A portrait of George Washington, our first president, graces the front of the U. Mint first produced the Washington quarter in to commemorate the th anniversary of his birth.
Washington became president in after commanding the Continental Army during the Revolutionary War and presiding over the Constitutional Convention. A coin representing John F. Kennedy, the 35th U. JFK was shot to death on Nov. First Lady Jacqueline Kennedy chose the half-dollar for the denomination of the commemorative coin. Roberts designed the front of the coin, and Assistant Engraver Frank Gasparro designed the back. The Kennedy coin was minted the following year in In , Kennedy became the youngest person ever elected president.
He served less than three years. During that relatively short amount of time, JFK launched the Peace Corps, proposed comprehensive civil rights legislation, and challenged the U. The series include three sought-after coins: the 1 oz. Ronald Reagan served two terms as president, from to Among the highlights of his White House tenure were bringing an end to the Cold War, enacting middle-class tax cuts, and bolstering the U. Call U.
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The biggest hazard of printing too much money is hyperinflation. With more of the currency in circulation, each unit is worth less. While modest amounts of inflation are relatively harmless, uncontrolled devaluation can dramatically erode the purchasing power of consumers.
Naturally, it becomes harder to maintain the same standard of living. For this reason, central banks in developed countries usually try to keep inflation under control by indirectly taking money out of circulation when the currency loses too much value. Regardless of the form it takes, all currency has the same basic goals.
It helps encourage economic activity by increasing the market for various goods. And it enables consumers to store wealth and therefore address long-term needs. Currency was once limited to the domain of physical coins and bills, but today's digital economy means that money now exists as data stored in ledgers at banks, and is even transcending the possibility of tangibility with the development of cryptocurrencies such as Bitcoin which can never be made physical.
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Your Money. Personal Finance. Your Practice. Popular Courses. Economy Economics. Table of Contents Expand. What Is Currency? Various Forms of Currency. Value in Currency. Exchange-Rate Policies. The Impact of Inflation. The Bottom Line. Key Takeaways Currency is the physical money in an economy, comprising the coins and paper notes in circulation.
Currency makes up just a small amount of the overall money supply, much of which exists as credit money or electronic entries in financial ledgers. While early currency derived its value from the content of precious metal inside of it, today's fiat money is backed entirely by social agreement and faith in the issuer.
For traders, currencies are the units of account of various nation states, whose exchange rates fluctuate between one another. Article Sources. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.
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