The $5 bill featuring U.S. President Abraham Lincoln on the front has depicted the Lincoln Memorial on the back since 1929. The monument features 36 columns representing the 36 states that existed at the time of Lincoln’s death in 1865. However, on the $5 bill illustration, only 26 columns are visible. This is because when the vignette was engraved for the bill in 1928, there were only 48 states in the union. Alaska and Hawaii had not yet become states.
When was the Lincoln Memorial built?
The Lincoln Memorial was built between 1914 and 1922 in Washington D.C. It was dedicated in 1922 as a tribute to Abraham Lincoln, the 16th president of the United States. Designed by Henry Bacon, the memorial is modeled after ancient Greek temples and features 36 Doric columns representing the 36 states in the union at the time of Lincoln’s death in 1865 following the end of the Civil War.
The 36 original states when Lincoln died were:
- Maine
- New Hampshire
- Vermont
- Massachusetts
- Rhode Island
- Connecticut
- New York
- New Jersey
- Pennsylvania
- Delaware
- Maryland
- Virginia
- North Carolina
- South Carolina
- Georgia
- Kentucky
- Tennessee
- Ohio
- Louisiana
- Indiana
- Mississippi
- Illinois
- Alabama
- Missouri
- Arkansas
- Michigan
- Florida
- Texas
- Iowa
- Wisconsin
- California
- Minnesota
- Oregon
- Kansas
- West Virginia
- Nevada
- Nebraska
When did the Lincoln Memorial first appear on currency?
The Lincoln Memorial was first depicted on the $5 bill in 1929. Prior to that, Lincoln was featured on the front of the bill, but the back design focused on a large blue numeral 5 rather than an illustration. It wasn’t until 1929 when both the front and back designs were overhauled that the Lincoln Memorial made its first appearance on U.S. currency.
Why are there only 26 columns visible on the $5 bill?
When the engraving was done for the $5 bill in 1928, there were only 48 states. Alaska and Hawaii had not yet gained statehood and were still territories. As such, the engravers depicted only 26 columns representing the 26 states that existed in Lincoln’s time, rather than the full 36 columns present in the actual monument.
This was done for symmetry in the illustration. Since the memorial’s full width could not fit on the bill, showing the full 36 columns would have resulted in awkward cropping that cut out part of the columns on the ends. Limiting it to 26 allowed the illustration to depict the columns in full without cropping them off inelegantly.
When did Alaska and Hawaii become states?
Alaska was admitted as the 49th state on January 3, 1959. Hawaii soon followed and became the 50th state on August 21, 1959. This brought the total number of U.S. states to 50.
The order of statehood for all 50 states is:
- Delaware – December 7, 1787
- Pennsylvania – December 12, 1787
- New Jersey – December 18, 1787
- Georgia – January 2, 1788
- Connecticut – January 9, 1788
- Massachusetts – February 6, 1788
- Maryland – April 28, 1788
- South Carolina – May 23, 1788
- New Hampshire – June 21, 1788
- Virginia – June 25, 1788
- New York – July 26, 1788
- North Carolina – November 21, 1789
- Rhode Island – May 29, 1790
- Vermont – March 4, 1791
- Kentucky – June 1, 1792
- Tennessee – June 1, 1796
- Ohio – March 1, 1803
- Louisiana – April 30, 1812
- Indiana – December 11, 1816
- Mississippi – December 10, 1817
- Illinois – December 3, 1818
- Alabama – December 14, 1819
- Maine – March 15, 1820
- Missouri – August 10, 1821
- Arkansas – June 15, 1836
- Michigan – January 26, 1837
- Florida – March 3, 1845
- Texas – December 29, 1845
- Iowa – December 28, 1846
- Wisconsin – May 29, 1848
- California – September 9, 1850
- Minnesota – May 11, 1858
- Oregon – February 14, 1859
- Kansas – January 29, 1861
- West Virginia – June 20, 1863
- Nevada – October 31, 1864
- Nebraska – March 1, 1867
- Colorado – August 1, 1876
- North Dakota – November 2, 1889
- South Dakota – November 2, 1889
- Montana – November 8, 1889
- Washington – November 11, 1889
- Idaho – July 3, 1890
- Wyoming – July 10, 1890
- Utah – January 4, 1896
- Oklahoma – November 16, 1907
- New Mexico – January 6, 1912
- Arizona – February 14, 1912
- Alaska – January 3, 1959
- Hawaii – August 21, 1959
When was the $5 bill design updated to reflect 50 states?
The back of the $5 bill was not updated to reflect the addition of Alaska and Hawaii and the full 50 states until the next major redesign of the $5 bill in 2008. This redesign introduced an updated illustration of the Lincoln Memorial that included all 36 columns to accurately represent the 50 states.
Prior to 2008, the $5 bill maintained the same 1920s design with only 26 columns. Even after Alaska and Hawaii became states in 1959, the engraving was not modified to add the additional columns. The 50-state design did not appear until 2008, 49 years after Alaska and Hawaii statehood.
Timeline of key dates related to the $5 bill design:
| Year | Event |
|---|---|
| 1914-1922 | Construction of the Lincoln Memorial with 36 columns representing 36 states at the time. |
| 1929 | The Lincoln Memorial vignette is added to the back of the $5 bill, but only 26 columns depicted due to number of states. |
| 1959 | Alaska and Hawaii become the 49th and 50th states. |
| 2008 | The $5 bill design is updated with a new illustration of the Lincoln Memorial accurately depicting all 36 columns. |
Why is Lincoln on the $5 bill?
Abraham Lincoln is featured on the $5 bill because of his immense historical significance as 16th president of the United States during the Civil War. The first $5 bill was issued in 1861, shortly before the beginning of Lincoln’s presidency. This first design did not feature Lincoln, but instead Alexander Hamilton on one side and a classical design on the reverse.
It wasn’t until 1929 when the $5 bill was redesigned that Lincoln’s portrait was chosen to grace the front of the denomination. Lincoln remained a popular choice due to his role in emancipating slaves and preserving the United States during the Civil War. The Lincoln Memorial was selected for the reverse to honor his historical importance.
Lincoln has remained the central figure of the $5 bill for over 90 years since 1929. The significance of his presidency made him a natural choice to represent the $5 note. Efforts to redesign or update U.S. currency more recently have maintained Lincoln’s prominent position on the $5 bill.
How long do $5 bills last in circulation?
The average lifespan of a $5 bill in circulation is 5.5 years according to the Federal Reserve. However, some last much longer with $5 bills remaining in use for up to 15 years on average. Bills with lower denominations tend to wear out faster from frequent handling and transactional use. Higher denominations like $50 and $100 bills can have lifespans of up to 15 years before being taken out of circulation.
The $5 bill gets used on a daily basis for small purchases and transactions, speeding up the rate at which the notes deteriorate. Damaged, torn, or soiled bills get identified and replaced by regional Federal Reserve banks to maintain quality standards.
Modern $5 bills also incorporate new security features and designs that help extend the lifespan. These include watermarks visible when held up to the light, security threads woven into the bill fabric, color-shifting ink, and polymer coatings to reduce wear.
How many $5 bills are in circulation today?
According to the Federal Reserve, there are currently over 3.7 billion $5 bills in circulation as of November 2023. The $5 bill is the lowest paper currency denomination printed today by the U.S. Bureau of Engraving and Printing.
The vast majority of the value of U.S. currency in circulation comes from higher denominations. While $5 bills account for 22% of the total paper notes, in terms of value $5 bills represent just 2% of the over $2.1 trillion worth of paper currency in use.
| Denomination | Bills in Circulation | Value in Circulation |
|---|---|---|
| $1 | 12.4 billion | $12.4 billion |
| $2 | 2.2 billion | $4.4 billion |
| $5 | 3.7 billion | $18.5 billion |
| $10 | 2.3 billion | $23.0 billion |
| $20 | 8.3 billion | $165.7 billion |
| $50 | 2.4 billion | $119.6 billion |
| $100 | 12.5 billion | $1.25 trillion |
Conclusion:
The use of only 26 columns on the Lincoln Memorial illustration on the $5 bill dates back to a time when there were only 48 states. This was done for symmetry in 1928 when the vignette was engraved, prior to Alaska and Hawaii joining the union in 1959. The bill design did not reflect 50 states until 2008 – 49 years after admission of the final two states.
Lincoln remains on the $5 note due to his historical significance as 16th president during the Civil War. The Lincoln Memorial on the reverse honors his legacy and the 36 columns represent all 36 states that existed during his time. While the $5 bill today is very common, higher denominations now make up the vast majority of the over $2 trillion worth of U.S. currency in circulation.