed by Benjamin Franklin, the Continental dollar features a sundial with the Latin phrase “fugio” — implying "time flies, so mind your business” — on one side, and on the reverse side, 13 rings are joined together to represent unity among the original colonies. Early versions of the coins were made out of pewter, silver, and brass. Legislative delays and a silver shortage rendered these coins almost worthless by 1776.

Coins in the U.S. are produced by the U.S. Mint. They are made out of long sheets of metal that are unspooled then punched and stamped by machines. Employees of the Mint inspect the coins to catch defects or impurities, and then count and weigh them before being distributed to Federal Reserve banks. The average lifespan of a coin is 30 years before it becomes too worn to use. The coins are then melted and repurposed for other things.

You might imagine that paper currency would be made from standard paper, but it is actually composed of 75% cotton and 25% linen. In fact, in 2009 alone the U.S. used over 20,000 bales of cotton to print new currency.

We’re used to seeing American Presidents’ faces on U.S. currency, but when the now-discontinued $10,000 bill began circulating in 1928, it bore the likeness of Salmon P. Chase, a 19th-century politician who served as Chief Justice of the United States and Abraham Lincoln's first secretary of the treasury. Today, Chase is still relevant in the financial industry — as the namesake of Chase Bank.

The first official $1 bill from the Federal Reserve was issued in 1963. The bill’s design today is largely the same as its original version, featuring president George Washington on one side and the Great Seal of the United States – which consists of an eagle and an unfinished pyramid topped by the Eye of Providence – on the other. As of 2017, there were more than 12 billion $1 bills in circulation.

In the 19th century, early counterfeiters would either pass off photographs of currency as legitimate, or they would change a bill's dollar amount by scratching off the faded ink. Green ink prevented this, as it wouldn't fade easily, and the era's black-and-white cameras couldn't duplicate the green ink of genuine currency.

As a general during the Civil War, Ulysses S. Grant was instrumental in helping the Union secure victory at Appomattox in 1865, and became our 18th President four years later. The first official version of the $50 bill was issued in 1914, shortly after the Federal Reserve Act of 1913 standardized the printing of U.S. currency. The bill has changed the design a few times over the years, most recently in 2004 with additional anti-counterfeit elements.

During his presidency, Theodore Roosevelt took an interest in refreshing the design of American currency. In 1909, Abraham Lincoln became the first President to appear on a U.S. coin. The famous side profile bust design, created by Victor David Brenner, is still in use today. Though some have called for the penny to be discontinued thanks to inflation cratering its value, there are still billions in circulation.

The first five-cent coins made of nickel went into circulation in 1866, featuring a stars-and-stripes pattern that was difficult to produce and derided by the public. A few other designs were tried out before the “buffalo nickel” was created in 1913 by sculptor James Earle Fraser. The stately image of Thomas Jefferson in profile appeared in 1938, five years before Jefferson’s bicentennial birthday.

While the Bureau of Engraving and Printing (BEP) formerly printed bills up to $10,000, it stopped printing them in 1945 and stopped issuing them in 1969. It now only prints bills as high as $100. However, any large denomination bills issued after 1861 are still considered legal tender, and many are still in circulation today.

World War II changed a lot about American life — even the pocket change. Traditionally, pennies had been made of copper, but the U.S. government needed all the copper it could get in 1943, as it was the key ingredient in the shell casings and munitions. For just one year, the U.S. Mint made pennies out of steel coated with zinc. Many of these steel pennies are still in circulation today.

Often referred to as the Fed, the Federal Reserve System was created in 1913 when President Woodrow Wilson signed the Federal Reserve Act. The Fed's purpose is to supervise banks, influence monetary policy, and generally maintain stability across the U.S. financial system.

If you look real closely on the back of a $1 bill, the Latin phrase "E pluribus unum" appears on a banner held by the eagle in the Great Seal of the United States. This phrase translates to "Out of many, one,” which was once the motto of the United States and referenced the formation of a single union out of 13 colonies.

Alexander Hamilton, the nation’s first secretary of the treasury, graces the front of the $10 bill. While he didn’t choose his own portrait for the bill — the first $10 bill was first issued in 1861 — the sitting secretary of the treasury does choose the designs for U.S. currency. U.S. law prohibits portraits of living people from being printed on currency; all portraits must be of deceased, notable figures.