National Dollar Day

National Dollar Day celebrates the United States dollar, on the anniversary of the date in 1786 when the Continental Congress established the monetary system. On that day, they set the value of what various coins would be, and what metallic makeup they would have. Among other coins, they set the value of a gold piece at $10, the value of a silver piece at $1, the value of other silver pieces at one-tenth of $1, and the value of copper pennies at one-hundredth of $1. They had already established the dollar as the money unit of the United States the previous July.

The United States Mint was founded in 1792, and the first dollar coin, the Flowing Hair Dollar, was first minted in 1794. Its design was based on the Spanish dollar. Paper money dollars are known as Federal Reserve Notes. The first paper dollar wasn't printed until 1862, and it had Abraham Lincoln's Secretary of the Treasury, Salmon P. Chase, printed on it. George Washington first appeared on the $1 bill in 1869. Today, the United States dollar is used in most international transactions and is the world's primary reserve currency.

How to Observe National Dollar Day

You could celebrate the day by spending a few dollars. Using dollar coins or dollar bills when making purchases would probably be the best. Instead of spending a few dollars, you could also save or invest them. A fun way to use the day may be to take a tour of the U.S. Bureau of Engraving and Printing Visitor Center or of one of the U.S. Mint facilities.

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