Dollar Bill - Definition - Law Dictionary Home Dictionary Definition dollar-bill

Definition :

A paper note printed by the Treasury or by one of the Federal Reserve Banks under authority of the treasury having the value of one dollar Also five dollar bill ten dollar bill etc notes with the value of five ten etc dollars Prior to 1964 such notes could be redeemed for the equivalent dollar value in silver coins but in that year the backing of the currency with silver was discontinued Such notes not convertible into precious metals at a fixed rate are called fiat money receiving their value solely from the good faith of the issuing government and the confidence of those using the currency