The U.S. dollar is the United States’ standard unit of money, divided into 100 cents. It is represented in physical notes and coins as well as account balances. The dollar sign is $, usually placed before an amount such as $5; the cent sign is ¢, placed after an amount such as 25¢. USD is a common three-letter identifier.
What is the U.S. dollar?
The dollar is a unit of money, not one particular piece of cash. A dollar can be represented by a banknote, coins adding up to one dollar, or an account balance. Physical notes and coins are cash; balances in bank accounts are money denominated in dollars but are not physical currency.
The United States adopted the dollar as its standard money unit in the Coinage Act of 1792. The U.S. Mint’s historical account says the familiar Spanish milled dollar influenced the choice, and Congress established decimal coinage: 100 parts, or cents, to a dollar. The Mint’s history of U.S. circulating coins explains that origin.
What do $, ¢, and USD mean?
- $ is the dollar sign, commonly written before a whole-dollar amount: $5 or $20.
- ¢ is the cent sign, commonly written after a cent amount: 25¢.
- USD is a widely used three-letter identifier for the U.S. dollar in financial writing. The Federal Reserve and Mint pages cited here document the dollar and cent signs and dollar denominations, but do not prescribe a formal style rule for writing USD.
What U.S. dollar denominations are in use?
Notes and coins have different denominations and issuance arrangements. The list below distinguishes notes the Federal Reserve currently issues from coin denominations listed by the Mint; current issuance or production should not be confused with whether an older denomination remains legal tender.
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| Form | Denomination | What to know |
|---|---|---|
| Federal Reserve note | $1, $2, $5, $10, $20, $50, $100 | The Federal Reserve Board currently issues these seven denominations. The $2 note is included even though it is less familiar to many people. Federal Reserve currency FAQ |
| Coin | 1 cent (penny) | The penny remains a legal-tender coin, but the Mint says it ceased circulating in 2025 after 232 years of production. Limited production continues for collectible sets. U.S. Mint circulating coins |
| Coin | 5 cents (nickel), 10 cents (dime), 25 cents (quarter) | The Mint describes these as the most common circulating coin denominations. |
| Coin | 50 cents (half dollar) | Half dollars may still be ordered through the Federal Reserve and used as legal tender; the Mint says they are usually produced as collectibles. |
| Coin | $1 (dollar coin) | Dollar coins exist, though the Mint notes they are often collectibles. |
Coin designs and production arrangements can change by year and denomination. For a current design, check the Mint’s page for that specific coin and year rather than assuming a design is permanent.
Are larger U.S. banknotes still issued?
No. Notes of $500, $1,000, $5,000, and $10,000 were discontinued in 1969; the Federal Reserve says they had last been printed in 1945. The $10,000 note was the highest-denomination Federal Reserve note ever issued for public circulation. Those historical denominations should not be mistaken for notes the Federal Reserve currently issues. The Federal Reserve’s currency FAQ covers both current notes and discontinued denominations.
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Who issues and distributes U.S. currency?
The Federal Reserve Board is the issuing authority for Federal Reserve notes. The Reserve Banks distribute and receive notes and coins through depository institutions. The U.S. Mint issues coins and determines annual coin production. The Federal Reserve reports that more than 99 percent of U.S. currency in circulation is Federal Reserve notes; the remainder includes other U.S. note types that remain legal tender. The Federal Reserve’s explanation of its currency role describes this division of responsibilities.
As a dated example of how note production is planned, the Board approved a calendar-year 2026 print order on July 15, 2025, for 3.8 billion to 5.1 billion notes with a planned dollar value of about $108.9 billion to $139.6 billion. The Board says production may be adjusted during 2026; this is a production order, not a count of notes already circulating. The Federal Reserve’s currency orders page provides the order information.
Is U.S. cash legal tender, and must businesses accept it?
Federal law says: “United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues.” The language appears in 31 U.S.C. § 5103, reproduced by the Federal Reserve.
Legal-tender status does not by itself require every private business to accept cash for a proposed purchase. The Federal Reserve FAQ says, “There is no federal statute mandating that a private business, a person, or an organization must accept currency or coins as payment for goods or services.” State and local rules may differ, and the distinction between paying an existing debt and a merchant’s policy for a new retail transaction matters. Check the rules that apply in the relevant location. The Federal Reserve’s cash-acceptance FAQ explains the federal position.
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