1 Cent – United States

In 1959, the United States operated under the Bretton Woods monetary system, established in 1944, which pegged the U.S. dollar to gold at $35 per ounce and tied other major world currencies to the dollar. This made the dollar the world's primary reserve currency and the anchor of international finance. Domestically, currency was entirely physical—coins and paper bills—as credit cards were in their infancy and electronic transfers were limited to large institutional transactions. The money in circulation was largely in the form of U.S. Notes and Federal Reserve Notes, with the latter becoming increasingly dominant, and all paper currency was still redeemable in silver to a degree, upholding public confidence in its tangible value.

Economically, the year was one of transition and mild concern. The country was emerging from the sharp recession of 1958, and while growth resumed, there were persistent worries about inflation and the balance of payments deficit. For the average American, prices were stable by modern standards, with a gallon of gasoline costing around 25 cents and a new house averaging $12,400. However, the persistent outflow of gold to cover international deficits was beginning to strain the Bretton Woods system, hinting at future instability. Internally, the Treasury and Federal Reserve maintained a careful balance to support growth without triggering price spikes.

A significant numismatic event of 1959 was the removal of the motto "In God We Trust" from the reverse of the one-dollar silver certificate, as it had been absent from that series since its 1935 design. This change was temporary, however, as a congressional mandate the following year would require the motto on all U.S. currency. The year thus represented a late period of monetary stability before the pressures of the 1960s would lead to the end of silver redemption in circulating coinage and, ultimately, the collapse of the gold standard itself in 1971.