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Quiz about Notable Notes
Quiz about Notable Notes

Notable Notes Trivia Quiz


Ten notable notes about United States currency.

A multiple-choice quiz by walkabout. Estimated time: 5 mins.
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Author
walkabout
Time
5 mins
Type
Multiple Choice
Quiz #
219,058
Updated
Dec 03 21
# Qns
10
Difficulty
Tough
Avg Score
6 / 10
Plays
507
- -
Question 1 of 10
1. U.S. currency has a long list of nicknames, including buck, sawbuck, and semoles to name a few. What type of note is considered to be the first currency to be called a "greenback"? Hint


Question 2 of 10
2. What 1863 law was signed by President Lincoln in an attempt to create a uniform national currency, as well as a strong national banking system? Hint


Question 3 of 10
3. The $2 Note features a portrait of Thomas Jefferson on the front. Depending on the series however, the reverse side of the note depicts either a vignette of the signing of the Declaration of Independence, or what famous estate? Hint


Question 4 of 10
4. As of 2005, U.S. paper currency is produced in what denominations? Hint


Question 5 of 10
5. What is the largest denomination of currency the Bureau of Engraving and Printing (United States) has ever produced? Hint


Question 6 of 10
6. The Legal Tender Act of 1862 authorized the use of what type of note as the United States' first national currency?
(hint: the note carried a red seal and serial number)
Hint


Question 7 of 10
7. In what year did the Treasury announce that they would immediately stop distributing currency in denominations exceeding $100, due to advancements in secure transfer technologies? Hint


Question 8 of 10
8. Automobiles are depicted on what denomination of U.S. currency? Hint


Question 9 of 10
9. The Federal Reserve Act of 1913 authorized the production of Federal Reserve Notes. The seals and serial numbers on these notes appear in what color? Hint


Question 10 of 10
10. On the reverse of the one dollar bill, the phrase "ANNUIT COEPTIS" translates to English as "He (God) has favored our undertakings". What is the English translation of the second phrase; "NOVUS ORDO SECLORUM"? Hint



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Quiz Answer Key and Fun Facts
1. U.S. currency has a long list of nicknames, including buck, sawbuck, and semoles to name a few. What type of note is considered to be the first currency to be called a "greenback"?

Answer: Demand Note

In the early days of paper money, government officials' salaries were paid in Demand Notes, in an attempt to build public confidence in this type of currency. The reverse side of the Demand Note was colored green, and gave way to the popular nickname "greenback", which is still commonly used today.
2. What 1863 law was signed by President Lincoln in an attempt to create a uniform national currency, as well as a strong national banking system?

Answer: The National Bank Act

"The National Bank Act" was drafted under the heading of "The National Currency Act". The law stipulates that the comptroller of the newly created "Currency Bureau" be paid five thousand dollars, annually.
3. The $2 Note features a portrait of Thomas Jefferson on the front. Depending on the series however, the reverse side of the note depicts either a vignette of the signing of the Declaration of Independence, or what famous estate?

Answer: Monticello

Series 1963A features Thomas Jefferson's elaborate estate known as Monticello, while series 1976 features the signing, which is based on an engraved reduction of the painting by John Trumbull, entitled "The Signing of the Declaration of Independence".
4. As of 2005, U.S. paper currency is produced in what denominations?

Answer: $1, $2, $5, $10, $20, $50 and $100

Though not widely in circulation, the $2 note is still in production, while denominations exceeding $100 have not been in production since 1969. The Bureau of Engraving and Printing (BEP) states that the present circulation "satisfies the public at large", and does not plan to change the denominations in the future.
5. What is the largest denomination of currency the Bureau of Engraving and Printing (United States) has ever produced?

Answer: $100,000

The $100,000 Series 1934 Gold Certificate was the largest bill ever produced by the BEP. The notes were in production for less than a month, between December 1934 and January 1935. Since the notes were intended only for official transactions between Federal Reserve Banks, they were not circulated among the general public.

The $100,000 bill featured a portrait of Woodrow Wilson. Occasionally, $1,000,000 notes have surfaced, and some attempts have been made to cash them in. The BEP has never issued such a note, and therefore $1,000,000 notes are obviously counterfeit.
6. The Legal Tender Act of 1862 authorized the use of what type of note as the United States' first national currency? (hint: the note carried a red seal and serial number)

Answer: United States Note

United States Notes began circulating in 1862 as obligations of the U.S. Government, redeemable in gold. Due to limitations established by Congress, the total value of all United States Notes in circulation could not exceed $300 million. After the U.S. abandoned the gold standard in 1933, the United States Note served no function that was not already covered by the Federal Reserve Note (our dollar). Thusly, the United States Note was discontinued, and none have been circulated since 1971.
7. In what year did the Treasury announce that they would immediately stop distributing currency in denominations exceeding $100, due to advancements in secure transfer technologies?

Answer: 1969

In 1969, denominations of $500, $1000, $5,000 and $10,000 were pulled from distribution. The large denominations were mainly used to facilitate bank transfer payments, and because of the advancements in technology, the physical representation of funds were no longer needed.

The notes remain legal tender to this day, although they are removed from circulation and destroyed as Federal Reserve Banks continue to receive them.
8. Automobiles are depicted on what denomination of U.S. currency?

Answer: $10 (Prior to year 2000)

One might speculate that Henry Ford "paid a mint" to advertise on the ten dollar bill, but close inspection reveals that the four cars on the reverse side are not of any specific make, model or year, but rather an artist's rendering of the general style of automobiles that were being manufactured in the 1920's. The cars were removed when the new design was introduced in May, 2000.
9. The Federal Reserve Act of 1913 authorized the production of Federal Reserve Notes. The seals and serial numbers on these notes appear in what color?

Answer: Green

The Federal Reserve Note functions much like the earlier United States Note (with seal & serial colored red), but it is not subject to the same limitations as the U.S. Note. In addition, the Federal Reserve Note is an obligation of both the Federal Reserve System and the U.S. Government, and move into circulation through the Federal Reserve System, rather than directly into the population.
10. On the reverse of the one dollar bill, the phrase "ANNUIT COEPTIS" translates to English as "He (God) has favored our undertakings". What is the English translation of the second phrase; "NOVUS ORDO SECLORUM"?

Answer: "A new order of the ages"

The two inscriptions surround the Great Seal of the United States, which depicts an incomplete pyramid with an "all-seeing" eye on the top. The pyramid represents strength, and the fact that it is unfinished means that the United States is always growing. The eye could be interpreted to be the watchful eye God, always guiding the American cause.
Source: Author walkabout

This quiz was reviewed by FunTrivia editor ozzz2002 before going online.
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