Types of Money Bills

Seal on the $1 bill.

The most commonly used types of money bills in the United States are $1, $5, $10 and $20. Each bill has its own history. Each bill also has an image of a former president or someone who was important to American history on the front. The reason for this is because it is unlawful for a living person to appear on currency. Also, the Bureau of Engraving and Printing (BEP) is the committee responsible for providing suggestions relating to the design of currency.

$1 Bill

The $1 bill has evolved several times over the past century. In 1929, the dollar shrank to about 2/3 of its previous size. The markings on the back of the dollar also have changed significantly, from saying "The United States of America One Dollar" to "One Dollar" in 1929 to what it is today, with the eye above the pyramid and various other symbols that were not previously on the notes. The $1 bill has stayed the same in one way, however, by keeping the first president, George Washington (1732-1799), on the front of the bill.

$5 Bill

The $5 bill is the third-smallest U.S. paper currency, featuring the 16th president of the United States, Abraham Lincoln (1809-1865). This bill mostly stayed the same throughout its entire circulation until 2008, when the new $5 bill was placed into circulation. This new bill has an enlarged, purple "5" on the lower right-hand side. This measure was put into place to enhance security and protect American currency against counterfeiting.

$10 Bill

The $10 bill features a portrait of Alexander Hamilton (1756-1836) on the front. In March 2006, the $10 bill was redesigned. The new bill has a reddish hue, color-shifting ink, a watermark and a security thread. This new design makes it easier to distinguish real money from counterfeit money because holding the bill up to the light will allow someone to see the shift in the color of the ink.

$20 Bill

Andrew Jackson (1767-1845) appears on the $20 bill. Andrew Jackson was the seventh president of the United States. The $20 bill, just like the rest of the bills in circulation, has stayed the same throughout most of the time it's been around. In 2003, the $20 bill was redesigned to discourage counterfeiting. It now has faded yellow, red, light blue and about two different shades of green.

Additional Facts

The U.S. is planning to change each currency bill once every seven to 10 years to fight counterfeiting. More security measures were put in place by the Secret Service during the 1990s because computers made counterfeiting easier than ever. Only 3/100ths of 1 percent of currency is counterfeit. Seventy-five percent of counterfeit money is seized by government officials before it reaches the public.

References

• History of U.S. Paper Money
• Six Kinds of U.S. Paper Currency
• Spotting Counterfeit Currency

Resources

• Design of $10 Bill
• Design of $20 Bill
• Design of $5 Bill