Did You Know?
The dollar was established as the official currency of the U.S. in 1785.
In 1785, the Continental Congress met in New York and on 6 July the dollar was established as the official currency of the new United States of America.
The Congress decided it would be a decimal system with 100 cents to a dollar. But disagreements among the members of Congress - which even then was divided about the extent to which the federal government should dictate to the individual states - meant that it wasn't until 1792 that a mint was established in America.
And it was another 70 years - 1862, in the middle of the Civil War - before the US Treasury was able to print dollar bills - black on the front, green on the back, so coloured because of the chemicals used to prevent counterfeiting. And so the dollar (or greenback) as we know it today came into being.