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Category: Money

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The Cost of Independence: Highlights from the Early American Paper Money Collection

Posted by: Ellen Terrell

Today’s guest post is by Anastasia “Tasha” Binkowski. Tasha is a Librarian-in-Residence working in the Rare Book & Special Collections and Manuscript Divisions. The Early American Paper Money Collection, newly rehoused in Rare Book and Special Collections at the Library of Congress, probably isn’t like any money you’ve ever seen before. These bills are roughly …

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For the Latest on Counterfeit Money

Posted by: Ellen Terrell

Almost a year ago fellow blogger Yvonne Dooley did a post about the Grand Watermelon whose design was intended to thwart counterfeiting – and when it comes to money, counterfeiting is the persistent problem.  One early publication that bankers used in the fight against this scourge was Thompson’s Bank Note and Commercial Reporter, which was …

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“Resolved, That the money unit of the United States of America be one dollar.”

Posted by: Donna Scanlon

On today’s date in 1785 the Continental Congress set the dollar as the official currency of the new United States. Also on this date it was Resolved “That the several pieces shall increase in a decimal ratio.” As a side note Thomas Jefferson wrote on this very topic in “Notes on the establisment[!] of a …