US Paper Money Day

US Paper Money Day is an annual American holiday dedicated to paper bills. Their history spans more than 150 years. During this time, paper dollars have changed repeatedly to arrive at the form we see today. The holiday is observed on March 10.

History

The history of US Paper Money Day is directly tied to the history of paper money itself, which is very complex. The legal issuance of money did not begin until 1862. It was the bills issued from this year that became the official currency of the United States. The first money of this kind appeared on February 3, 1690, in Massachusetts. However, at that time, they acted only as a kind of letter of credit used for military financing. In the second half of the 18th century, Congress wanted to establish such a currency, but accelerated inflation prevented it from doing so.

In the 1860s, there were demand bills and U.S. banknotes. The latter were issued in 1862 and subsequently became the main currency for the country. Earlier money could not be redeemed and was rapidly losing value, so it was abandoned.

After official permission on March 10, 1862, a full-fledged issue of paper money began. US Paper Money Day is in honor of this event.

Interesting Facts

• The first paper money appeared in China around 700 BC.
• In 1862, A. Lincoln signed the Act establishing banknotes as the official means of payment in the United States.
• The first $100 bill featuring the image of B. Franklin appeared in 1914. In 1923, mass production of such banknotes with his image began.

How to Celebrate

On US Paper Money Day, learn more about the history of US paper money and the modern images of famous people on it. Visit museums to see old examples of banknotes.

Spread the word on social media. Ask other users if they have collector’s bills from the early years.

When is US Paper Money Day in 2025?

US Paper Money Day is observed on March 10 each year.

Observations