Greenback got its name from a slang term for U.S. paper dollars due to their color, however, in the mid-1800s, “greenback” was a negative term. During this time, the Continental Congress did not have taxing authority. As a result, the greenback did not have a secure financial backing and banks were reluctant to give customers […]
Read More...The monetary value of the greenback, which was printed using green ink on one side, fluctuated as the war progressed. At the start of 1864, when Union prospects were slim, the greenback dollar held a value of below 40 cents; by the end of the war in 1865, it was around 67 cents. The original intention was for the greenbacks […]
Read More...Its all about the Ink! The ink on the reverse side of the Greenback Federal Reserve Notes being green is what led to the nick name “greenback”. To a lesser extent, Silver Certificates and United States Notes also had a greenback, but the seal and serial numbers on the front were printed in blue and […]
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