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American Currency Facts – Dale’s Daily Data

The first paper money in this country was printed in 1862 during the Civil War to make up for a shortage of coins because people started hoarding them.  Back then coins were made of gold and silver and people wanted to hang on to them because the value of the gold and silver itself could be more valuable than the coin itself

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Dale’s Daily Data: Paper Money

Somebody was telling me the other day they got a dollar coin in change the other day and didn’t want it.  The Treasury Department would love it if you used more dollar coins because they last longer, but people just don’t like coins jingling in their pockets.  The reason the U.S. began issuing paper money in the first place was because during the Civil War began hoarding coins because of the uncertainty of the war and because the value of coins made of gold and silver didn’t change much.  To make up for the shortage, paper money was printed for the first time in 1862.

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