The metal used must thus have excellent wear resistance and anti-corrosion properties. Coins have a purpose and some special requirements based on the conditions they will encounter. The metals used to make coins are specifically chosen to serve long term. In 1861, the federal government circulated the first paper money.Īnother day, another dollar.but how are they made? Credit: © 2013, a division of Getty Images.Mint and established a federal monetary system with set denominations for coins, and specified the value of each coin in gold, silver, or copper. In 1792, the Coinage Act of 1792 created the U.S.In 1785, Congress adopted the dollar as the monetary unit of the United States.It was to support the financial operations of the fledgling government. In 1781, Congress chartered the Bank of North America in Philadelphia as the first national bank.Here is a brief look into the history of currency in the U.S.: One American dollar is divided into 100 smaller units called cents. It is the official currency of the United States of America and its overseas territories. The United States dollar (USD/US$) is also referred to as American dollar or the U.S.

All us coins