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1、www.readinga-LEVELED READER ALEVELED BOOK T Moneyin the USAWritten by Susan CreanVisit www.readinga- for thousands of books and materials.Money in the USAA Reading AZ Level T Leveled BookWord Count:1,319Money in the USALevel T Leveled Book Learning AZWritten by Susan CreanAll rights reserved.www.rea
2、dinga-Photo Credits:Front cover,back cover,title page,pages 3,16,18(both):Jupiterimages Corporation;page 4:Digital Vision/Getty Images;pages 5,6(notes),9,10(all),11,14:Learning AZ;pages 6(coins),8,12:United States Mint images;page 7:Stockbyte/Getty Images;page 13:James L.Amos/Corbis;pages 15(both),1
3、7:Craig Frederick/Learning AZ;page 19:Photodisc/Getty ImagesCorrelationLEVEL TP3838Fountas&PinnellReading RecoveryDRAwww.readinga-Moneyin the USAWritten by Susan CreanMoney in the USA Level T 34Table of ContentsMaking Money .4Banking and Mint Marks .7Counterfeiting .10Recycling Money,Collecting Mone
4、y .14Standardizing Money .17Glossary .20Making MoneyMoney is something that people living in the United States today cannot survive without.People use money to purchase things they need to live,such as food and shelter.People also use money to purchase things they want,but do not necessarily need to
5、 survive.Money in the USA Level T 56The money used in the United States is different from the money of other countries.Each country has its own currency system.The system in the United States is based on a decimal system that uses dollars and cents.A big central bank,known as the Federal Reserve,iss
6、ues all money in the United States.But the Federal Reserve does not make money.Money is actually made by two other organizations:one is the U.S.Mint,which makes coins,and the other is the Bureau of Engraving and Printing,which makes the notes,or bills.United States currency has a design that makes i
7、t different from other currencies in the world.The money used in the U.S.is highly symbolic of American values and history.For example,all coins and notes feature a portrait of someone important in the history of the United States.COINSPenny:Abraham LincolnNickel:Thomas JeffersonDime:Franklin D.Roos
8、eveltQuarter:George WashingtonHalf-Dollar:John F.KennedyDollar:Susan B.AnthonyNOTES$1 George Washington$2 Thomas Jefferson$5 Abraham Lincoln$10 Alexander Hamilton$20 Andrew Jackson$50 Ulysses S.Grant$100 Benjamin FranklinMoney in the USA Level T 78Banking and Mint MarksOnce notes and coins are made,
9、they are shipped to banks that are run by the Federal Reserve,which is the central bank of the United States.Twelve Federal Reserve banks are located across the nation and make up our national bank system.Just as people might have a checking account at a private bank,private banks have checking acco
10、unts with Federal Reserve banks.Private banks use these accounts to buy notes or coins whenever they need them for their customers.People cash checks and get change in banks through a teller.The U.S.Mint does not decide which coins to produce and the Bureau of Engraving and Printing does not decide
11、which notes to print.Neither has the authority to start or stop producing a unit of currency.The U.S.Mint produces between 11 billion and 20 billion coins each year while the Bureau of Engraving and Printing produces about 37 million notes each day.Congress decides the denomination of the currency t
12、o be produced and circulated.mint markyearMoney in the USA Level T 910Look at a U.S.dollar or coin and you can tell where it originated.All coins get a“mint mark,”or a letter code that tells where the coin was made.If you see a P on the front of a coin,to the right of the portrait,the coin was minte
13、d in Philadelphia.A D means it came from Denver,an S,from San Francisco.Dollar bills made before 1996 have a regional seal with the name of the Federal Reserve bank that issued the note.Since 1996,notes show the Federal Reserve bank of origin through a new seal that includes a letter and number belo
14、w the serial number.Bank Letter NumberBoston A 1New York City B 2Philadelphia C 3Cleveland D 4Richmond E 5Atlanta F 6Chicago G 7St.Louis H 8Minneapolis I 9Kansas City J 10Dallas K 11San Francisco L 12Origin of notesCounterfeitingAlmost as soon as the Bureau of Engraving and Printing began producing
15、notes,criminals began counterfeiting them.The U.S.Treasury created the Secret Service in 1865 to control counterfeiters.In the United States,counterfeiting is a federal crime that is punishable by up to fifteen years in prison.Advanced printing methods prompted the U.S.government to change the desig
16、n of paper money in 1996 to stay ahead of counterfeiters.This was the first significant design change to paper money in sixty-seven years.From now on,new designs will be created every seven to ten years.Top,U.S.$20 before 1996.Middle,U.S.$20 between 1996 and 2003.Bottom,U.S.$20 from 2004 to present.
17、Money in the USA Level T 1112Paper money created since the redesign in 1996 still has the same historical figures and national symbols as the old series.The new bills also are the same size and texture as notes created before 1996.Like notes,coins have also had design changes over the years.Congress
18、 occasionally directs the U.S.Mint to create newly designed editions of coins.Congress also occasionally directs the U.S.Mint to create commemorative coins that are completely new.California,the 31st state to join the Union,is the 31st state to have a state quarter made in its honor.Every 10 weeks f
19、rom 1999 to 2008,the design on the reverse side of the quarter changed to honor a different state.Anyone can learn how to check whether or not notes are counterfeit.The three security features that you can check to authenticate notes are:watermarks,color-shifting ink,and security thread.The watermar
20、k is a faint image in the background of a bill.Color-shifting ink on the numeral in the corner of the bill changes color from copper to green when a note is tilted up and down.Finally,a security thread runs vertically through every new note issued since 1996.Type of noteFederal Reserveletter/numberW
21、atermarkPortraitTreasury sealFederal ReservesealSerial numberColor-shifting inkSecurity threadSeriesMoney in the USA Level T 1314Recycling Money,Collecting MoneyMoney does not last forever.Paper money is routinely deposited by private banks into Federal Reserve banks which then destroy notes that ar
22、e too worn for use.Some paper money is recycled into other products,such as stationery.As for coins,the U.S.Mint does not repurchase used coins.It will,however,pay for mutilated coins,but only for their value as scrap metal.Federal Reserve banks will replace old,worn coins with new coins of the same
23、 denomination and will then forward the old coins to the U.S.Mint to be recycled.Do You Know?Coins last longer than bills.The life expectancy for a circulating coin is 30 years,whereas paper money lasts just 18 months!Perhaps the biggest change in coins over the years has been the precious metals of
24、 which they are made.Early U.S.coins were made of gold,silver,or copper.In its first year,the U.S.Mint produced 11,178 copper cents.It was not long before the U.S.Mint began producing coins in silver and gold,too.Today,only very small amounts of copper,nickel,and zinc are used in the making of U.S.c
25、oins.Gold is only found in antique coins.A worker at a mint loads bags of coins to ship to banks.Money in the USA Level T 1516Congress authorizes the U.S.Mint to produce commemorative coins.Congress decides who or what will be featured on commemorative coins as well as how many of these special coin
26、s will be produced.Commemorative coins are not produced for circulation.They can be used as legal tender,but their face value is not the same as their appraised value.For example,a 1935 Hudson,N.Y.,Sesquicentennial half dollar has a face value of 50 cents but was sold for$1 when it was first issued.
27、Now it sells for between$1,000 and$5,000.Money made from the sale of commemorative coins is used to fund special projects.The restoration of the Statue of Liberty was partially funded by sales of commemorative coins that had a picture of the Statue of Liberty.Some U.S.money is never spent,exchanged,
28、or recycled.Instead,it is kept in collections by numismatists,or coin collectors.Collectors keep notes and coins in hope that they will increase in value.The U.S.Mint also produces commemorative coins that collectors purchase.Commemorative coins are special coins that are issued to honor a person,pl
29、ace,institution,or event in history.Collectors may also collect numismatic coins that were issued as standard coins.Commemorative and numismatic coins are valued by their rarity,condition,and age.The first U.S.commemorative coin featured Christopher Columbus.It was made to coincide with the Worlds C
30、olumbian Exposition in Chicago in 1893.Money in the USA Level T 1718The amount and type of money made in the United States has changed over the years.From Congress,to the U.S.Mint and the Bureau of Engraving and Printing,to the Federal Reserve banks,the government keeps coins and notes circulating a
31、nd the value of U.S.money safe.Using ATMs is one of the easiest ways to get money.Standardizing MoneyWhen our nation was first formed,its economy depended largely on a mixture of foreign coins.Beginning in 1775,the Continental Congress issued currency to pay for the Revolutionary War.These notes,cal
32、led Continentals,quickly became devalued because they were easily counterfeited and were not backed by gold or silver.On April 2,1792,the United States Congress passed The Mint Act.For the first time,currency in the United States became standardized.Since then,U.S.coin production has grown from 1,50
33、0 coins a year to more than 11 billion coins a year,and the United States dollar has become one of the strongest currencies in the world.Money in the USA Level T 1920Glossarycounterfeiters(n.)people who produce false currency(p.10)currency(n.)money,in any acceptable form(p.5)denomination(n.)the face
34、 value for a type of currency(p.8)face value(n.)a number or phrase that appears on a coin or note telling its worth(p.16)Federal the central bank of Reserve(n.)the United States(p.5)legal tender(n.)money that people must accept as payment within a country(p.16)mutilated(adj.)badly damaged(p.14)numis
35、matic(adj.)referring to currency collected because of its rarity and historical significance(p.15)precious metals that are highly valued metals(n.)because of their rarity(p.13)Many designs on money have changed to honor people and events in U.S.history.Security features have changed to keep counterf
36、eiters from being able to use fake bills.New rules to keep pace with new technology mean the future holds further changes for U.S.currency.However,the function of money in the United States will remain the same.People will still use money to buy what they need and some of what they want.The use of money has become part of everyday life.About$42 billion per month is spent in U.S.grocery stores.