Definition of Greenback:
An animal with a green back, especially a race of the cutthroat trout found only in Colorado.
Popular name for US paper currency.
A greenback is a slang term for U.S. paper dollars. Greenbacks got their name from their color. In the mid-1800s, the Continental Congress did not have taxing authority. The "greenback" was a negative term because they did not have secure financial backing authority and banks were reluctant to give customers the full value of the dollar.
A dollar bill; a dollar.
It took half a century to get all foreign coins and competing state currencies out of circulation, but by the early 1800s, the U.S. was ready to try the paper money experiment again. Bank notes had been in circulation for a while, but because banks issued more notes than they had coins to cover, these notes often traded at less than face value.
How to use Greenback in a sentence?
- Their value against gold depreciated during the war but recovered after the war ended.
- Greenbacks, or U.S. dollars, were first created to finance the civil war and were called as such because their backs were printed in green.
Meaning of Greenback & Greenback Definition