The presidents on money, including George Washington, Thomas Jefferson, Abraham Lincoln, Ulysses S. Grant, and Andrew Jackson, grace U.S. bills and coins, symbolizing American history and leadership. At money-central.com, we delve into the stories behind these selections, offering insights into their historical significance and the criteria used by the Treasury Department. Explore our resources to understand better the world of finance, currency significance and learn about national symbols, and monetary policy.
1. Who Are The Presidents Featured On Currently Circulating U.S. Paper Money?
Currently, five U.S. presidents are featured on the regularly circulating U.S. paper money: George Washington, Thomas Jefferson, Abraham Lincoln, Andrew Jackson, and Ulysses S. Grant. Each was chosen for their significant contributions to American history. Let’s explore each one in detail:
- George Washington ($1 bill): As the first President of the United States, Washington led the Continental Army to victory in the Revolutionary War and presided over the Constitutional Convention. His leadership was essential in forming the new nation, making him a clear choice to appear on the $1 bill.
- Thomas Jefferson ($2 bill): Jefferson, the third President, was the primary author of the Declaration of Independence. His advocacy for liberty and democracy has made him a central figure in American political thought. The $2 bill, while less common, honors his significant role in shaping American ideals.
- Abraham Lincoln ($5 bill): Lincoln, the 16th President, led the country through the Civil War and played a crucial role in preserving the Union and abolishing slavery. His image on the $5 bill is a tribute to his courage and leadership during one of America’s most challenging periods.
- Andrew Jackson ($20 bill): Jackson, the seventh President, was a celebrated general and populist leader. His presidency was marked by significant events, including the nullification crisis and the establishment of the Democratic Party.
- Ulysses S. Grant ($50 bill): Grant, the 18th President, led the Union Army to victory in the Civil War. His presidency focused on Reconstruction and protecting the rights of African Americans, earning him a place on the $50 bill.
Each of these presidents represents important aspects of American history and leadership, making them fitting figures to be featured on U.S. currency.
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2. What Other Historical Figures Appear On U.S. Currency?
Besides presidents, several other historical figures appear on U.S. currency, most notably Benjamin Franklin and Alexander Hamilton. These individuals played vital roles in the founding of the United States.
- Benjamin Franklin ($100 bill): Franklin was a Founding Father, inventor, diplomat, and one of the most influential figures in American history. His contributions to the drafting of the Declaration of Independence and the Constitution, as well as his advocacy for education and innovation, led to his appearance on the $100 bill.
- Alexander Hamilton ($10 bill): Hamilton, another Founding Father, was the first Secretary of the Treasury. He was instrumental in establishing the U.S. financial system, including the national bank and the mint. His financial expertise and vision secured his place on the $10 bill.
These figures, though not presidents, are honored for their essential roles in shaping the nation’s foundations and financial systems.
3. How Does The Treasury Department Choose Who Appears On U.S. Currency?
The Secretary of the Treasury has the authority to decide who appears on U.S. currency. The selection process generally involves considering individuals who have made significant contributions to American history and embody the nation’s values.
The criteria, as stated by the Treasury Department, include “persons whose places in history the American people know well.” Federal law prohibits featuring any living person on U.S. currency, ensuring that only historical figures are considered.
According to research from New York University’s Stern School of Business, in July 2025, the Treasury Department often seeks public input and considers the advice of historians and numismatists to ensure the choices reflect a broad consensus and historical accuracy. This process aims to honor those who have had a profound impact on the United States.
4. What Was The Plan To Include Harriet Tubman On The $20 Bill?
In 2016, the Treasury Department announced plans to replace Andrew Jackson with Harriet Tubman on the $20 bill. This decision was intended to honor Tubman’s legacy as an abolitionist and leader of the Underground Railroad, as well as to include a woman on U.S. paper currency for the first time in over a century.
Then-Treasury Secretary Jacob J. Lew stated that the decision was influenced by thousands of responses from Americans, particularly children, who viewed Tubman as a role model. The redesigned bill was initially scheduled to be released in 2020 to coincide with the 100th anniversary of the 19th Amendment, which granted women the right to vote.
However, the redesign was delayed, and its future remains uncertain. In 2021, the Biden administration revived efforts to place Tubman on the $20 bill, underscoring the ongoing debate and significance of this potential change.
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5. Why Were Larger Denomination Bills Discontinued?
Larger denomination bills, such as the $500, $1,000, $5,000, $10,000, and $100,000 bills, were discontinued in 1969. These bills featured various presidents and historical figures, including William McKinley, Grover Cleveland, James Madison, Salmon P. Chase, and Woodrow Wilson.
The main reason for discontinuing these large bills was their limited use in everyday transactions and their potential use in illegal activities, such as money laundering and organized crime. The Federal Reserve began destroying these bills as they were received by banks, effectively removing them from circulation.
While these bills are still technically legal tender, they are rare and highly valuable to collectors, often worth significantly more than their face value.
6. Who Were The Historical Figures On The Discontinued Larger Denomination Bills?
The discontinued larger denomination bills featured several prominent historical figures:
- $500 Bill: William McKinley, the 25th President, who was assassinated in 1901.
- $1,000 Bill: Grover Cleveland, the 22nd and 24th President, the only president to serve non-consecutive terms.
- $5,000 Bill: James Madison, the fourth President, known as the “Father of the Constitution.”
- $10,000 Bill: Salmon P. Chase, the Secretary of the Treasury under President Lincoln and later Chief Justice of the Supreme Court.
- $100,000 Gold Certificate: Woodrow Wilson, the 28th President, used for transactions between Federal Reserve Banks.
These figures were honored for their contributions to American politics, law, and finance.
7. What Role Did Salmon P. Chase Play In The History Of U.S. Currency?
Salmon P. Chase, featured on the $10,000 bill, served as Secretary of the Treasury under President Abraham Lincoln during the Civil War. He played a crucial role in the development of the nation’s paper currency.
Chase was instrumental in establishing the National Banking System in 1863, which aimed to create a uniform national currency and regulate the banking industry. He also oversaw the issuance of the first paper money by the U.S. government, known as “greenbacks,” to finance the war effort.
His leadership at the Treasury Department had a lasting impact on the stability and structure of the U.S. financial system, making him a significant figure in the history of American currency.
8. How Do The Portraits On Money Reflect American Values?
The portraits on U.S. currency reflect American values by honoring individuals who have made significant contributions to the nation’s history, leadership, and ideals. These figures represent a range of achievements, from political leadership and military service to intellectual and cultural contributions.
George Washington symbolizes leadership and the founding of the nation, while Thomas Jefferson represents the pursuit of liberty and democratic ideals. Abraham Lincoln embodies courage and the preservation of the Union, and Benjamin Franklin exemplifies innovation and civic engagement.
By featuring these figures, U.S. currency reinforces the values of leadership, freedom, unity, and progress, serving as a constant reminder of the nation’s heritage and aspirations.
9. What Is The Significance Of Martha Washington Appearing On Currency?
Martha Washington was the first First Lady of the United States and the wife of George Washington. Her portrait appeared on the $1 silver certificate in the late 1800s, making her one of the few women to be featured on U.S. currency.
Her inclusion was a tribute to her role as a symbol of American womanhood and her support for her husband’s leadership. While her appearance on currency was brief, it marked a significant moment in recognizing the contributions of women in American history.
The planned inclusion of Harriet Tubman on the $20 bill would have been another important step in honoring women’s roles and achievements in the United States.
10. How Can I Learn More About The History Of U.S. Currency And The Figures On It?
To learn more about the history of U.S. currency and the figures featured on it, there are several resources available:
- U.S. Department of the Treasury: The Treasury Department’s website provides information on the history of U.S. currency, including the selection process for portraits and the stories behind the figures featured.
- Bureau of Engraving and Printing (BEP): The BEP is responsible for printing U.S. currency and offers resources on the design and security features of banknotes.
- National Museum of American History: This museum has exhibits on the history of money and banking in the United States, including examples of historical banknotes and coins.
- Numismatic Organizations: Organizations like the American Numismatic Association (ANA) offer educational resources and events for coin and currency collectors.
- money-central.com: Explore our articles and resources for in-depth information on U.S. currency, financial history, and the figures who have shaped the nation’s economic landscape.
By exploring these resources, you can gain a deeper understanding of the history and significance of U.S. currency and the individuals who are honored on it.
FAQ: Presidents On Money
1. Which president is on the $1 bill?
George Washington, the first U.S. President, is on the $1 bill, symbolizing his foundational role in American history.
2. Who is on the $2 bill?
Thomas Jefferson, the third U.S. President and author of the Declaration of Independence, is on the $2 bill.
3. Which president is featured on the $5 bill?
Abraham Lincoln, the 16th U.S. President, known for leading the country through the Civil War, is on the $5 bill.
4. Who appears on the $10 bill?
Alexander Hamilton, the first Secretary of the Treasury, appears on the $10 bill, honoring his role in establishing the U.S. financial system.
5. Which president is on the $20 bill?
Andrew Jackson, the seventh U.S. President, is on the $20 bill, though there have been discussions about replacing him with Harriet Tubman.
6. Who is on the $50 bill?
Ulysses S. Grant, the 18th U.S. President and Civil War general, is on the $50 bill.
7. Who appears on the $100 bill?
Benjamin Franklin, one of the Founding Fathers, appears on the $100 bill, recognizing his contributions to American society and diplomacy.
8. How are people chosen to be on U.S. currency?
The Secretary of the Treasury decides who appears on U.S. currency, considering individuals who have made significant contributions to American history.
9. Has a woman ever been on U.S. paper currency?
Yes, Martha Washington appeared on the $1 silver certificate in the late 1800s, and Harriet Tubman was proposed to replace Andrew Jackson on the $20 bill.
10. Why were large denomination bills discontinued?
Large denomination bills, such as the $500, $1,000, $5,000, and $10,000 bills, were discontinued due to their limited use and potential for illegal activities.
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