Helpful Information about our currency2018-03-05T22:45:40+00:00

Monetary Units/Denominations

The U.S. monetary system follows the decimal system. The basic unit is the dollar US. The most widely used bills are in denominations of $1, $5, $10 and $20. Occasionally, a bill of $2, $50 or $100 may be seen. Each dollar is divided into 1 00 cents. Currency in the form of a coin is:

1 cent (penny), 5 cents (nickel), 10 cents (dime), and 25 cents (quarter).

 

 

$1 dollar, $5 dollars, $10 dollars

$20 dollars, $50 dollars, $100 dollars

Value of a Dollar – Below is a list of average prices:

  • Cup of coffee $2.00
  • Espresso-based drink $3.50
  • Hamburger, fries, & drink $5.00 – $7.00
  • Lunch at a restaurant… $8.00 – $15.00
  • Movie Theater (cinema) $8.00 – $10.00
  • Letter stamp in U.S $0.49

Sales Tax

Most states in the U.S. charge a sales tax on tangible personal property and services, such as clothing, restaurant and fast food meals, services,
newspapers, books, toiletries, etc. The sales tax; in Okoboji, Iowa, it is 7.0. Sales taxes are added at the register, so be prepared for your bill to be more than the price tag on an item.

Tipping

Also known as gratuity, tipping is giving a small amount of money to another person for a service. Tips are expected in many situations in the U.S. These are the most often tipped services and a percentage guideline for tips:

  • Waiter/waitress 20% of food bill
  • Barbers/hairdressers 10% of bill
  • Taxi drivers 10 – 15% of fare
  • Food delivery No less than $3

You should never tip police officers, physicians, government employees or university employees. It may be interpreted as a bribe, which is illegal.
You do not tip bus drivers, theater ushers, museum guides, sales people, employees at fast food restaurants or hotel clerks.