Understand American Money
The American money system is logical and very easy to
use. It is based on the dollar ($1.00), on which all cash and coins are
dependent. There are 100 cents in a dollar. Coins are parts of one dollar, for
example: a quarter ($0.25) is 1/4 of a dollar, a dime ($0.10) is 1/10th of a
dollar, and so forth. Paper bills are multiples of a dollar: for example, a $5
bill.
When speaking about money, $1 is referred to as
"a one", "a dollar", "a dollarbill", or "a
buck"; $5 is "a five", "five dollars", "a five
dollar bill", or "five bucks"; etc. Another way to refer to
money is to call it "cash." One popular slang term for money is
"cheddar." The five, ten, twenty, fifty and hundred dollar bills have
recently been changed in order to provide more security features. Both the new
and old versions are currently used. The one dollar bill is not being changed
as it is not considered as likely to be counterfeited. Also in use but not as
frequently seen are the $2, $50 and $100 bills. The two dollar bill is rare -
people often collect, rather than spend, them. $50 and $100 bills are not
widely used and many places may not accept them for small purchases. You
probably won't ever see any larger-value denominations such as $1,000, $500,
$5,000, and $10,000. People not familiar with these bills should probably not
accept them, because counterfeit, or fake, currency does happen, especially in
the higher and more unfamiliar denominations. Store employees may not like the
use of very large bills to pay for very small items. For example, try not to
use a $50 to pay for a 25? pack of candy! It would be better to pay with a
smaller denomination or some coins. If you don't have anything smaller, it is
polite to let the store worker know. US Coins The most widely used coins are
the quarter, dime, nickel, and penny.
Each type of coin has a specific size and design,
usually with the image of a president or other famous American person on the
front. Quarters have been made with different pictures on their back sides, in
honor of the 200th anniversary of the
Practical use The quarter is one of the most useful
coins. If you are a student, be sure to save these! They can be used in almost
any coin-operated machine: clothes washers & dryers, arcade games, pay
phones, and vending machines dispensing food, drinks, stamps, tickets,
newspapers, etc. Quarters and nickels can usually be used in pay phones and vending
machines. Many vending machines will take small bills, such as ones, fives, and
tens, but the change you get back will all be in coins. Often there will be a
dollar changer near coin-operated machines which dispenses quarters in exchange
for small bills. One word of caution: vending machines do not take dollar
coins, half-dollars, pennies, or Canadian coins. Credit or charge cards are
being used more and more, even for buying small things. Many Americans don't
like to carry much cash, and the cards are easy and safe to use. They are
accepted almost everywhere, but not at all fast food restaurants! Traveler's
checks are a good idea for visitors also. You won't have to carry large amounts
of money in your pocket or purse, and the checks can be replaced if they get
lost or stolen.
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