History of American Currency

The video explores the history of the dollar, from its origins in 1519 with the minting of Jaochimsthalers to its establishment as the U.S. national currency. It discusses the challenges faced by American colonies in using foreign silver, the introduction of paper money during the Revolution, and the Coinage Act of 1792. The Civil War saw the rise of greenbacks, and post-WW2, the dollar became the global reserve currency. Modern changes include the introduction of historical figures on currency, reflecting America's evolving values.

What was the original name of the coins minted by Count Hieronymos Schlick?

• Reals

• Thalers

• Dollars

• Pesos

Why did American colonists rely on Mexican pesos?

• They were the only currency allowed by the British

• They were plentiful due to Spanish production

• They were easier to counterfeit

• They were more valuable than British pounds

Who wrote 'A Modest Enquiry into the Necessity of a Paper Currency'?

• Benjamin Franklin

• Thomas Jefferson

• George Washington

• John Adams

What was the value of Continental Currency originally pegged to?

• French franc

• Spanish dollar

• British pound

• Mexican peso

What did the Coinage Act of 1792 establish?

• The British pound as the national currency

• The dollar as the national currency

• The euro as the national currency

• The peso as the national currency

What was unique about the first American coins?

• They represented ideas, not people

• They were made of gold

• They were square-shaped

• They featured famous people

Who was Salmon P. Chase?

• A famous American president

• A British diplomat

• An anti-slavery senator and Secretary of the Treasury

• A Confederate general

What was the nickname for the paper notes printed during the Civil War?

• Reals

• Greenbacks

• Dixies

• Pesos

What major change occurred to the US dollar after World War II?

• It was replaced by the euro

• It was no longer used internationally

• It replaced the British pound as the global reserve currency

• It became a gold-backed currency

Who was announced to appear on the new $20 bill in 2016?

• George Washington

• Benjamin Franklin

• Harriet Tubman

• Abraham Lincoln