Entrance: The Vault Door
Adjacent to the entrance to the exhibition The Value of Money—located just to your right—is a large, steel vault door swung open to reveal a gallery full of treasures. The circular doorway is framed in stainless steel attached to the wall with large rivets, almost the size of your palm. Because the door is open, its inner workings face out, and it is a maze of bolts, gears, and rods. At its very center are three numeric dials that activate the combination that, when entered on the opposite side of the door, engage or disengage the steel bars that ring the door, like spokes. When the door is closed and locked, these bars extend into the steel frame and lock the door in place. Or they would, if this was a working vault; although it’s a real vault door, this one doesn’t move or function like it would at a bank.
Exhibition Layout
Inside the gallery, the ceiling is low, and the lighting is dim, but lights catch on to some objects, making them sparkle and pop. The noise from the outer museum is a bit muffled, making this space feel hushed and important.
As you move through the door, there is a platform in front of you, roughly five feet square, holding glass pillars that reach the ceiling, each containing an object. More cases are set into the walls around the perimeter of the room, each exploring a different topic: From your right, The Origins of Money, The Innovations of Money, The Messages of Money, The Artistry of Money, The Allure of Money, and Revolutionary Money. Next to each of these cases is an enlarged reproduction of a coin set into the wall about five and a half feet high. Panels below the cases have a textured pattern of wavy lines like those that appear in the decorative border around U.S. paper money. Many of these sections also feature an additional case called a “blade.” These jut out diagonally into the space, about three feet from the cases in the walls, at roughly a 30-degree angle.
Besides the introductory island, the only free-standing structure in the gallery is a column in the back-right corner in the Innovations of Money section.
Moving into the gallery, you’ll find yourself directly in front of the central platform. A large rectangular slab of frosted acrylic is mounted front and center with the exhibition title, The Value of Money, in gold-toned three-dimensional letters. Below the title, the introductory label reads:
Monetary objects are powerful sources for exploring the past. The Value of Money connects American history to global histories of exchange, cultural interaction and expression, political change, and innovation through objects from the Smithsonian Institution’s National Numismatic Collection.
This exhibition examines the origins of money, new monetary technologies, the political and cultural messages money conveys, numismatic art and design, and the practice of collecting money. The Value of Money features more than 300 objects from our national money collection representing every continent inhabited and spanning more than 4,000 years.
Six glass pillars stretching to the ceiling are arrayed around the title panel. In each of these cases, a single object sits atop a clear plexiglass stand; all the clear glass makes them appear to be suspended in air. Labels for these objects sit on a rail a little under three feet off the ground.
The case to the right of the title panel holds the first featured object.
Denarius Coin, Roman Republic, 46 BCE
The Denarius Coin is displayed in the middle of a column of coins. It is on the far right of the only horizontal row of coins. This small coin, less than an inch in diameter, has a round shape with rough edges, suggesting it was made by hand. The coin is a dull silver and features a right-facing profile image of the goddess Juno Moneta, with her hair pulled back into a low bun and a band wrapped across her forehead. She is wearing earrings and a necklace. Letters spelling “Moneta” run down the left side of the coin from the top of her head to the back of her neck. Juno Moneta became associated with money because coins were minted in her temple in Rome. Over time, the word moneta came to be used to refer to places where coins were made and eventually to money itself.
The case on the other side of the title panel has the next object.
100,000 Dollar Note, United States, 1934
This bill sits at the top of the plexiglass stand, above two other bills. It is the largest denomination banknote ever printed in the United States, but physically it is the same size as the other paper currency we handle daily. President Woodrow Wilson appears in the center of the bill with “100,000” printed in large text to the right. To the left of the image of Wilson is an orange seal and the words “Gold Certificate,” with a gold serial number beneath. To the upper right of the seal is the phrase “Series of 1934.” The $100,000 gold certificate was printed in 1934 as a means of transferring money between the Federal Reserve Banks. These notes were not intended to circulate in public, and it is illegal for individuals to own them.
Walk to the left around the corner of the entry feature about four steps to the next case. It has a clamshell as its only object.
1 Dollar Clamshell,1933
Seashells have many characteristics that make them ideal monetary objects. They are durable, portable, and difficult to imitate. This clamshell briefly functioned as money in Pismo Beach, California, during the Great Depression. It is approximately 5 inches long and 4 inches wide, probably a little bigger than the palm of your hand. It is shaped like a triangle with all the points rounded off. The shell is white and gray with small horizontal ridges. Hand painted in black ink are the words “Good for $1 on demand at the Harter Drug Co., 3-8-33, scrip, Pismo Beach Calif, sign other side, In God We Trust, no. 5.” It also features Mr. Harter’s signature. Seashells are no longer an official form of circulating money, but they remain an alternative to notes and coins during periods of scarcity.
Continue to the left a few steps until the entry feature is no longer in front of you. Then turn to your right and move forward about 10 feet. Just to your right is one of the blade cases mentioned earlier. You have reached the first thematic section.
The Origins of Money
Money, simply defined, is something that can be used to make a payment. Any object can serve this purpose as long as it has an agreed-upon value and is trusted for use in transactions.
Its featured object is a Rai Stone ring
Located in the blade case, this stone is money from the Pacific Island of Yap. It is a round, rough-edged disk with a hole in the center weighing about 169 pounds. It is approximately two feet four inches in circumference and is a mixture of light and dark brown chiseled stone and minerals. The stone is not intended to circulate like a coin, but is used for significant or ceremonial payments, such as dowries. The stone ring has also represented accumulated wealth and conveyed social status. Some stone rings are so large and heavy that they cannot be moved, but changes in ownership of the rings are acknowledged by the community on Yap.
To your left is another blade case that starts the next section. Move around this case. The freestanding column will be just ahead to your left. The next wall case is opposite this column.
The Innovations of Money
Cash has long been considered the most dependable way to receive payment. But over the last 60 years the number of cashless transactions has been rapidly increasing due to the innovative developments of credit cards and digital payment systems. Around the world, emerging monetary technologies are increasingly allowing individuals to make payments via their phones, tablets, and computers.
This case’s featured object is the $3.6 Billion Laptop
This laptop was part of the largest financial seizure case in U.S. history. It is a silver macintosh, a nearly flat rectangle a little over 13 inches long and 9 inches wide. The laptop is closed and bears the apple logo—a stylized apple with a rounded chunk missing from the right side—in the center. It was used by an IRS agent Chris Janczewski to trace the theft of nearly 120,000 bitcoins from an online currency exchange, which unmasked the perpetrators and led to their arrest. After Janczewski seized the stolen bitcoins, this laptop held more than $3.6 billion before it was turned over to the U.S. Department of the Treasury.
A few feet to your left is the back wall of the gallery, where you will find the next section.
The Messages of Money
The ability of money to carry and communicate messages makes it a valuable source for learning about past and present cultures and history. Through images and text, governments use money to make political and cultural statements about a nation’s identity, leadership, heritage, and values.
This case’s featured object is a 1/2 Dollar Note, Colonial America, 1776
During the Revolutionary Period, American money often contained messages about unity. This note, or paper currency, is a little over three inches long and two inches wide. The paper is speckled light and dark brown. All the print on the note is black. In the center is an image of 13 interlocking rings, with each ring featuring a colony name. In the center are two concentric circles; the inner circle contains the words “We are One” and the outer circle contains “American Congress.” The entire note has a floral border. It is completed with text above the rings that reads “Half a Dollar” across the top and “Printed by Hall & Sellers in Philadelphia. 1776” across the bottom.
The next section is further along this wall to your left, just on the other side of a blade case. This section features one of the world’s most famous coins.
The Artistry of Money
Coins and notes do not have to be beautiful to serve as money, but they have often featured purposeful and symbolic art. Creative design and skill have been applied to the production of money to honor people, commemorate significant events, and inspire respect and loyalty to governments. Thus, the art of money is not only in its design, but also in the way in which it can convey the importance of money in society and its power as a means of communication for governments and artists.
This case’s featured object is a 20 Dollar Coin, United States, 1907
In 1907, 10 and 20 dollar gold coins designed by artist Augustus Saint-Gaudens were released to the public and were immediately in high demand. The 1907 20-dollar coin, also called the double eagle, is widely considered the most beautiful American coin ever made for circulation. The coin is gold and a little over an inch in diameter. On the face of the coin, Lady Liberty is pictured in full length, holding a torch in her right hand and an olive branch in her left. The tiny dome of the U.S. Capitol building, as though viewed from a distance, rises from the lower-left edge. Long, straight lines, representing rays of the sun, arc across the coin behind her and stars circle the rim. The word “Liberty” runs along the top edge and, near her left foot, the Roman numeral MCMVII signifies 1907.
A second coin mounted beside this shows the opposite side. A highly detailed eagle with massive wings flies through rays of sun. Across the top are the words “United States of America, Twenty Dollars.”
The next section is behind you, about 10 feet along the side wall on the other side of another blade case.
The Allure of Money
Coin collecting is one of the oldest and most popular hobbies in the world. Collectors value coins, notes, and other objects for beauty, rarity, and connections to people and places. Building a collection is not only about accumulation; it is a means by which individuals learn about history and draw connections between the past and present. The Smithsonian’s National Numismatic Collection contains some of the rarest and most valuable numismatic objects in the world.
This case’s featured object is an Oban Coin, Japan, 1860
Ulysses S. Grant traveled the world after his presidency. To mark his visit to Japan, Grant gifted the Japanese emperor a horse and, in return, the emperor sent him these Japanese coins. Some may have been made originally for collectors or for ceremonial purposes. This gold coin is almost 5 and ½ inches tall and a little over three inches wide. It is very thin, with rounded edges and small horizontal score lines across the face of the coin. On the center top, bottom, and sides, it is stamped with decorated designs encased in a circular border. In the center, painted in black, are two stacked possible Japanese characters.
The final case is in the front wall to your left about five feet.
Revolutionary Money
Money was a persistent problem for American colonists. Great Britain restricted colonists from importing coins, which led to frequent shortages. Thus they relied on any currency they could find, such as nails and beaver pelts or Indigenous currencies and foreign coins. A wide range of European and Latin American coins circulated in the British colonies in North America. They connected colonists to global trade networks while also enabling local transactions.
This case’s featured object is an 8 Real Coin, Bolivia, 1681
One of the most common coins during this time was the Spanish eight real coin, also called a piece of eight. Colonists cut pieces of this silver coin to make small change. These coins were so widely used in the Americas, as well as Europe, Asia, and Africa, that they are considered to be the world’s first global currency. This silver coin is round with jagged edges and is approximately 1 and ½ inches in diameter. Although very worn down, it appears to have an outer decorative ring and within the center the number eight between two columns with decorative, swirling tops. There are letters under the eight and on the outside of the columns, but the meaning of the letters is unclear. On the bottom are thick, wavy lines.
Thank you for visiting The Value of Money exhibition. The exit is about five feet along the wall to your left.