The HP MediaSmart Server is a line of home servers sold by Hewlett-Packard , designed to run Microsoft 's Windows Home Server operating system.
71-537: As of October 2008, the HP MediaSmart Server is sold in two models, EX470 (RRP US$ 599) and EX475 (RRP US$ 749). They feature a 1.8 GHz AMD Sempron 3400+ processor, one Gigabit Ethernet port, four internal SATA drive bays, four USB 2.0 ports and one eSATA port. The two models are identical with the exception of the amount of included storage: the EX470 has one 500 GB hard drive preinstalled, while
142-658: A 1.6 GHz Intel Atom 230 processor, 1 GB of DDR2 memory, Gigabit Ethernet, and four USB ports for storage expansion. The software features included with the LX195 are the same as the initial launch features of the EX485/EX487 server On September 14, 2009, HP launched two new MediaSmart servers. The EX490 comes with 1 TB of hard disk storage and costs $ 549, while the EX495 comes with 1.5 TB and costs $ 699 both 7200 rpm. The 490 comes with an Intel Celeron Processor 2.2 GHz and
213-699: A 2.0 GHz Intel Celeron processor, replacing the AMD Sempron from the old models. Other features include a revamped user interface and larger preinstalled hard drives (one 750 GB drive for the EX485; two 750 GB drives in the EX487). On April 30, 2009, HP announced the MediaSmart Server LX195 which was intended to be a low-cost entry into the Home Server market. The new model featured a single internal 640 GB drive,
284-482: A dollar are emitted as Federal Reserve Notes , disregarding these special cases: In the 16th century, Count Hieronymus Schlick of Bohemia began minting coins known as joachimstalers , named for Joachimstal , the valley in which the silver was mined. In turn, the valley's name is titled after Saint Joachim , whereby thal or tal , a cognate of the English word dale , is German for 'valley.' The joachimstaler
355-735: A dollar, and dimes at 0.100 of a dollar. After the adoption of the United States Constitution , the U.S. dollar was defined by the Coinage Act of 1792 . It specified a "dollar" based on the Spanish milled dollar to contain 371 + 4 ⁄ 16 grains of fine silver, or 416.0 grains (26.96 g) of "standard silver" of fineness 371.25/416 = 89.24%; as well as an "eagle" to contain 247 + 4 ⁄ 8 grains of fine gold, or 270.0 grains (17.50 g) of 22 karat or 91.67% fine gold. Alexander Hamilton arrived at these numbers based on
426-555: A dollar; and the eagle , or ten dollars. The current relevance of these units: The Spanish peso or dollar was historically divided into eight reales (colloquially, bits ) – hence pieces of eight . Americans also learned counting in non-decimal bits of 12 + 1 ⁄ 2 cents before 1857 when Mexican bits were more frequently encountered than American cents; in fact this practice survived in New York Stock Exchange quotations until 2001. In 1854, Secretary of
497-566: A limited extent" as money. Treasury Notes were again printed to help resolve the reduction in public revenues resulting from the Panic of 1837 and the Panic of 1857 , as well as to help finance the Mexican–American War and the Civil War . Paper money was issued again in 1862 without the backing of precious metals due to the Civil War . In addition to Treasury Notes, Congress in 1861 authorized
568-649: A series of revisions to the gold peg was implemented, culminating in the Nixon Shock of August 15, 1971, which suddenly ended the convertibility of dollars to gold. The U.S. dollar has since floated freely on the foreign exchange markets . Congress continued to issue paper money after the Civil War, the latest of which is the Federal Reserve Note that was authorized by the Federal Reserve Act of 1913 . Since
639-487: A treasury assay of the average fine silver content of a selection of worn Spanish dollars , which came out to be 371 grains. Combined with the prevailing gold-silver ratio of 15, the standard for gold was calculated at 371/15 = 24.73 grains fine gold or 26.98 grains 22K gold. Rounding the latter to 27.0 grains finalized the dollar's standard to 24.75 grains of fine gold or 24.75*15 = 371.25 grains = 24.0566 grams = 0.7735 troy ounces of fine silver. The same coinage act also set
710-454: Is an accepted version of this page The United States dollar ( symbol : $ ; currency code : USD ; also abbreviated US$ to distinguish it from other dollar-denominated currencies ; referred to as the dollar , U.S. dollar , American dollar , or colloquially buck ) is the official currency of the United States and several other countries . The Coinage Act of 1792 introduced
781-510: Is considered to be sufficiently approximated by 31.10 g in EU directive 80/181/EEC. The Dutch troy system is based on a mark of 8 ounces, the ounce of 20 engels (pennyweights), the engel of 32 as. The mark was rated as 3,798 troy grains or 246.084 grammes. The divisions are identical to the tower system. The pennyweight symbol is dwt . One pennyweight weighs 24 grains, and 20 pennyweights make one troy ounce. Because there were 12 troy ounces in
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#1733084477937852-620: Is generally supposed to take its name from the French market town of Troyes where English merchants traded at least as early as the early 9th century. The name troy is first attested in 1390, describing the weight of a platter, in an account of the travels in Europe of the Earl of Derby . Charles Moore Watson (1844–1916) proposes an alternative etymology: The Assize of Weights and Measures (also known as Tractatus de Ponderibus et Mensuris ), one of
923-632: Is in Federal Reserve Notes (the remaining $ 50 billion is in the form of coins and older-style United States Notes ). As of September 20, 2023, the Federal Reserve estimated that the total amount of currency in circulation was approximately US$ 2.33 trillion . Article I , Section 8 of the U.S. Constitution provides that Congress has the power "[t]o coin money ." Laws implementing this power are currently codified in Title 31 of
994-455: Is that it is derived from the Pillars of Hercules on the Spanish coat of arms of the Spanish dollar . These Pillars of Hercules on the silver Spanish dollar coins take the form of two vertical bars ( || ) and a swinging cloth band in the shape of an S . Yet another explanation suggests that the dollar sign was formed from the capital letters U and S written or printed one on top of
1065-649: Is the most widely used currency in international transactions , and a free-floating currency . It is also the official currency in several countries and the de facto currency in many others, with Federal Reserve Notes (and, in a few cases, U.S. coins) used in circulation. The monetary policy of the United States is conducted by the Federal Reserve System , which acts as the nation's central bank . As of February 10, 2021, currency in circulation amounted to US$ 2.10 trillion , $ 2.05 trillion of which
1136-468: The Coinage Act of 1834 the dollar's fine gold equivalent was revised to 23.2 grains; it was slightly adjusted to 23.22 grains (1.505 g) in 1837 (gold-silver ratio ~16). The same act also resolved the difficulty in minting the "standard silver" of 89.24% fineness by revising the dollar's alloy to 412.5 grains, 90% silver, still containing 371.25 grains fine silver. Gold was also revised to 90% fineness: 25.8 grains gross, 23.22 grains fine gold. Following
1207-544: The Comstock Lode in the 1870s. This was the so-called "Crime of '73". The Gold Standard Act of 1900 repealed the U.S. dollar's historic link to silver and defined it solely as 23.22 grains (1.505 g) of fine gold (or $ 20.67 per troy ounce of 480 grains). In 1933, gold coins were confiscated by Executive Order 6102 under Franklin D. Roosevelt , and in 1934 the standard was changed to $ 35 per troy ounce fine gold, or 13.71 grains (0.888 g) per dollar. After 1968
1278-527: The Continental Congress resolved that the money unit of the United States, the dollar, would contain 375.64 grains of fine silver; on August 8, 1786, the Continental Congress continued that definition and further resolved that the money of account, corresponding with the division of coins, would proceed in a decimal ratio , with the sub-units being mills at 0.001 of a dollar, cents at 0.010 of
1349-517: The Dutch pioneered in modern-day New York in the 17th century the use and the counting of money in silver dollars in the form of German-Dutch reichsthalers and native Dutch leeuwendaalders ('lion dollars'), it was the ubiquitous Spanish American eight-real coin which became exclusively known as the dollar since the 18th century. The colloquialism buck(s) (much like the British quid for
1420-531: The People's Bank of China has previously used troy measurements in minting Gold Pandas beginning in 1982; since 2016, the use of troy ounces has been replaced by integer numbers of grams. The troy pound (lb t) consists of twelve troy ounces and thus is 5 760 grains ( 373.241 72 grams). (An avoirdupois pound is approximately 21.53% heavier at 7 000 grains ( 453.592 37 grams), and consists of sixteen avoirdupois ounces). A troy ounce weighs 480 grains . Since
1491-657: The U.S. Code , under Section 5112, which prescribes the forms in which the United States dollars should be issued. These coins are both designated in the section as " legal tender " in payment of debts. The Sacagawea dollar is one example of the copper alloy dollar, in contrast to the American Silver Eagle which is pure silver . Section 5112 also provides for the minting and issuance of other coins, which have values ranging from one cent ( U.S. Penny ) to 100 dollars. These other coins are more fully described in Coins of
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#17330844779371562-456: The United States 's exorbitant privilege . The United States Mint has issued legal tender coins every year from 1792 to the present. From 1934 to the present, the only denominations produced for circulation have been the familiar penny, nickel, dime, quarter, half dollar, and dollar. Troy ounce Troy weight is a system of units of mass that originated in the Kingdom of England in
1633-401: The pound sterling ) is often used to refer to dollars of various nations, including the U.S. dollar. This term, dating to the 18th century, may have originated with the colonial leather trade, or it may also have originated from a poker term. Greenback is another nickname, originally applied specifically to the 19th-century Demand Note dollars, which were printed black and green on
1704-543: The statutes of uncertain date from the reign of either Henry III or Edward I , thus before 1307, specifies " troni ponderacionem "—which the Public Record Commissioners translate as "troy weight". The word troni refers to markets. Wright's The English Dialect Dictionary lists the word troi as meaning a balance , related to the alternate form 'tron' which also means market or the place of weighing. From this, Watson suggests that 'troy' derives from
1775-401: The unit of account of the United States. "Dollar" is one of the first words of Section 9, in which the term refers to the Spanish milled dollar , or the coin worth eight Spanish reales . In 1792, the U.S. Congress passed the Coinage Act , of which Section 9 authorized the production of various coins, including: Dollars or Units —each to be of the value of a Spanish milled dollar as
1846-511: The 12-ounce troy pound in the 19th century. It has been retained, though rarely used, in the American system. Larger amounts of precious metals are conventionally counted in hundreds or thousands of troy ounces, or in kilograms. Troy ounces have been and are still often used in precious metal markets in countries that otherwise use International System of Units (SI), except in East Asia . However,
1917-480: The 15th century and is primarily used in the precious metals industry. The troy weight units are the grain , the pennyweight (24 grains), the troy ounce (20 pennyweights), and the troy pound (12 troy ounces). The troy grain is equal to the grain unit of the avoirdupois system, but the troy ounce is heavier than the avoirdupois ounce, and the troy pound is lighter than the avoirdupois pound. Legally, one troy ounce (oz t) equals exactly 31.1034768 grams. Troy weight
1988-500: The 495 with an Intel Pentium Processor Dual Core 2.5 GHz. On November 30, 2010, The Windows Home Server team at Microsoft confirmed rumors that HP would not be offering hardware for the next version of Windows Home Server (codenamed "Vail"), and that HP would stop selling MediaSmart servers altogether after the end of the calendar year 2010. Released on September 29, 2009, the DataVault X510 has identical hardware and software to
2059-560: The EX475 has two 500 GB hard drives preinstalled. Hackers and enthusiasts have modded the EX470 by adding a VGA monitor, upgrading the memory from 512 MB to 2 GB and upgrading the processor to a 2.6 GHz AMD LE-1640. On December 29, 2008, HP announced two more models, the EX485 and the EX487, available for pre-orders starting on January 8, 2009. The newer models include support for Apple 's Time Machine backup software. They also use
2130-605: The MediaSmart Server EX495 and comes with an Intel Pentium Processor Dual Core 2.5 GHz and 2GB of RAM. The DataVault X510 is aimed at small business users. Released on June 2, 2010, the DataVault X310 comes with an Intel Atom Dual Core 1.6Ghz and 2GB of RAM. The DataVault X310 is aimed at small business users as a cheaper version of the X510. The DataVault X310 software has media streaming features omitted. US$ This
2201-530: The Treasury James Guthrie proposed creating $ 100, $ 50, and $ 25 gold coins, to be referred to as a union , half union , and quarter union , respectively, thus implying a denomination of 1 Union = $ 100. However, no such coins were ever struck, and only patterns for the $ 50 half union exist. When currently issued in circulating form, denominations less than or equal to a dollar are emitted as U.S. coins , while denominations greater than or equal to
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2272-837: The Treasury to borrow $ 50 million in the form of Demand Notes , which did not bear interest but could be redeemed on demand for precious metals. However, by December 1861, the Union government's supply of specie was outstripped by demand for redemption and they were forced to suspend redemption temporarily. In February 1862 Congress passed the Legal Tender Act of 1862 , issuing United States Notes , which were not redeemable on demand and bore no interest, but were legal tender , meaning that creditors had to accept them at face value for any payment except for public debts and import tariffs. However, silver and gold coins continued to be issued, resulting in
2343-555: The U.S. dollar at par with the Spanish silver dollar , divided it into 100 cents , and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes , popularly called greenbacks due to their predominantly green color. The U.S. dollar was originally defined under a bimetallic standard of 371.25 grains (24.057 g) (0.7734375 troy ounces) fine silver or, from 1834 , 23.22 grains (1.505 g) fine gold, or $ 20.67 per troy ounce . The Gold Standard Act of 1900 linked
2414-450: The United States and to supervise its banking system, particularly in the aftermath of the Panic of 1907 . For most of the post-war period, the U.S. government has financed its own spending by borrowing heavily from the dollar-lubricated global capital markets, in debts denominated in its own currency and at minimal interest rates. This ability to borrow heavily without facing a significant balance of payments crisis has been described as
2485-519: The United States dollar . Article I, Section 9 of the Constitution provides that "a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time", which is further specified by Section 331 of Title 31 of the U.S. Code. The sums of money reported in the "Statements" are currently expressed in U.S. dollars, thus the U.S. dollar may be described as
2556-675: The United States until the Coinage Act of 1857 . In particular, colonists' familiarity with the Spanish two- real quarter peso was the reason for issuing a quasi-decimal 25-cent quarter dollar coin rather than a 20-cent coin. For the relationship between the Spanish dollar and the individual state colonial currencies, see Connecticut pound , Delaware pound , Georgia pound , Maryland pound , Massachusetts pound , New Hampshire pound , New Jersey pound , New York pound , North Carolina pound , Pennsylvania pound , Rhode Island pound , South Carolina pound , and Virginia pound . On July 6, 1785,
2627-525: The United States was a significant recipient of wartime gold inflows. After the United States emerged as an even stronger global superpower during the Second World War , the Bretton Woods Agreement of 1944 established the U.S. dollar as the world's primary reserve currency and the only post-war currency linked to gold. Despite all links to gold being severed in 1971, the dollar continues to be
2698-513: The average Spanish dollar in circulation. The new U.S. silver dollar of 371.25 grains (24.057 g) therefore compared favorably and was received at par with the Spanish dollar for foreign payments, and after 1803 the United States Mint had to suspend making this coin out of its limited resources since it failed to stay in domestic circulation. It was only after Mexican independence in 1821 when their peso's fine silver content of 377.1 grains
2769-496: The backside, created by Abraham Lincoln to finance the North for the Civil War . It is still used to refer to the U.S. dollar (but not to the dollars of other countries). The term greenback is also used by the financial press in other countries, such as Australia , New Zealand , South Africa , and India . Other well-known names of the dollar as a whole in denominations include greenmail , green , and dead presidents ,
2840-440: The buying and selling of goods. This allowed the value of things to remain fairly constant over time, except for the influx and outflux of gold and silver in the nation's economy. Though a Spanish dollar freshly minted after 1772 theoretically contained 417.7 grains of silver of fineness 130/144 (or 377.1 grains fine silver), reliable assays of the period in fact confirmed a fine silver content of 370.95 grains (24.037 g) for
2911-558: The continent. The troy ounce and grain were also part of the apothecaries' system . This was long used in medicine, but has been largely replaced by the metric system (milligrams). The only troy weight in widespread use is the British Imperial troy ounce and its American counterpart. Both are based on a grain of 0.06479891 gram (exact, by definition), with 480 grains to a troy ounce (compared with 437 + 1 ⁄ 2 grains for an ounce avoirdupois). The British Empire abolished
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2982-414: The currency, a practice compared to the policies of European monarchs. The currency as we know it today did not get the faces they currently have until after the early 20th century; before that "heads" side of coinage used profile faces and striding, seated, and standing figures from Greek and Roman mythology and composite Native Americans. The last coins to be converted to profiles of historic Americans were
3053-607: The depreciation of the newly printed notes through Gresham's law . In 1869, Supreme Court ruled in Hepburn v. Griswold that Congress could not require creditors to accept United States Notes, but overturned that ruling the next year in the Legal Tender Cases . In 1875, Congress passed the Specie Payment Resumption Act , requiring the Treasury to allow U.S. Notes to be redeemed for gold after January 1, 1879. Though
3124-647: The dime (1946), the half Dollar (1948), and the Dollar (1971). After the American Revolution , the Thirteen Colonies became independent . Freed from British monetary regulations, they each issued £sd paper money to pay for military expenses. The Continental Congress also began issuing "Continental Currency" denominated in Spanish dollars. For its value relative to states' currencies, see Early American currency . Continental currency depreciated badly during
3195-483: The discontinuation of all other types of notes (Gold Certificates in 1933, Silver Certificates in 1963, and United States Notes in 1971), U.S. dollar notes have since been issued exclusively as Federal Reserve Notes . The U.S. dollar first emerged as an important international reserve currency in the 1920s, displacing the British pound sterling as it emerged from the First World War relatively unscathed and since
3266-421: The dollar came under the gold standard de jure only after 1900, the bimetallic era was ended de facto when the Coinage Act of 1873 suspended the minting of the standard silver dollar of 412.5 Troy grains = 26.73 g; 0.859 ozt, the only fully legal tender coin that individuals could convert bullion into in unlimited (or Free silver ) quantities, and right at the onset of the silver rush from
3337-400: The dollar solely to gold. From 1934, its equivalence to gold was revised to $ 35 per troy ounce . In 1971 all links to gold were repealed. The U.S. dollar became an important international reserve currency after the First World War , and displaced the pound sterling as the world's primary reserve currency by the Bretton Woods Agreement towards the end of the Second World War . The dollar
3408-506: The form of British pre-decimal pennies, in which pounds, shillings, and pence were indicated using the symbols £ , s , and d , respectively. There is no specific 'troy grain'. All Imperial systems use the same measure of mass called a grain (historically of barley ), each weighing 1 ⁄ 7000 of an avoirdupois pound (and thus a little under 65 milligrams). Mint masses, also known as moneyers' masses , were legalized by Act of Parliament dated 17 July 1649 entitled An Act touching
3479-475: The implementation of the international yard and pound agreement of 1 July 1959, the grain measure is defined as precisely 64.798 91 milligrams . Thus one troy ounce = 480 grains × 0.064 798 91 grams/grain = 31.103 476 80 grams. Since the ounce avoirdupois is defined as 437.5 grains, a troy ounce is exactly 480 ⁄ 437.5 = 192 ⁄ 175 or about 1.09714 ounces avoirdupois or about 9.7% more. The troy ounce for trading precious metals
3550-397: The latter of which referring to the deceased presidents pictured on most bills. Dollars in general have also been known as bones (e.g. "twenty bones" = $ 20). The newer designs, with portraits displayed in the main body of the obverse (rather than in cameo insets), upon paper color-coded by denomination, are sometimes referred to as bigface notes or Monopoly money . Piastre
3621-462: The manner of weighing by balance precious goods such as bullion or drugs; in contrast to the word 'avoirdupois' used to describe bulk goods such as corn or coal, sometimes weighed in ancient times by a kind of steelyard called the auncel . Troy weight referred to the Tower system ; the earliest reference to the modern troy weights is in 1414. The origin of the troy weight system is unknown. Although
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#17330844779373692-401: The modern-day World Bank Group , establishing the infrastructure for conducting international payments and accessing the global capital markets using the U.S. dollar. The monetary policy of the United States is conducted by the Federal Reserve System , which acts as the nation's central bank . It was founded in 1913 under the Federal Reserve Act in order to furnish an elastic currency for
3763-614: The name probably comes from the Champagne fairs at Troyes , in northeastern France. English troy weights were nearly identical to the troy weight system of Bremen . (The Bremen troy ounce had a mass of 480.8 British Imperial grains.) Many aspects of the troy weight system were indirectly derived from the Roman monetary system . Before they used coins, early Romans used bronze bars of varying weights as currency. An aes grave ("heavy bronze") weighed one pound . One twelfth of an aes grave
3834-512: The numerical amount, is used for the U.S. dollar (as well as for many other currencies). The sign was perhaps the result of a late 18th-century evolution of the scribal abbreviation p for the peso , the common name for the Spanish dollars that were in wide circulation in the New World from the 16th to the 19th centuries. The p and the s eventually came to be written over each other giving rise to $ . Another popular explanation
3905-435: The old troy pound, there would have been 240 pennyweights to the pound (mass) – just as there were 240 pennies in the original pound-sterling . However, prior to 1526, the English pound sterling was based on the tower pound , which is 15 ⁄ 16 of a troy pound. The d in dwt stands for denarius , the ancient Roman coin that equates loosely to a penny. The symbol d for penny can be recognized in
3976-546: The other. This theory, popularized by novelist Ayn Rand in Atlas Shrugged , does not consider the fact that the symbol was already in use before the formation of the United States. The U.S. dollar was introduced at par with the Spanish-American silver dollar (or Spanish peso , Spanish milled dollar , eight-real coin , piece-of-eight ). The latter was produced from the rich silver mine output of Spanish America ,
4047-459: The public offices and all proceedings in the courts of the United States shall be kept and had in conformity to this regulation. Unlike the Spanish milled dollar, the Continental Congress and the Coinage Act prescribed a decimal system of units to go with the unit dollar, as follows: the mill , or one-thousandth of a dollar; the cent , or one-hundredth of a dollar; the dime , or one-tenth of
4118-478: The rise in the price of silver during the California Gold Rush and the disappearance of circulating silver coins, the Coinage Act of 1853 reduced the standard for silver coins less than $ 1 from 412.5 grains to 384 grains (24.9 g), 90% silver per 100 cents (slightly revised to 25.0 g, 90% silver in 1873). The Act also limited the free silver right of individuals to convert bullion into only one coin,
4189-504: The same is now current, and to contain three hundred and seventy-one grains and four sixteenth parts of a grain of pure, or four hundred and sixteen grains of standard silver. Section 20 of the Act designates the United States dollar as the unit of currency of the United States: [T]he money of account of the United States shall be expressed in dollars, or units...and that all accounts in
4260-552: The silver dollar at the rate of 1 silver dollar to 1000 continental dollars. This resulted in the clause "No state shall... make anything but gold and silver coin a tender in payment of debts" being written into the United States Constitution article 1, section 10 . From implementation of the 1792 Mint Act to the 1900 implementation of the gold standard , the dollar was on a bimetallic silver-and-gold standard, defined as either 371.25 grains (24.056 g) of fine silver or 24.75 grains of fine gold (gold-silver ratio 15). Subsequent to
4331-474: The silver dollar of 412.5 grains; smaller coins of lower standard can only be produced by the United States Mint using its own bullion. Summary and links to coins issued in the 19th century: In order to finance the War of 1812 , Congress authorized the issuance of Treasury Notes , interest-bearing short-term debt that could be used to pay public dues. While they were intended to serve as debt, they did function "to
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#17330844779374402-414: The value of an eagle at 10 dollars, and the dollar at 1 ⁄ 10 eagle. It called for silver coins in denominations of 1, 1 ⁄ 2 , 1 ⁄ 4 , 1 ⁄ 10 , and 1 ⁄ 20 dollar, as well as gold coins in denominations of 1, 1 ⁄ 2 and 1 ⁄ 4 eagle. The value of gold or silver contained in the dollar was then converted into relative value in the economy for
4473-423: The war, giving rise to the famous phrase "not worth a continental". A primary problem was that monetary policy was not coordinated between Congress and the states, which continued to issue bills of credit. Additionally, neither Congress nor the governments of the several states had the will or the means to retire the bills from circulation through taxation or the sale of bonds. The currency was ultimately replaced by
4544-477: The world's foremost reserve currency for international trade to this day. The Bretton Woods Agreement of 1944 also defined the post-World War II monetary order and relations among modern-day independent states , by setting up a system of rules, institutions, and procedures to regulate the international monetary system . The agreement founded the International Monetary Fund and other institutions of
4615-579: Was based on, and virtually identical with, the pre-1824 British troy ounce and the pre-1707 English troy ounce. (1824 was the year the British Imperial system of weights and measures was adopted; 1707 was the year of the Act of Union which created the Kingdom of Great Britain .) Troy ounces have been used in England since the early 15th century, and the English troy ounce was officially adopted for coinage in 1527. Before that time, various sorts of troy ounces were in use on
4686-479: Was called an uncia , or in English, an "ounce". Before the adoption of the metric system, many systems of troy weights were in use in various parts of Europe, among them Holland troy, Paris troy, etc. Their values varied from one another by up to several percentage points. Troy weights were first used in England in the 15th century and were made official for gold and silver in 1527. The British Imperial system of weights and measures (also known as Imperial units )
4757-405: Was established in 1824, prior to which the troy weight system was a subset of pre-Imperial English units . The troy ounce in modern use is essentially the same as the British Imperial troy ounce (1824–1971), adopted as an official weight standard for United States coinage by act of Congress on May 19, 1828. The British Imperial troy ounce (known more commonly simply as the imperial troy ounce)
4828-412: Was firmly upheld, which the U.S. later had to compete with using a heavier 378.0 grains (24.49 g) Trade dollar coin . The early currency of the United States did not exhibit faces of presidents, as is the custom now; although today, by law, only the portrait of a deceased individual may appear on United States currency. In fact, the newly formed government was against having portraits of leaders on
4899-461: Was later shortened to the German taler , a word that eventually found its way into many languages, including: tolar ( Czech , Slovak and Slovenian ); daler ( Danish and Swedish ); talar ( Polish ); dalar and daler ( Norwegian ); daler or daalder ( Dutch ); talari ( Ethiopian ); tallér ( Hungarian ); tallero ( Italian ); دولار ( Arabic ); and dollar ( English ). Though
4970-737: Was minted in Mexico City , Potosí (Bolivia), Lima (Peru), and elsewhere, and was in wide circulation throughout the Americas, Asia, and Europe from the 16th to the 19th centuries. The minting of machine-milled Spanish dollars since 1732 boosted its worldwide reputation as a trade coin and positioned it to be the model for the new currency of the United States . Even after the United States Mint commenced issuing coins in 1792, locally minted dollars and cents were less abundant in circulation than Spanish American pesos and reales ; hence Spanish, Mexican, and American dollars all remained legal tender in
5041-590: Was the original French word for the U.S. dollar, used for example in the French text of the Louisiana Purchase . Though the U.S. dollar is called dollar in Modern French, the term piastre is still used among the speakers of Cajun French and New England French , as well as speakers in Haiti and other French-speaking Caribbean islands. Nicknames specific to denomination: The symbol $ , usually written before
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