Denomination (currency) in the context of "United States ten-dollar bill"

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⭐ Core Definition: Denomination (currency)

Denomination is a proper description of a currency amount, usually for coins or banknotes. Denominations may also be used with other means of payment such as gift cards. For example, five euros is the denomination of a five-euro note.

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👉 Denomination (currency) in the context of United States ten-dollar bill

The United States ten-dollar bill (US$10) is a denomination of U.S. currency. The obverse of the bill features the portrait of Alexander Hamilton, who served as the first U.S. secretary of the treasury, two renditions of the torch of the Statue of Liberty (Liberty Enlightening the World), and the words "We the People" from the original engrossed preamble of the United States Constitution. The reverse features the U.S. Treasury Building. All $10 bills issued today are Federal Reserve Notes.

As of December 2018, the average life of a $10 bill in circulation is 5.3 years before it is replaced due to wear. Ten-dollar bills are delivered by Federal Reserve Banks bound with yellow straps.

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Denomination (currency) in the context of Gold coin

A gold coin is a coin that is made mostly or entirely of gold. Most gold coins minted since 1800 are 900–920 ‰ gold (22‑karat), while most of today's gold bullion coins are pure gold, such as the Britannia, Canadian Maple Leaf, and American Buffalo. Alloyed gold coins, like the American Gold Eagle and South African Krugerrand, are typically 917 ‰ gold by weight, with the remainder being silver and copper.

Until about the 1930s, gold coins were circulation coins, including coin-like bracteates and dinars. Since then, gold coins have mainly been produced as bullion coins for investors and as commemorative coins for collectors. While modern gold coins are still legal tender, they are not used in everyday financial transactions, as the metal value invariably exceeds the nominal value. For example, the quarter-ounce American Gold Eagle has a denomination of $10, but a metal value of approximately $500 (as of January 2024).

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Denomination (currency) in the context of United States one-hundred-dollar bill

The United States one-hundred-dollar bill (US$100) is a denomination of United States currency. The first United States Note with this value was issued in 1862 and the Federal Reserve Note version was first produced in 1914. Inventor and U.S. Founding Father Benjamin Franklin has been featured on the obverse of the bill since 1914, which now also contains stylized images of the Declaration of Independence, a quill pen, the Syng inkwell, and the Liberty Bell. The reverse depicts Independence Hall in Philadelphia, which it has featured since 1928.

The $100 bill is the largest denomination that has been printed and circulated since July 13, 1969, when the larger denominations of $500, $1,000, $5,000, and $10,000 were retired. As of December 2018, the average life of a $100 bill in circulation is 22.9 years before it is replaced due to wear.

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Denomination (currency) in the context of United States one-dollar bill

The United States one-dollar bill (US$1), sometimes referred to as a single, has been the lowest value denomination of United States paper currency since the discontinuation of U.S. fractional currency notes in 1876. An image of the first U.S. president (1789–1797), George Washington, based on the Athenaeum Portrait, a 1796 painting by Gilbert Stuart, is currently featured on the obverse, and the Great Seal of the United States is featured on the reverse. The one-dollar bill has the oldest overall design of all U.S. currency currently in use. The reverse design of the present dollar debuted in 1935, and the obverse in 1963 when it was first issued as a Federal Reserve Note (previously, one-dollar bills were Silver Certificates). The current US two-dollar bill has the oldest obverse design, dating from 1928.

A dollar bill is composed of 25% linen and 75% cotton. That blend makes the notes more difficult to counterfeit compared to paper (as well as increasing its durability). As of December 31, 2018, the average life of a dollar bill in circulation is 6.6 years before it is replaced due to wear. Approximately 42% of all U.S. currency produced in 2009 were one-dollar bills. As of December 31, 2019, there were 12.7 billion one-dollar bills in circulation worldwide. An engraver at the US Bureau of Engraving and Printing, George Frederick Cumming Smillie, made an etching of a painting of George Washington by Gilbert Stuart which was used on multiple banknotes. A vignette of the portrait appears on the one dollar bill of 1899, and on notes since 1918.

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Denomination (currency) in the context of Traveller's cheque

A traveller's cheque is a medium of exchange that can be used in place of the currency of a country. Each cheque is denominated in a preprinted fixed, round, amount of one of a number of major world currencies; it has two panels for a signature. The purchaser signs one panel of each cheque on receiving it; to use it, it is signed on the second panel and dated in the presence of the payee, who accepts it if the signatures match. It can then be deposited into a bank account in the same way as a normal cheque; payment was guaranteed if the signatures matched, even if a cheque had been used fraudulently, for example stolen, encouraging merchants to accept them routinely. While it was possible for the issuer to go out of business, invalidating cheques, most issuers were large, stable, businesses.

Traveller's cheques were widely used from the 1850s to the 1990s by people travelling in foreign countries instead of cash, mainly before the introduction of payment cards and later electronic methods of payment. They were much safer for the traveller as their value would be reimbursed if stolen, unlike cash. A book of cheques of different amounts would be carried, to be cashed or spent as required. They could be exchanged for local currency at a bank, and many merchants accepted them as payment.

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Denomination (currency) in the context of Redenomination

In monetary economics, redenomination is the process of changing the face value of banknotes and coins in circulation. It may be done because inflation has made the currency unit so small that only large denominations of the currency are in circulation. In such cases the name of the currency may change or the original name may be used with a temporary qualifier such as "new". Redenomination may be done for other reasons such as changing over to a new currency such as the Euro or during decimalisation.

Redenomination itself is considered symbolic as it does not have any impact on a country's exchange rate in relation to other currencies. It may, however, have a psychological impact on the population by suggesting that a period of hyperinflation is over, and is not a reminder of how much inflation has impacted them. The reduction in the number of zeros also improves the image of the country abroad.

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Denomination (currency) in the context of Indian paisa

The Indian paisa (plural: paise)() is a 1100 (one-hundredth) subdivision of the Indian rupee. The paisa was first introduced on 1 April 1957 after decimalisation of the Indian rupee.

In 1955, the Government of India first amended the Indian Coinage Act and adopted the "metric system for coinage". From 1957 to 1964, the paisa was called naya paisa (transl. 'new paisa') to distinguish it from the old paisa/pice which was a 164 subdivision of the Indian Rupee. On 1 June 1964, the term "naya" was dropped and the denomination was named paisa. Paisa has been issued in 1, 2, 3, 5, 10, 20, 25, and 50 paise coins. Though as of 2023, coins of the denomination of 1 rupee are the lowest value in use.

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Denomination (currency) in the context of Chinese cash (currency unit)

Chinese cash (Chinese: ; pinyin: wén) was a currency denomination used in China in imperial times. It was the chief denomination until the introduction of the yuan in the late 19th century.

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