The US Dollar has been the official currency of the United States of America for centuries. It is also the official currency of El Salvador, Ecuador, Panama and East Timor and the unofficial currency of several countries and territories including Lebanon, Guatemala, Afghanistan and Haiti. The word dollar has been taken from the name of a valley in Bohemia where the silver was mined for coins in the 1500s. The wordās etymology came from āJoachimstalersā which translates as āfrom the valley of Joachimstalā and this in turn was shortened to ātalersā and then, when this came into the English language it quickly became dollars.
Each single US dollar breaks down into ten dimes and a dime is then broken into ten cents. American coins are issued in the form of the nickel (equivalent of a UK penny) which is worth $0.05, the dime and the quarter worth $0.25. The sizing of American coins can make them confusing as the nickel is a larger size than the dime but it is worth less. Half dollar and full dollar coins also exist but they are not commonly used and there are bank notes for every dollar denomination from 1, 2, 5, 10, 20, 50 and 100. The largest notes in circulation are the $100 bill but there have been larger notes issued for special purposes and produced for regular use but as of 1946 notes larger than this size were being used in organised crime and so removed from circulation. Much like in the UK the US dollar notes have recognisable famous people on them, including former presidents and senior politicians. The universal symbol for the US dollar is $ and the ISO code is USD.
The History of the US Dollar
Americaās relatively short history means the US dollar doesnāt have a past which goes back over the centuries. In fact, the US dollar was first minted in 1792 and was designed to mimic the Spanish dollar. In the US the new US dollar, Mexican peso and Spanish dollar all remained legal tender until 1857. Ever since 1857 the only currency youāll find in official use in America is the dollar.
US Dollar Conversion Rates
The value of the US Dollar when compared with British currency does fluctuate quite regularly and it is usually worth between around Ā£0.60 and Ā£0.70.
American casino laws make it very tricky for many of our most recognisable casinos to allow US players to enjoy their sites but the US dollar remains the most widely-accepted currency at online casino sites around the world. In a large number of casinos, the dollar is the preferred currency and the one that is most regularly known. Before the crackdown on casinos in America they were the driving force behind the industry and so most casinos were already setup to serve that particular market. It simply made common sense to keep dollars as the main currency on their sites. Almost all casinos will accept transactions in dollars.