The US dollar hasn't existed nearly that long in its current form. The current currency regime began in 1971 when Nixon ended the policy of buying back each dollar with 1/35 of an ounce of gold.
Major changes to the nature or definition of the US Dollar occurred over the past 200 years:
- In 1945 the Bretton Woods agreement made the US Dollar the world's reserve currency
- In 1933 private ownership of gold in the US was outlawed. Gold was forcibly confiscated for $20 per ounce. The price was then raised to $35 per ounce.
Major changes to the nature or definition of the US Dollar occurred over the past 200 years:
- In 1945 the Bretton Woods agreement made the US Dollar the world's reserve currency
- In 1933 private ownership of gold in the US was outlawed. Gold was forcibly confiscated for $20 per ounce. The price was then raised to $35 per ounce.
- In 1913 the Federal Reserve System was created
- In 1861 fiat "Greenbacks" were issued