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The real inspiration for the United States silver dollar probably came from a Spanish coin. This Spanish coin was made out of silver, a very rare commodity at that time and the coin consist nearly an ounce of it. This gave rise to the name Spanish dollar by the American colonists, which further charioted fame to the silver coin.

First minted in the year 1794, the United States silver dollar was proposed by and voted in by the United States congress to be used as the main form of United States currency. The United States silver dollar was also duly used along side the Spanish dollar well after the American Revolutionary War ended. The United States Mint continued producing these silver dollars up to the year 1803, but the minting of the silver dollar was ceased for almost 30 years due to the shortage of the precious metal. Then in 1836, during the period of the Old American West, the silver dollar made its comeback into the American currency system and began gaining a reputation as one of the most preferred currency of that time .

The reason why the populace of the Old American West favored the silver dollar to paper currency bills is because they felt that due to the value of the precious metal at that time, the coins proved to be more valuable simply because it was made of silver, which was a very rare and expensive commodity. Because of this, the silver dollar remained amongst the major and most used United States currency until the late eighteen hundreds, coming only second to the United States gold coins, for obvious reasons, one being that gold has always been far more valuable than silver.

The United States silver dollar was also very important to the various communities of the American West, especially for the people who enjoyed going to the saloons or better known as bars today, as they could finally have a fair exchange for a drink instead of being shortchanged by the bartender, through the unspecified amount of gold dust they receive in return. Silver coins were also highly treasured by gamblers, river boat travelers, even traders, as well as by those purchasing goods from the local mercantile, as it more practical and it eases the exchange of goods for fixed amounts of money. It was said that many famous personas from the old west carry the silver dollar, characters including Jesse James, Billy the Kid, Buffalo Bill Cody and Geronimo. It was also said that many rouge guns slinger of wild west would sometimes melt these silver coins and turn them into bullets!

In the Old West the silver dollar was worth far more than a dollar is today. People were able to buy shoes or other clothing items for a dollar, and it was a bargain compared to what a pair of shoes or pants cost today. A silver dollar would also buy 50 pounds of flour, 60 pounds of potato, 10 quarts of milk, five pounds of butter and two pounds of sugar. If only we enjoyed the same spending power today

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Throughout history, the dollar bill has seen the best and worst of times, and the current economic state of the country leaves very little to say about the positive impacts it once had in the international markets. The trillion dollar question that’s been running through the minds of so many today is: will the US dollar continue to decline in value or will it elusively begin to rise against all odds and obstacles, and make a come back again, more stronger and resilient than ever?

The value of the dollar bill declines when it loses its value in correlation to other foreign currencies. This results in diminished purchasing power on foreign trade, which will surely increase the price of imports, further causing inflation. When this happens, foreign investors will begin to sell of their US holdings, and the imminent crumbling of the financial market will ensue. It doesn’t help that the country’s current deficits amounting to trillions of dollars is owed to foreign countries through heavy lending, neither.

Due to this and much more, the dollar has lost almost half its value in the last decade alone, further fuelling speculation amongst creditor nations that the United States Government isn’t doing all it can in supporting the US dollar, partly because a weaker dollar would mean that the United States will not have to fork out as much money to pay back their creditors. The drawback to this is, these countries, realizing this, would revert their reserves to other more stable currencies like the Euro to minimize their loses. If this continue on the value of US investments will begin to erode, further invigorating inflation and the collapse of the US dollar.

The introduction of the Euro could also mean the probable replacement of the dollar as the preferred major international reserve currency, as is seen in the current oil trading markets which are proposing the use of the Euro instead of the dollar to aid trade. One of the largest investors of the US dollar is Japan, which means that in the case of an economic surge, the country, in its interest, could sells off its US holdings, increasing the national prime lending rate and strengthening the yen against the dollar.

Given all these, many financial experts say that the US dollar will not continue to collapse because it is backed by the US government, making it the world’s safest reserve currency. Thanks to the emerging of more and more sophisticated financial markets today, the US dollar has also become a universal medium of exchange, and a transition to another currency seems all too bleak. Another reason why the US dollar will probably remain its hold globally is because it is currently the only currency accepted in any oil contracts, a source of energy that the entire world is so dependable on.

In short, it is not in the best interest of the international communities to allow the US dollar to collapse, as so much has been vested in it, and for credible reasons. This alone would ensure the strength and prosperity of the dollar bill in the many years to come.

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On March 2008, the newer, safer, smarter, and more secure five dollar bills were produced and put into circulation. These notes is said to be so advanced that its much harder to forge and almost impossible to reproduce. So smart is the new five dollar bill that counterfeiters find it grueling to keep up with its technology. Two of the most important security features, that were first introduced in the 1990’s, are retained on the newly designed five dollar bill, which makes it so much easier to inspect. These features are the tried and tested watermark and the security thread.

The watermarks on the redesigned five dollar bill comprise of a large number five located to the right of the portrait and a column of three smaller fives which is positioned to its left. The large number five watermark actually replaces the previous watermark portrait of President Lincoln found on the older five dollar bills. These two new enhanced watermarks can easily be seen by holding the notes up to the light.

As for the security thread of the new five dollar bills, these have been moved to the right of the portrait, compared to the older version which is located to the left. The number five, as well as the words “USA”, alternates the visible pattern along the threads from either sides of these notes. When held under an ultraviolet light, this embedded security thread will turn a shade of blue glow. Like the watermarks, the security thread can also clearly be seen when held up to a light source.

Newer enhanced portraits and historical images also grace the new five dollar bills. Apart from making counterfeiting more difficult to achieve, these new notes also include other features that aids in telling the different denominations apart, particularly for people who are visually impaired.

New colors have also been added to these notes to make life just that much harder for currency forgers. The most noticeable difference is the addition of a shade of purple around the center of these bills, which slowly blends into a greyer shade when it nears the edges. The numbers “05” is also added to the left of the portrait on the front of the bill, as well as the right of the Lincoln Memorial vignette on its reverse side.

Other prominent changes were also made to the new five dollar bills and these include the Symbol of Freedom on the background of the bills, an altered portrait of President Abraham Lincoln, a redesigned vignette of the Lincoln Memorial, micro-printing of the words “FIVE DOLLARS,” “E PLURIBUS UNUM,” “USA,” and “USA FIVE,” enhanced Federal Reserve indicators, and the relocation of the serial numbers.

Because United States currency is widely circulated and used around the world, public awareness efforts have been initiated by the government to properly introduce these new notes, its sole aim being to educate the public on the various changes, how to properly utilize the security features, and steps that can be taken to further authenticate the bills. Hopefully this exercise will prove effective in ensuring the smooth transition of the new five dollar bills into the financial market. Interestingly, given all these added features and complex designs, the new five dollar bills will continue to be easily recognized globally as essentially American.

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