08/07/2026
Friday here at ABAC, beginning a new series at ABAC Library "Did you know?" Considering we celebrated America's 250th anniversary, known as the semiquincentennial, on 4 July 2026, 250 years since the adoption of the Declaration of Independence in 1776. I have been thinking of what could start this series off with "Fireworks" ๐๐๐บ๐ธ ๐ฆ
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(Please see photos of early American coins and dollar bills at the end.)
I started with National Dollar Day because tomorrow we celebrate the day the $1.00 bill entered people's hands and became a part of our everyday lives. So, without further hesitation, did you know that August 8 is National Dollar Day? ๐บ๐ธ๐ต๐ฐ
Saturday, August 8, is National Dollar Day, commemorating the establishment of the United States monetary system in 1786. On that day, the Continental Congress adopted the dollar as the official monetary unit and established standards for the values of various coins. Gold was valued at $10 per unit, while silver was valued at $1.
But when you hear the name George Washington, what is the first image that pops into your head?
For many Americans, it is the familiar portrait of our first president staring back at us from the $1 bill. But have you ever wondered how George Washington ended up there?
Today, our paper money is known as Federal Reserve Notes, but the story of American currency began long before the Federal Reserve was created.
In fact, the history of the dollar and George Washington's connection to it is a fascinating story that dates back to the earliest days of our nation.
During the colonial era, physical money was scarce throughout the American Colonies. Much of the economy relied on barter, with goods and services exchanged directly for one another. Various foreign coins were also used, but there was no single, standardized American currency.
During the American Revolution, the Continental Congress began issuing paper currency known as Continental currency to help finance the war. Unfortunately, the currency was issued in such large quantities that its value rapidly depreciated. This gave rise to the famous expression "not worth a Continental," meaning something was considered to have little or no value.
After the Revolution, establishing a stable monetary system became an important priority for the new United States. The Constitution addressed the issue directly. Article I, Section 8 gave Congress the power to coin money and regulate its value, while Article I, Section 10 restricted the states from coining their own money.
Then, in 1792, the United States Mint was established, providing the young nation with a standardized system for producing coins. The Mint's creation marked an important step toward the organized monetary system we recognize today.
In 1862, the first one-dollar bill was issued as a Legal Tender Note, also known as a United States Note. It featured a portrait of Salmon P. Chase, the Secretary of the Treasury under President Abraham Lincoln. Lincoln signed the legislation authorizing the issuance of these notes. Then, in 1869, the $1 United States Note was redesignedโand this is where George Washington enters the story.
The redesigned $1 note featured a portrait of Washington prominently in the center, while a vignette depicting Christopher Columbus sighting land appeared to the left. The obverse also featured repeated overprinting of the word "ONE" in very small green type, along with blue tinting on the paper. Interestingly, although the 1869 note was technically a United States Note, it was labeled "TREASURY NOTE" rather than "UNITED STATES NOTE."
Martha Washington appeared on the 1886 $1 silver certificate, and she wasn't the last; however, this $1.00 Silver Certificate is on display at the Smithsonian Institute.
And just like that, George Washington's face became associated with the nation's $1 noteโa connection that would continue for generations.
Currently held by the
In 1797, the United States Mint produced the Draped Bust Silver Dollar featuring a Small Eagle reverse.
So, as we celebrate National Dollar Day, take a moment the next time you pull a dollar bill from your wallet. That familiar face isn't just a portrait. George Washington represents the beginning of a nationโand a currency system that has become one of the most recognizable in the world. ๐บ๐ธ๐ต
Happy National Dollar Day! ๐บ๐ธ๐ต๐ฐ
Abraham Baldwin Agricultural College Tifton-Tift County Chamber of Commerce
