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Let's Talk Money Trivia Quiz

This quiz will deal with the history of U.S. paper currency, and the men and women who adorned our "greenbacks".

A multiple-choice quiz by ncterp. Estimated time: 3 mins.

Author
ncterp

Time
3 mins

Type
Multiple Choice

Quiz #
410,939

Updated
Feb 14 23

# Qns
10

Difficulty
Average

Avg Score
7 / 10

Plays
218

One at a Time - Single Page - Timed Game

Question 1 of 10

1. Colonial Notes were first issued in 1690 by which of the original thirteen colonies? Hint

New York

Virginia

Pennsylvania

Massachusetts Bay

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Question 2 of 10

2. In 1775 the Continental Congress issued currency to finance the revolution. What phrase arose with its issuance? Hint

Not worth the paper it's written on

Continental waste

Not worth a plug nickel

Not worth a continental

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Question 3 of 10

3. In 1785 the United States officially adopted the dollar sign. From what currency in use in the colonies in the 18th century was the dollar sign derived? Hint

Dutch Guilder

British Pound

Spanish Peso

French Franc

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Question 4 of 10

4. In 1791 which Founding Father established the Bank of the United States? Hint

Nathaniel Greene

Alexander Hamilton

James Madison

John Jay

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Question 5 of 10

5. In 1862 the Treasury Seal made its first appearance on U.S. currency. These were the first $1 "legal tender" notes. Whose portrait appeared on these notes? Hint

Abraham Lincoln

James Madison

George Washington

Salmon P. Chase

6. In 1913 the Federal Reserve became the nation's central bank. The newly established Federal Reserve Board begins to issue Federal Reserve Notes. Whose portrait appeared on the first $10 Federal Reserve Note in 1914? Hint

George Washington

Woodrow Wilson

Andrew Jackson

Theodore Roosevelt

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Question 7 of 10

7. In 1914 the Federal Reserve issued currency in $10,000 denominations.

True

False

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Question 8 of 10

8. In 1861 what other identifier was added to U.S. currency that still appears today? Hint

Seal of the Federal Reserve

Motto "In God We Trust"

Signatures of the Treasurer of the U.S. and the Treasury Secretary

Serial numbers

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Question 9 of 10

9. Up to 2022, whose was the only actual female portrait to have appeared on U.S. currency? Hint

Eleanor Roosevelt

Dolly Madison

Martha Washington

Abagail Adams

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Question 10 of 10

10. The reverse of $10 Federal Reserve notes issued between 1928 and 1996 show a depiction of the U.S. Treasury Building. What was added to the image between those years? Hint

Horse and buggy

Family having a picnic

Bicycle

Car

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Quiz Answer Key and Fun Facts

1. Colonial Notes were first issued in 1690 by which of the original thirteen colonies?

Answer: Massachusetts Bay

Massachusetts Bay issued colonial notes to fund military expeditions, other colonies soon followed suit. In 1739, in an effort to prevent counterfeiting, Ben Franklin began embossing leaves on colonial notes.

2. In 1775 the Continental Congress issued currency to finance the revolution. What phrase arose with its issuance?

Answer: Not worth a continental

The currency quickly lost its value because it had no solid backing and rampant counterfeiting. General Washington was forced to beg for support and supplies for his ragtag army.

3. In 1785 the United States officially adopted the dollar sign. From what currency in use in the colonies in the 18th century was the dollar sign derived?

Answer: Spanish Peso

The Spanish peso or "piece of eight" was in such frequent use it became abbreviated to SP. Eventually the S was written on top of the P. This is the widely accepted theory. However, another theory, espoused by author Ayn Rand in her novel "Atlas Shrugged", is that the symbol originated from the initials US, with the U written over the S (minus the bottom loop of the U).

4. In 1791 which Founding Father established the Bank of the United States?

Answer: Alexander Hamilton

Alexander Hamilton was the first Secretary of the Treasury. Hamilton believed that the federal government needed to establish a system of credit to facilitate borrowing and spending.

5. In 1862 the Treasury Seal made its first appearance on U.S. currency. These were the first $1 "legal tender" notes. Whose portrait appeared on these notes?

Answer: Salmon P. Chase

Chase was Lincoln's Secretary of Treasury. Also during the Civil War the government issued $5, $10, and $20 notes that became known as "greenbacks" because of the green ink used on the back. In 1863 Congress established the national banking system.

Answer: Andrew Jackson

These notes were called "horse blanket" notes because they were so big that people joked they could be used to over the back of a horse.

7. In 1914 the Federal Reserve issued currency in $10,000 denominations.

Answer: True

These notes were used for bank-to-bank transactions, not for public circulation. The featured a portrait of Salmon P. Chase. The Federal Reserve also issued $500, $1000, and $5,000 notes. This question does not relate to "gold certificates" which featured a portrait of Woodrow Wilson.

8. In 1861 what other identifier was added to U.S. currency that still appears today?

Answer: Serial numbers

Serial numbers are eight-digit-long codes that are unique to each bill. They are found on the front of U.S. currency and are always printed twice and show where the bill was printed.

9. Up to 2022, whose was the only actual female portrait to have appeared on U.S. currency?

Answer: Martha Washington

In 1886 and 1896 Martha Washington's portrait appeared on $1 silver certificates. Female likenesses have appeared as allegorical figures representing liberty and justice.

10. The reverse of $10 Federal Reserve notes issued between 1928 and 1996 show a depiction of the U.S. Treasury Building. What was added to the image between those years?

Answer: Car

An engraver added an automobile in front of the Treasury building image. The car was based on a number of different models and brands that were available in the 1920s.

Source: Author ncterp

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