After the 1857 revolt, the British made the rupee the official currency of colonial India, with the head of King George VI replacing native designs on banknotes and coins. Photo Source In 1862, the Victoria portrait series of bank notes and coins were issued in honour of Queen Victoria and later, many emperors followed suit.
The history of paper currency is rooted in the monetary exchange system, which replaced bartering for goods. Coins created with a specific amount of gold, silver .
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As the first national currency, Demand Notes earned their name from the fact that they were redeemable on demand for gold coin at the Treasury. The government also created the United States Note, another currency designed as a temporary financing measure, with the passage of the Legal Tender Act of February 25, 1862.
The history of money concerns the development of means of carrying out transactions involving a medium of exchange. Money is any clearly identifiable object of value that is generally accepted as payment for goods and services and repayment of debts within a market, or which is legal tender within a country.
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The BEP had its foundations in 1862 with workers signing, separating, and trimming sheets of United States Notes in the Treasury building. Gradually, more and more work, including engraving and printing, was entrusted to the organization.
The history of the United States Dollar refers to more than 240 years since the Continental Congress of the United States authorized the issuance of Continental Currency in 1775. On April 2, 1792, the united states congress created the United States dollar as the country’s standard unit of money.
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