When was money first used in USA?

Answer 1

1862

CorrectionThe 1862 date noted above refers to the first time that the Federal Government issued its own currency.

The use of paper money in the US actually dates back to the days of the Revolutionary War, when the new government issued paper notes called Continental Currency to help pay for the war. The bills had almost no backing and quickly became worthless, leading to the expression "Not worth a Continental".

Following independence a variety of paper money was issued, mostly by private banks under governmental authority. Following 1862 private bills continued to be produced and circulated alongside federally-issued money until the early 20th century. There was a dizzying variety of notes with different designs, values, and type designations - United States Notes, Silver Certificates, Gold Certificates, National Currency, and so on were all available.

When the Federal Reserve System was established in 1913 as the country's central bank, it gradually took over production and distribution of all paper money in order to put the nation's currency on a consistent foundation rather than relying on the vagaries of individual private banks. Those many different types of paper money being printed were gradually consolidated into a the familiar Federal Reserve Notes we now use.

The US Mint / The BEPContrary to popular misunderstanding, the US Mint only makes coins and does create any paper money. All US paper currency is produced by the Bureau of Engraving and Printing. The two departments are independent of each other.
In 1862 the first time that the Federal Government issued its own currency.

However, the use of paper money in North America dates to the colonial era, around 1690. The first American paper money was issued during the Revolutionary War, when the new government printed paper notes called Continental Currency to help pay for the war. The bills had almost no backing and quickly became worthless, leading to the expression "Not worth a Continental".

Following independence a variety of paper money was issued, mostly by private banks under governmental authority. Following 1862 private bills continued to be produced and circulated alongside federally-issued money until the early 20th century. There was a dizzying variety of notes with different designs, values, and type designations - United States Notes, Silver Certificates, Gold Certificates, National Currency, and so on were all available.

When the Federal Reserve System was established in 1913 as the country's central bank, it gradually took over production and distribution of all paper money in order to put the nation's currency on a consistent foundation rather than relying on the vagaries of individual private banks. Those many different types of paper money being printed were gradually consolidated into a the familiar Federal Reserve Notes we now use.

Answer 2

The Massachusetts Bay Colony issued the first paper money in 1690. The colonies would later form the United States.

The first federally-issued paper money was printed in 1861 and 1862, to help pay for the Civil War.

Answer 3

The first dollar coins were founded in 1792 by the united states mint.

CorrectionPrior to independence the colonies of course used whatever currency was available from the colonial powers, mostly British and Spanish coins.

The Continental Congress issued some of the first paper money in the newly-independent USA, but these quickly became worthless. The US Dollar was established as the nation's official currency by the Constitution of 1787. The Coinage Act of 1792 defined the specifications of the first silver coins including the dollar. The first circulating coins were 0.5¢ and 1¢ pieces dated 1793, and silver dollars were first struck (not "founded") in 1794.

Answer 4

1690

Answer 5

1769

Answer 6

in 1861

Answer 7

1690