Value of Buck Dollar

What is the Meaning of Buck? Is it similar to Dollar? How was it used in Trade? When did Coins start Minting in the United States?
Buck Dollar

Bucks have been used as slang in place of basic monetary terms for quite some time. The term buck dollar originated a lot earlier but is still circulating in the United States. Are both buck and dollar synonymous? Nowadays, the term buck is even used in countries outside the United States. Today, you will get to know what is 1 buck meaning and how much are 10 bucks in dollars?

1. Origin of the Term

There is no clear evidence about the year when the term buck was used. Buck is also the male of a deer. A reference from 1748 figured out that buck was not only used in the context of the animal. But it was a term people used while trading. It has been mentioned that a cask of whiskey was sold to Native Americans for five bucks. Here, bucks are referred to as deer skins. (Also read Who invented money?)

2. Value in Trade

In older times, there was no coin system. So, for buying things, people used animal skins as a means of trade. For example, two bucks for a bag of rice. That means that you have to pay two bucks to purchase the bag of rice.

  • In the absence of a proper currency system, skins of animals like deer, bucks, rabbits, beavers, etc., were used as a currency for purchasing items. Sometimes during trade, when the buck’s skin was of good quality, then three or four of good quality skin were required. But if the quality was not good enough, then the number of skins could be more than five as well.
  • The skin of animals, like rabbits and beavers, was also used in large quantities.
  • The skin of a deer killed in winter was highly valued because of the thick fur. The value of one buckskin was measured in several skins of small animals. Apart from the quality offed by a seasonal skin, other conditions were age, color, breed, and the size of the animal that define the value of buckskin. So, how come the buck dollar is used as a synonym in modern days?

The high-quality skin of six beavers or twelve rabbits was equivalent to the value of one buck. (Also read 7 Facts About Dog Sled Teams)

buck dollar 3: buck dollar

3. Dollar as Official Currency

When the number of migrants from Europe increased, they started developing proper cities. The medium of exchange converted from animal skins. The Coinage Act 1792 was passed, and the usage of the United States dollar as the legal medium of exchange began. But the term remained in people’s minds till the mid-19th century. And even after that, the term buck is sometimes used in place of the dollar. (Also read Origin of Dollar Sign)

4. 1 Bucks Meaning

Buck was a broad term because several skins were required to reach the value of one buck. But with the advancement of time and the introduction of the dollar, the value of one buck became one dollar. For example, five bucks have the same value as 5 dollars. And if it is five bucks and 50, then it means we have to pay 5 dollars and 50 cents. Similarly, the value of 10 bucks in dollar is actually $10. (Also read How much money is in the world?)

buck dollar 2: buck dollar

5. Value of 10 Bucks in Dollar

According to the Oxford English Dictionary, the Democratic State Journal in 1856 has mentioned buck instead of a dollar while referring to money. From the sketches involved in the History, Manners, and Customs of American Indians, by James Buchanan from the list of 1824, mentioned that each buckskin was valued at one dollar.

Apart from this evidence, a more prominent one is sawbuck with a value of ten dollars. With the introduction of paper currency, the term sawbuck was used for 10 dollars, while the shorter-term buck became a synonym for dollar. The sawbuck theory is considered more appropriate for buck dollar by researchers. (Also read How Much Would A Shilling Or A Pound Cost In Today’s Us Money?)

Now, you know that buck is an informal term used in place of the dollar. Thus, 10 bucks in dollar is indeed equivalent to 10 dollars. You also learned that 1 buck meaning in the American colonial period was one high quality or several low-quality deerskins.

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