What did the earliest settlers of the 13 American colonies primarily use as currency when they ran out of British coins?

• Spanish Pesos

• Wampum, tobacco, and beaver skins

• French Francs

• Gold and silver bars

What was a significant drawback of using commodity money like tobacco as currency?

• It was too heavy to carry.

• Its value could fluctuate wildly and it could lose value over time.

• It was difficult to produce in large quantities.

• Indigenous tribes refused to accept it.

When did the Continental Congress officially designate the dollar as the country's official currency?

• 1775

• 1783

• 1785

• 1792

The word "dollar" is an altered form of what Germanic word?

• Mark

• Krone

• Taler

• Guilder

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Who was featured on the first one-dollar bill issued in 1862?

• George Washington

• Abraham Lincoln

• Salmon P. Chase

• Benjamin Franklin

What does the American eagle on the Great Seal of the United States hold in its talons?

• A sword and a shield

• 13 arrows of war and an olive branch of peace

• A scroll and a quill

• A torch and a book

What is the composition of the special paper used for US currency?

• 100% wood pulp

• 50% linen, 50% cotton

• 25% linen, 75% cotton

• 75% linen, 25% cotton

What is the average lifespan of a one-dollar bill in circulation?

• Approximately 1 year

• Approximately 3.5 years

• Approximately 7 years

• Approximately 10 years