Paper money has circulated in America at least as far back as colonial times. But how did American
currency come to look the way it does? What do all the symbols on our money mean?

About the Essay:

This essay is based on a lecture given by Stephen L. Goldsmith, on May 22, 2007, at the Federal Reserve Bank of Philadelphia. The Reserve Bank and Smythe and Company, one of New York’s oldest and largest coin and paper money auctioneers and dealers, are co-sponsoring this publication as part of the Bank’s economic education and public information efforts.

About the Author:

Stephen L. Goldsmith is the president of American Paper Money & Coin, LLC. Formerly he was executive vice president and auction director at R.M. Smythe & Company. He is a specialist in the fields of antique stocks and bonds, bank notes, and coins. He holds a B.A. from Brooklyn College.

Goldsmith is also a former president of the Professional Currency Dealers Association and was lead writer on the association’s first publication, Collecting U.S. Obsolete Currency. He is the editor of Collecting Confederate Paper Money, winner of a Numismatic Book-of-the-Year Award in 2005, and the editor of An Illustrated Catalogue of Early North American Advertising Notes. He directed the appraisals of the coin and currency collections at the New Orleans Branch of the Federal Reserve Bank of Atlanta and at the Federal Reserve Bank of Philadelphia.

Download Symbols on American Money

PDF format, 5.3MB, 16Pages. Provided by Federal Reserve Bank of Philadelphia.

Conclusion

Pyramids, eagles, goddesses, and frogs — even Santa Claus. These are just a few of the images that have appeared on American currency over the past three centuries. Some of these symbols are no longer used, but many of them can still be found on present-day U.S. notes and coins.

Understanding the importance of the symbolism on American money and the meaningful messages it conveys helps us to better appreciate the ideals of hope, optimism, and patriotism our Founding Fathers were trying to pass on to all future generations of Americans to share.

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