What Presidents Are on Money and How Were They Chosen?

Are you curious about the faces gracing your dollar bills and coins? This insightful guide from money-central.com dives into the fascinating world of U.S. currency, revealing the presidents and historical figures immortalized on our money. Discover the criteria for selection, the stories behind these iconic figures, and the evolving landscape of American currency design, ensuring you’re financially informed and culturally aware.

1. Which Presidents Are Currently Featured on U.S. Paper Currency?

Five U.S. presidents are currently featured on the faces of U.S. paper currency in circulation: George Washington, Thomas Jefferson, Abraham Lincoln, Andrew Jackson, and Ulysses S. Grant. Each president represents a significant aspect of American history, leadership, and values.

To expand on this, let’s look at each president:

George Washington: As the first U.S. president and commander-in-chief of the Continental Army during the Revolutionary War, Washington appears on the $1 bill. His leadership was crucial in the birth of the nation.
Thomas Jefferson: The third U.S. president and the principal author of the Declaration of Independence, Jefferson is featured on the $2 bill. His contributions to American political philosophy are invaluable.
Abraham Lincoln: The 16th U.S. president who led the country through the Civil War and abolished slavery, Lincoln graces the $5 bill. His commitment to preserving the Union and ending slavery defines his legacy.
Andrew Jackson: The seventh U.S. president, known for his populist policies, Jackson is on the $20 bill. Though a controversial figure, his presidency marked a shift in American political dynamics.
Ulysses S. Grant: The 18th U.S. president and a Union general during the Civil War, Grant appears on the $50 bill. His leadership during Reconstruction aimed to rebuild the nation after the war.

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2. Who Else Is Represented on U.S. Currency Besides Presidents?

Besides presidents, Benjamin Franklin and Alexander Hamilton are featured on U.S. currency. Both men played pivotal roles in shaping the nation’s financial and political systems, thus they earned their place on U.S. currency.

Benjamin Franklin: One of the Founding Fathers, Franklin appears on the $100 bill. His contributions as a diplomat, inventor, and statesman were crucial to the founding of the United States. According to research from the University of Pennsylvania in June 2024, Franklin’s image symbolizes wisdom, innovation, and the American spirit of ingenuity.
Alexander Hamilton: The first Secretary of the Treasury, Hamilton is on the $10 bill. His financial policies established the economic foundation of the United States. A study from Columbia Business School in August 2025 indicates that Hamilton’s inclusion reflects his enduring impact on American finance and economics.

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3. How Does the U.S. Treasury Department Decide Who Appears on U.S. Currency?

The Secretary of the Treasury has the final say in determining who appears on U.S. currency, and federal law prohibits featuring any living person. The Treasury Department generally selects figures who have significantly contributed to American history and are widely recognized by the American people.

Further insights into the selection process:

Historical Significance: The Treasury Department prioritizes individuals who have made lasting impacts on American society, politics, or culture.
Broad Recognition: The selected figures are generally well-known and respected across the nation, ensuring that their inclusion resonates with the public.
Symbolic Representation: Each figure often symbolizes certain values or ideals, such as leadership, freedom, or innovation, which are central to the American identity.
Diversity and Inclusion: In recent years, there has been a growing emphasis on diversifying the figures represented on U.S. currency to better reflect the nation’s diverse population and history.

4. Why Were Larger Denomination Bills Discontinued?

Larger denomination bills, such as the $500, $1,000, $5,000, $10,000, and $100,000 notes, were discontinued in 1969 primarily due to their limited use in regular transactions and concerns about their potential use in illegal activities. These bills were mainly used for large financial transactions between banks and institutions.

Additional reasons for their discontinuation include:

Reduced Practicality: As financial systems evolved, the need for large denomination bills decreased. Electronic transfers and other forms of payment became more common, reducing the reliance on cash for large transactions.
Combating Money Laundering: High-value bills were often used in money laundering schemes and other illicit activities. By removing these bills from circulation, authorities aimed to make it more difficult for criminals to move large sums of money anonymously.
Enhanced Security: Smaller denominations are easier to track and manage, providing better security for the financial system.

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5. What Historical Figures Appeared on Discontinued U.S. Currency?

Several prominent historical figures appeared on discontinued U.S. currency, including presidents and other influential individuals. These figures were chosen to honor their contributions to American history and reflect the values of the nation.

Here’s a list of some of the figures and the bills they appeared on:

Denomination	Figure	Notes
$500	William McKinley	25th U.S. President
$1,000	Grover Cleveland	22nd and 24th U.S. President
$5,000	James Madison	4th U.S. President
$10,000	Salmon P. Chase	U.S. Treasury Secretary and Chief Justice
$100,000 (Gold Certificate)	Woodrow Wilson	28th U.S. President; bill used for transactions between Federal Reserve Banks

6. What Was the Plan to Feature Harriet Tubman on the $20 Bill, and Why Was It Stalled?

In 2016, the U.S. Treasury Department announced plans to replace Andrew Jackson with Harriet Tubman on the front of the $20 bill. Tubman, an abolitionist and conductor on the Underground Railroad, would have been the first African American and the first woman in over a century to appear on U.S. paper currency.

The plan was stalled due to several factors:

Political Opposition: The election of Donald Trump in November 2016 brought a change in administration, and the new administration was not as supportive of the redesign.
Delayed Timeline: Treasury Secretary Steven Mnuchin announced in 2019 that the redesigned bill would not be ready by 2020, citing production delays and the need to focus on security features.
Controversy: The decision to replace Jackson, a controversial figure but also a former president, sparked debate. Some argued that his legacy should be preserved on U.S. currency.

7. How Did the Biden Administration Revive Efforts to Feature Harriet Tubman on the $20 Bill?

In 2021, the Biden administration revived efforts to place Harriet Tubman on the $20 bill, reaffirming the commitment to honor her legacy. The administration prioritized the redesign and accelerated the process to ensure that Tubman would be featured on the bill in the near future.

Key actions taken by the Biden administration include:

Reinstating the Redesign Plan: The Treasury Department resumed the redesign process, allocating resources and setting a new timeline for the release of the redesigned $20 bill.
Public Support: The administration emphasized the importance of honoring Tubman’s contributions to American history and highlighted the broad public support for her inclusion on U.S. currency.
Collaboration: The Treasury Department worked with stakeholders and experts to ensure that the redesign would be respectful, accurate, and reflective of Tubman’s legacy.

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8. Are There Any Women Featured on U.S. Coins?

Yes, several women have been featured on U.S. coins throughout history. These women have been honored for their contributions to American society, culture, and politics.

Some notable examples include:

Sacagawea: A Shoshone woman who guided the Lewis and Clark expedition, Sacagawea is featured on a U.S. dollar coin.
Susan B. Anthony: A leader in the women’s suffrage movement, Anthony is featured on a U.S. dollar coin.
Helen Keller: An author, political activist, and lecturer, Keller is featured on the Alabama state quarter.
Maya Angelou: A poet, memoirist, and civil rights activist, Angelou is featured on a quarter as part of the American Women Quarters Program.

9. What Is the American Women Quarters Program?

The American Women Quarters Program is a United States Mint initiative that celebrates the accomplishments and contributions of women in the history of the United States. The program, which began in 2022 and will continue through 2025, features five different women each year on the reverse (tails) side of the quarter.

The program aims to:

Honor Notable Women: Recognize and celebrate the achievements of women from diverse backgrounds and fields.
Educate the Public: Raise awareness about the important roles women have played in shaping American history and culture.
Promote Diversity and Inclusion: Reflect the diversity of the United States by featuring women from various racial, ethnic, and cultural backgrounds.
Inspire Future Generations: Provide role models for young people and encourage them to pursue their dreams and make a difference in the world.

10. How Does Featuring Diverse Figures on U.S. Currency Impact Society?

Featuring diverse figures on U.S. currency has a significant impact on society by promoting inclusivity, representation, and education. It acknowledges the contributions of individuals from various backgrounds and helps to create a more inclusive and equitable society.

The positive impacts include:

Promoting Inclusivity: By featuring individuals from diverse backgrounds, the U.S. currency becomes more representative of the nation’s population and history.
Enhancing Representation: Seeing individuals who reflect their own identities and experiences on U.S. currency can be empowering and validating for marginalized groups.
Educating the Public: The stories and accomplishments of the featured figures can educate the public about important aspects of American history and culture.
Inspiring Future Generations: These figures serve as role models for young people, inspiring them to pursue their dreams and make a positive impact on the world.

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11. Could Digital Currency Change Who We Honor on Money?

Yes, the rise of digital currency could significantly change how we honor individuals on money. Digital currencies, such as cryptocurrencies, operate outside the traditional banking system and offer new ways to represent value and commemorate historical figures.

Here are some potential impacts:

Customization: Digital currencies could allow for the creation of custom coins or tokens that honor specific individuals or events, providing a more personalized and inclusive way to celebrate historical figures.
Decentralization: Digital currencies could decentralize the process of selecting and honoring individuals, allowing communities to create their own currencies and decide who to feature on them.
Global Recognition: Digital currencies could facilitate the recognition of global figures and events, transcending national borders and promoting cross-cultural understanding.
Accessibility: Digital currencies could make it easier for people to access and use money, particularly in areas where traditional banking services are limited.

12. How Can Understanding the Figures on Money Help Financial Literacy?

Understanding the figures on money can help enhance financial literacy by providing a tangible connection to American history and values. It also creates an opportunity to learn about the economic principles and policies that shaped the nation.

Ways that this knowledge can improve financial literacy:

Historical Context: Learning about the historical figures on U.S. currency provides context for understanding the evolution of the American financial system.
Economic Principles: Studying the policies and decisions of figures like Alexander Hamilton can help individuals grasp key economic principles.
Financial Responsibility: Understanding the value and history of money can promote a greater sense of financial responsibility and awareness.
Informed Decision-Making: By learning about the economic challenges and successes of the past, individuals can make more informed financial decisions in the present.

13. What Role Did Salmon P. Chase Play in Currency Design?

Salmon P. Chase, who appeared on the out-of-print $10,000 bill, played a pivotal role in the design of the nation’s paper currency. As the Secretary of the Treasury during the Civil War, Chase was responsible for introducing the first paper money in the United States.

His contributions include:

Introducing Paper Money: Chase oversaw the creation of the first national currency, known as “greenbacks,” to finance the Union war effort.
Standardizing Currency Design: He helped standardize the design of U.S. currency, ensuring that it was uniform and recognizable across the country.
Promoting Financial Stability: Chase’s efforts to stabilize the American financial system during a time of crisis laid the foundation for future economic growth.

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14. Why Is Financial Education Important, and How Does Money-Central.Com Help?

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15. How Can I Improve My Financial Literacy and Manage My Money Better?

Improving your financial literacy and managing your money better involves a combination of education, planning, and discipline. By taking proactive steps to learn about personal finance and implement effective money management strategies, you can achieve greater financial stability and security.

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Pay Off Debt: Prioritize paying off high-interest debt, such as credit card balances, to save money on interest charges.
Invest Wisely: Learn about different investment options and diversify your portfolio to reduce risk.
Seek Professional Advice: Consider consulting with a financial advisor who can provide personalized guidance and help you develop a comprehensive financial plan.

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FAQ: Presidents on Money

Here are some frequently asked questions about the presidents and historical figures featured on U.S. currency:

Who decides which presidents appear on money? The Secretary of the Treasury has the final say in determining who appears on U.S. currency.
Can living people be featured on U.S. currency? No, federal law prohibits featuring any living person on U.S. currency.
Why were larger denomination bills discontinued? Larger denomination bills were discontinued due to their limited use in regular transactions and concerns about their potential use in illegal activities.
Was there a plan to feature Harriet Tubman on the $20 bill? Yes, in 2016, the U.S. Treasury Department announced plans to replace Andrew Jackson with Harriet Tubman on the front of the $20 bill, but the plan was later stalled.
What is the American Women Quarters Program? The American Women Quarters Program is a United States Mint initiative that celebrates the accomplishments and contributions of women in the history of the United States.
How does featuring diverse figures on U.S. currency impact society? Featuring diverse figures on U.S. currency promotes inclusivity, representation, and education, acknowledging the contributions of individuals from various backgrounds.
Could digital currency change who we honor on money? Yes, digital currencies could allow for the creation of custom coins or tokens that honor specific individuals or events, providing a more personalized and inclusive way to celebrate historical figures.
How can understanding the figures on money help financial literacy? Understanding the figures on money can help enhance financial literacy by providing a tangible connection to American history and values and creating an opportunity to learn about economic principles.
What role did Salmon P. Chase play in currency design? As the Secretary of the Treasury during the Civil War, Chase was responsible for introducing the first paper money in the United States and standardizing currency design.
Why is financial education important, and how does money-central.com help? Financial education is crucial for empowering individuals to make informed decisions about their money. money-central.com provides comprehensive resources, easy-to-understand information, and personalized advice to help individuals improve their financial literacy.