Jáchymov: After more than 230 years, the US stopped minting the penny this week. But long before that, the first dollar was coined - and it was created in a one-road town far away from the USA.

According to BBC, the US dollar, the most widely used currency in the world, traces its roots back to the tiny Czech town of Jáchymov. Tucked deep into the Bohemias Krušné hory mountains, this town was where the dollar originated more than 500 years ago in 1520.

The US dollar is central to global finance, with 58% of the planet's financial reserves held in this currency. Despite its worldwide acceptance, the dollar is not used in Jáchymov. Here, only the local koruna, euros, or sometimes Russian rubles are accepted. This is ironic, considering Jáchymov's historical significance as the birthplace of the dollar. Local historian Michal Urban notes that the town has largely forgotten this history, despite its impact on global finance.

Long before Jáchymov existed, the area was dominated by wildlife. However, the discovery of silver in 1516 transformed it into a bustling mining hub. Count Hieronymus Schlick capitalized on this by minting silver coins named "Joachimsthalers," which were eventually shortened to "thalers." The thaler became so successful that by 1566, it was the chosen model for many currencies across Europe and later inspired the US dollar.

Interestingly, as the dollar spread globally, Jáchymov's mines transitioned from silver to uraninite, which played a pivotal role in the nuclear arms race. The town, once proud of its monetary heritage, became a site of Soviet exploitation during the Cold War, with its mines fueling the USSR’s atomic arsenal.

Today, Jáchymov is a town grappling with its dual legacy. While efforts are underway to restore its historic buildings and environment, the town remains largely unrecognized for its contribution to global currency history. Visitors can, however, explore this heritage at the Royal Mint House museum, where the story of the dollar's origins is quietly preserved.